AGM May 2014

Dear Owners

As Chairman of the OH5 Committee, I regret to inform you all that I am no longer able to continue. My business and health has been badly affected by the current severe economic crisis in Cyprus. Subsequently, I am no longer resident in Cyprus and I travel often with little time spent at my Oroklini home. The precious little remaining time I have left, I need to spend with my partner and 3 year old son.

At the last AGM in May 2013, I requested owners to come forward to stand as Chairman on the Committee. As no-one did this I reluctantly agreed to continue, even though I knew it would be hard in terms of the time I could personally commit and in light of the prevailing economic climate. I asked all owners present at the last AGM and afterwards by email and on this Blog to come forward, so that a new meeting could be set-up to create a new Committee, however sadly no-one offered or came forward at any juncture.

Unfortunately, too many times I had to pay personally for the Electricity, Insurance, Repairs and other unseen matters that went unnoticed. I tried my best in the time available to keep the place running despite so many owners not paying for whatever reason, including a number that live on the complex. On practically every occasion we did not have funds to pay the electric bill when it came in, yet the building was only without electric for 2 days in 3 years and the cleaning, gardening, Pool etc were maintained regularly. Naturally there were never funds for anything else like a new sewage system or major repairs.

KSL made a notable blitz of the complex in October / November 2013 for all to see and no charge was made for this. Despite so many pushing for Demorilo to go, the payments never followed in line with promises.

KSL are a professional company and as such the will generate accounts and take care of matters. All owners that do not pay will have to face legal or door to door negotiations with debt collectors. It takes time to process matters legally, but when the system is followed through (as KSL will), the funds shall arrive and the complex will then be able to get necessary repairs done, for example to the pool.

I kindly ask all owners to make life easy for themselves and pay their outstanding debts and contribute regularly from now on to avoid inevitable consequences. We now need to draw a line and generate a greater nucleus of paying owners for the best interests of our community. If anyone is facing financial difficulty, then please raise the matter with KSL so that facilitation can be given.

I can safely say that being Chairman was really a thankless job, however I have no grudges or hard feeling to anyone whatsoever. My hopes for OH5 remain the same, for us all to maintain the the value of our collective property and to be civil to each other within our confines community.

From here KSL will arrange a new AGM in May to help elect a new committee (all the committee will change). The only requirement is to be a paid up owner and to place the best interests of the complex first.

Best future wishes to all OH owners
Grant Holmes

New KSL managed Bank Account

Dear Owners

Further to a recent correspondence sent to all owners by KSL we hereby re-confirm that a new Bank Account is in force, which is under the direct control of KSL. The reasons for creating a new Bank account are as follows:

1. The Committee account was originally opened at the request of owners and held at COOP and the specific bank involved COOP Karpasia has since been taken over by Makrasyka. As such online banking was not possible, which caused delays in accounting for KSL. The take-over involved no loss of money, however it involved considerable difficulty operating the account.  
2. Some Owners recently requested the Bank Account to be managed directly by KSL, which the Committee is more than happy to oblige. 
3. By KSL maintaining the Bank Account it will give them greater control of managing accounts.
4. The above point will also facilitate to provide regular accounts for all owners as promised within the agreement with KSL. 

For absolute clarity, to view the details of the account arranged by KSL, please click the below download link.

OH5 Bank Account details - managed by KSL