Urgent request for funds

 Dear OH5 Owners

We kindly request all owners to bring their accounts up to date with immediate effect.

The balance of accounts is alarmingly low. Income is required urgently to cover ongoing utilities, maintenance charges and to ensure the general upkeep of the complex.

Owners that do not contribute promptly, penalize other owners in the complex. To illustrate this point, with the lower fixed charges in place now (compared to previous years) it is possible to reduce the monthly fee, however due to the non-paying rate, the fee has to stay higher than necessary to cover the lack of payments coming in.

Moreover, the non paying rate impacts on other areas as follows:

• Limits our options with regards to services, as we can only work with companies that will accept irregular and late payments (including insurance).
• Our capacity to negotiate costs with suppliers.
• We cannot set up direct debits to pay utility costs, due to the fact we cannot be sure there will be money in the account. If direct debits are returned charges are incurred.
• We need to fix tiles, drainage, painting, plumbing and many other general maintenance jobs, which often owners request, however without the funds it's simply impossible.

As a result of this somewhat vicious circle created by non or late paying owners, the OH5 Committee will take all reasonable measures to secure funds for the benefit and best interests of the complex as a whole.

If an owner reading this message is unsure of their funds owed or is experiencing difficulty to pay please contact Alison York from Demorilo on:

• Telephone: +357 24 644995
• email: creditcontrol@demorilo.com

For owners in difficulty, the Committee is willing to set realistic payment plans, however non compliance, avoidance or refusal will result in assertive action.

We want to avoid any impact on utilities and the next payment for Insurance, however we can only manage the money that comes in. It is not naturally sustainable or realistic to expect the Chairman or other Committee members to pay from their own pocket for Utility and Insurance bills any longer.

The OH5 Committee