Circular 146 / 9.6.2006 / Management Charges

First, many thanks to all owners who pay their management fees up to date. This allows CGM, which is a not-for-profit management company to manage Clifden Glen efficiently.

The management fee for 2006 was maintained at 2004 levels and is €1,800 per Lodge and €900 per Cottage plus VAT at 21%. The management fees are used to pay for:

- building and contents fire insurance on all 127 properties (worth €500+ per Lodge)
- external painting of properties (costs €500+pa averaged out over 5 years per Lodge***)
- managing and staffing Reception and dealing with all owner issues
- public and employers liability insurance on the site
- maintenance of sewage treatment plant
- maintenance of sewage pipe work to 127 properties
- maintenance of water pump house and reservoir
- maintenance of all water pipe work to 127 properties
- all public lighting on the site
- all road maintenance on the site
- maintenance of the leisure areas - tennis courts (3), mini-golf and childrens' play area
- refuse collection for 127 properties
- all grass cutting, weeding and general landscaping
- managing relationships with statutory
- inspection and record keeping
- ensuring regulatory compliance in relation to water quality and sewage treatment.
- fencing, boundaries and public area painting
- staffing to manage the above activities (€77,500 pa to include CGS and Administration)

*** allow half of this figure for each Cottage.

All rental activity such as house cleaning, internal maintenance of properties, laundry, provision of linen etc is paid for separately only by those owners who let their properties. The "changeover" fee is currently €125 per Lodge and €75 per cottage (subject to VAT at 13.5%) and this is paid direct to CGS (not CGM) who provide all on-site manageemnt services at Clifden Glen.

Nineteen owners now pay by quarterly standing order and this is a great for CGM's cash flow and administration.

A tiny minority of owners have not paid their management fees up to date and the respective amount outstanding is being emailed to all shareholders separately today. The list will be for those owners who are overdue in excess of €1,250.

Clifden Glen Management (2005) Plc
Market House, Churchtown, Mallow, Co Cork

Click here to return to the Noticeboard list.