Dear OH 5 Owners
I regret to inform you that we have just received official notice from Palm View Management to confirm they will withdraw all services as from this coming Monday the 4th of July.
Palm View Management are not the only Company in Cyprus pulling out of management services for residential complexes, which is down to loss making operations mainly caused by non contributing owners, partly due to the current economic crisis in Cyprus, Greece, the UK and in the western world generally.
We expected Palm View Management to withdraw at the earliest in September, however they claim to no longer be in a position to sustain a loss making operation.
We are conducting immediate Committee talks with view to find a solution within today. All such talks will be based on the following criteria:
- Minimum impact to services of the Complex to avoid any deterioration.
- To immediately manage outstanding bills such as Electric, Insurance and the ongoing sewage issue.
- To avoid any increases of community fees, despite the fact the current fees are not sufficient to pay for all services due to non payers.
- To create an assertive strategy to handle non payers.
I will inform you later today or as soon as we have a solution to put forward.
OH5 Committee
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