15 May 2007 11:52 PM:

Hi Dean,

I attended the inaugural meeting on behalf of a client at Green Valley, where I manage a number of properties.  I have a set of my own notes which I  prepared for my client and which you are welcome to have a copy of.  These notes may differ from the official minutes.  I understand that in Spanish Law the accuracy of official minutes, signed by the President and the Administrator, are not subject to approval by the members of the community and can only be challenged in court.  

With regard to the quarterly charge, in my experience the charge is in line with those levied in similar communities where I have managed clients and where I have produced community budgets myself.  The charge is based upon the initial budget prepared by the Administrator and it is a "best guess".  Typically, the first year's budget tends to be a little over-estimated.  This may not turn out to be the case at Green Valley, but it is normal.

If it cheers you up, you might have been paying another 200 € per quarter if I had not intervened at the meeting to point out that 24 hour security was going through "on the nod" without consulting the majority of the owners.  It was agree that this should be the subject of an EGM.

Best wishes

Michael 

Community thread: Advice required

--------------------------------------