[200William-EC SP67851] Updated Sinking Fund Forecast

Thu Dec 18 19:13:37 EST 2014

Hey Matt

Bit confused with the email. Sorry mate. See below. 

On 18 Dec 2014, at 3:48 am, Matt Perkins <matt at spectrum.com.au> wrote:

I'm. it sure what you mean by auctioned. 
Not sure what this means Matt?

The thread is about the sin king fund update. an indication of a meeting in the new year to discuss. Andrew has opined that he believes the strata fees are high and does not believe that we should charge for cages. I countered that the best person to give us a real idea of the finances going forward is Ed. 
Cool, I agree with Andrew in terms of raising strata fees. Under no circumstances will I be voting to raise fees so we can let out a few cages. That would be ridiculous. Our fees are disproportionally high, in fact very high ( no pool, no concierge etc etc ) I would ask though why has letting out a few cages become so complicated. When I first raised this matter of raising additional revenue about 18 months ago, it was a good idea. George and Matt cleared the cages legally, Matt has proposed we open them up to the tenants, I agree, all we have to do is agree on a figure and volia, open for sale, extra revenue, bang, happy days. 

Other the. Ed giving an update which he has indicated he will do in the New Year I'm not sure there's anything else to do. we can ,one on cages once a price is decided. 
I think this is saying let’s wait for Ed to do the sinking fund update for us in the new year. Why don’t we just open the cages for lease in the meantime. Let’s make a decision, run with it. What’s the worst that can happen? It certainly won’t cost us money. Everyone wins. I 100% agree on utilising Ed’s expertise in this area, just not sure why we can’t just let the cages out for now. 

Matt
ROB

On 18 Dec 2014, at 3:30 am, Rob Willett <rob at robadda.com> wrote:

> Hey Matt
> 
> Just confirming if this has been actioned mate? I lose track of the emails sometimes! 
> 
> Regards, ROB
> 
> 
> <ROB19732_RobEmailSig.jpg>
> 
> 
> 
> On 13 Dec 2014, at 8:49 am, Matt Perkins <matt at spectrum.com.au> wrote:
> 
>> Hi Andrew,
>>  Most buildings I have been in this area, and I have lived in various over the last 25 years have either had cages on title or they are leased or rented.  
>> 
>> I have never seen a strata that provides them. Not to mention that we don't have enough space for everyone. I have a cage on title. that means my car space is worth more on the open market then someone's car space that doesn't. 
>> 
>> AT the élan down the street they set up a whole strata scheme for élan storage a room of cages. these are a commodity and its inappropriate I believe to give them away. 
>> 
>> Look at the pricing Kenards are charging for a storage space. it's orders of magnitude more then the ~ 40 per month we might charge. 
>> 
>> Pia can you give us some guidance here as to what other buildings do and what sorts of pricing. 
>> Elan charge between 60 and 200 a month depending on size. 
>> 
>> As to the building upgrades I would love to see Rowan's work continue. However the budget will dictate if a fee increase is required or not. Ed does finance for a living. I wholly believe we need to follow his lead here. 
>> 
>> There is also the ongoing legal fees surrounding 601 this will not go away. there's a good chance we will be either paying for all the outside of the building to be cleaned soon or paying to defend the right not to or both. 
>> 
>> Matt
>> 
>> 
>> 
>> On 13 Dec 2014, at 11:44 am, Andrew James <Andrew.James at lh.org.au> wrote:
>> 
>>> Hi Folks,
>>>  
>>> Where to from here? I think it would be great to get together to discuss these reports and to think about a financial strategy before we do any more work regarding the upgrades.
>>>  
>>> Our strata fees are extremely high and now we want to add more fees for storage cages (which are normally provided in most apartment buildings to my knowledge). I can’t imagine that increasing levies to cover upgrading common areas would be palatable to most so we must find another way. This is probably not the best time of year to embark on this project as lots of us are very busy with the festive season but I think a meeting early in the New Year would be a good idea. We also need to think of someone to head up the project now that Rohan is leaving us. Just for the record my wife (Anne) has now retired and would be happy to do some work on this. She has a great creative flair and is well organised.
>>>  
>>> I’d be grateful for your comments.
>>>  
>>> Many thanks
>>>  
>>> Andrew
>>>  
>>>   
>>> Andrew James
>>> Project Director of Pharmacy
>>> 
>>> 119-143 Missenden Road
>>> Camperdown NSW 2050
>>> PO BOX M33 Missenden Road NSW 2050
>>>  
>>> Phone: +61 2 85140945
>>> Mobile: +61 400 202 279
>>> Email: Andrew.James at lh.org.au
>>> Web: http://www.mylifehouse.org.au
>>> 
>>>    
>>> 
>>> This email and any files transmitted with it are confidential and are intended solely for the use of the addressee. If you are not the intended recipient, then you are requested to notify us by return email and destroy any copies made. Copying, forwarding or disseminating any of this email and any file attachments without the permission of the author is strictly prohibited. Any views expressed in this message are those of the individual sender and may not necessarily reflect the views of Chris O’Brien Lifehouse or its affiliated companies.
>>> *hWK4nY*
>>> From: ec-bounces at 200william.com [mailto:ec-bounces at 200william.com] On Behalf Of Pia Cunningham
>>> Sent: Thursday, 4 December 2014 4:06 PM
>>> To: ec at 200william.com
>>> Subject: [200William-EC SP67851] Updated Sinking Fund Forecast
>>>  
>>> Good Afternoon Committee,
>>>  
>>> Please find attached updated sinking fund forecast for both the BMC and residential.
>>>  
>>> Should you have any queries regarding the above, please do not hesitate to contact me.
>>>  
>>> Have a nice day,
>>>  
>>> Kind regards,
>>> 
>>> Pia Cunningham
>>> Strata Manager
>>> BMC Manager and 
>>> Company Title Manager
>>>  
>>> Phone: (02) 9266 2600 | Email: pcunningham at stratatitle.com.au | Address: PO Box 72, STRAWBERRY HILLS NSW 2012, Level 7, 447 Kent Street, SYDNEY  NSW  2000
>>>  

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