letter to a condo owner ?

Ana Laura Garcia:
Mr. X
Condo Owner 501

Dear ...good afternoon.

We received your email and I would like to make several comments.

1. – At the meeting held this year we presented a financial statement containing operating expenses and extraordinary items that they have been conducted over the past year, there were explained each of the concepts and approved by the owners, it was also presented the operating budget for the year of 2013 in which authorize an increase of 3% to the maintenance fees to cover the monthly expenses. Annex last year's financial situation.

2. - If you look at the operating budget 50% is exercised in the payment of payroll workers, you may recall that Las Peñas has maid service, restaurant with waiters, maintenance personnel, a watchman at night , bilingual assistant and administrator. All staff is from the condominium, we do not have private security, we have a janitor who stays up all night to watch the condominium in addition he does other maintenance
activities that only can be done during the night.
3. - A 16.51% is spent on electric power and telephone bill of the common areas and gas for the apartments, also another major expense is the payment of the building insurance that carries a 8.75%, the rest in other expenses that you can review in the Financial Statement. If you want to do a more accurate review to the accounting we gladly can show you the report at the condominium it would be only a matter of coordinate it.

We hope that next year you could be present in the annual assembly of the condominium so you can be aware of how we handle the building Expenses.

I would like to make one last comment, in the assembly of condominiums this year we also made the proposal to modernize the building's elevators, the elevators would need to be repaired since they are already over 25 years old. This was brought up by the company Otis who handles the maintenance for the elevators and is also the brand of elevator contracted by the condominium. Otis said that they need to make improvements to the pulley and the motor equipment. In the assembly all owners agreed to pay an extraordinary fee of 35,000 pesos for an apartment or 57,500 pesos for the penthouse to raise money and repair one elevator and the second one in 2014 costing approximately $750,000.00 per elevator for just the repairs and without having to install entirely new elevators. In light of such, we have asked Otis that they provide the quotes; otherwise if we change brands, the elevators will have to be changed completely.

However the Board has decided not to continue with the matter since they understand that there are many concerns from outsiders. We will resubmit the proposal with quotations from different companies until all doubts be resolved although this project had already been approved by a majority in the assembly.

I’m attaching the financial statement. With nothing else at the moment, I take this opportunity to send you cordial greetings, and I remain at your service for any clarification in this regard.

Sincerely,

xxxxxxxxx
Administration, Las Peñas