The 2009 financial statements are complete and available for download here.
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Tag: billing
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Maintenance assessments
Starting August 16th, 2010 we shall commence with the measuring of homes for the purposes of assessing the correct maintenance charges applicable for each home. We have instructed Licensed Architects, Douglas Minns, to proceed with the work at an agreed fee of $60 per home which will appear on the next maintenance bill. For security purposes the surveyors will be in possession of a Letter of Authorisation from the Association which they may present on request. Owners are encouraged to remain vigilant and contact security if they have any concerns.
The area used for determining the applicable maintenance charge is defined as follows:
- All enclosed building areas measured along the exterior perimeter walls.
- Enclosed garages (whether or not they are air conditioned).
- In the case of townhouses half of the area of the common walls.
- Covered porches, covered balconies, carports, gazebo’s and tool sheds are not included in the measurement. Fully enclosed porches and balconies are included (mesh screening does not qualify as enclosed for this purpose).
- Air conditioned third floor space (such as converted lofts).
There may be some instances that require interior access and we would appreciate your assistance in accommodating the surveyors in this regard. The process is expected to take approximately 3 months for the entire development, we will hand deliver written notices of the homes scheduled for survey each week during the preceding weekend. If there are any particular concerns or instructions regarding access at that time, please communicate them to our Head of Security in the first instance. If there are any other concerns, they may be directed to the General Manager.
Following each survey, our records will be updated and future maintenance charges will be based on the most recent assessment. There are no plans to retroactively adjust the maintenance fees.
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Shareholder certificates
Since ownership of the Association was transferred to the Property Owners, we have started the process of issuing the share certificates. Each property entitles the Owner to one share in the Association however in many cases we do not have all of the information required to enable us to issue the share certificate.
If you have received a share certificate, you may disregard this notice. If you have already provided information but do not yet have the share certificate in your possession, please contact the office as it may be awaiting collection. If you have not provided the information, please download the attached form and fax it to +1 (242) 327 8665 or email it to shareholders@sandyportmanagement.com. If you rent the home, please also complete the second page providing the tenant information.
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Changes to water billing
In order to improve the efficiency of water billing, we will be reading the meters once every quarter. The next readings will be carried out in September and every three months thereafter.
We will be sending future water bills on the same invoice as the service charges each month. The water component of the bill will be an estimate based on previous consumption. The quarterly bill will consist of the actual since the previous reading minus the estimated charged.
Owners benefit from a $40 per annum saving in meter reading charges.
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Improved collections procedures
We have revisited our revenue collection procedures in a bid to collect funds in a timely manner that will enable us to deliver a better and faster service. The bills are due on the first of every month and, to allow time for preparations, we generally send them out about 2 weeks before the due date.
If there are any queries, we would ask your assistance in bringing them to our attention before the due date. If not, we would appreciate payment as close to the due date as possible.
In addition to internal changes to our procedures, we have arranged for the assistance of debt collection agencies for delinquent accounts both here in The Bahamas and the UK in order to minimise our exposure to risky debts. Since their fees are paid by the debtor, the Association bears no cost for their services.
We have already seen an improvement over the course of the last month, reducing the outstanding balances by about 9 days and we expect to see further improvements over the next few months. We thank the owners that have historically been timely in paying the service charges and would ask everyone else to assist the Association by making payment a priority.