Next summer

[Todd Sears]

Hi boys-

Hope everyone is well.  Amazingly enough, it's time to start thinking about next summer.  We'll need to know if everyone plans to renew by later this month.  I have to confirm with Nicole on the exact date.  Can each of you let me know your thoughts (either to the whole group or privately)?  Thanks!

--

todd g. sears / founder & principal 
todd....@outleadership.com

out leadership 
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www.outleadership.com

       

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[Frank Rockett]

Although this is by far my favorite lineup of housemates in the past 5 summers, I regretfully share that it will be my final contiguous season - at least for now. I've had a wonderful time but I'd like to explore new territory as I embark on my 50th year (and beyond). 

Hopefully one or more of you will invite me back for a Tuesday or Wednesday mid week respite next year.

Much love and best wishes finding a replacement that just right. See you all soon.

F

Sent from my iPhone

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[Todd Sears]

Hi all-

In related news to next summer, I'm excited to share that Chris and I, in partnership with Matthew, Jon, Kaolin and David, have an accepted offer to purchase a house on Crown Walk.  The offer was accepted last night, with final confirmation with Nicole today (it's another one of her houses).  We're all very excited to be embarking on a new adventure, though we'll all obviously be sad to be leaving Beachcomber after so many great years.  

As you may know, we have until August 15 to break the 2 year lease, which I am emailing Nicole to do today to remove myself from the lease.  In an effort to make sure it's as smooth of a transition as possible, she has agreed to honor the terms of the lease for next year for everyone remaining.  She's also willing to let Eric be the sole lease holder if he wishes to, or add someone else to the lease should he/you want to add someone.  I'll make sure all our bills are taken care of through October of this year, and will transfer the QuickBooks files etc to Eric (or whoever will be taking over all my responsibilities going forward).  

Looking forward to a great rest of our last summer with all of you!  See you this weekend-

Todd (and Chris, Matthew, Jon, David and Kaolin)

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todd g. sears / founder & principal 
todd....@outleadership.com

out leadership 
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hong kong | london | new york | são paulo | sydney 
www.outleadership.com

       

[Headley Keith]

WOW! That is BIG news. Congratulations on your purchase! I know that it will be an exciting new project for you guys… although we will miss all of you around Beachcomber. Eddie and I personally wish you the best.

Eric is going to contact Nicole and take up discussions about going forward. Meanwhile we can all enjoy the rest of this summer and continue to make plans for a smooth transition in the fall.

See you in a couple weeks.

Cheers!

Keith (&Eddie)

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[Christopher Rawlins]

Hi Todd,

 

First of all, I am very sorry to see you go! But given how much you pay for your shares, and the state of the real estate market, I think you guys made a shrewd choice. Congratulations!

 

Based on some feelers that the remaining housemates have put out there, we appear to have sufficient interest by new recruits to keep Beachcomber going. To this end, I have a finance question for you. If I’m reading the latest P&L spreadsheet correctly (attached), we appear to have a $23,856.74 surplus. Divided by 16, that totals $1,491.05 per half-share. Is it reasonable to infer, based upon all other conditions remaining the same, that next year’s half-share would cost $1491.05 per person LESS than this year? Or am I not factoring in other considerations?

 

Based on the assessment + rent, it appears that the budgeted cost per housemate this year was $6,781.18 per half-share. Can you confirm this and explain how the security deposit factors into it as well? Thanks!

 

Chris

 

 

Christopher Rawlins Architect AIA

President, Rawlins Design Incorporated

President, Pines Modern Corporation

(O) 646-429-0797 x1

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Ch...@RawlinsDesign.com

www.RawlinsDesign.com and www.PinesModern.org

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--

todd g. sears / founder & principal 
todd....@outleadership.com

out leadership 
+1.917.336.0604 x700 
hong kong | london | new york | são paulo | sydney 
www.outleadership.com

       

 

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[Todd Sears]

Hi Rawlins-

Thanks for the well-wishes!

To answer your questions, the key financial costs for this year are:

$7,050 security deposit (which is $440.63 per half share)

$70,500 rent (which includes a $2,000 early renewal credit - otherwise it would have been $72,500) - which is $4406.25 per half share

So the total per housemate for the rental is $4,846.88 per half share.

In terms of the house expenses, I took the past two years total cost (there was very little I had to go on by category, just a mess of sheets) and averaged them together and divided by 16 which was $2500 per half share.  What's been interesting is that due to a number of factors (no more gas heater, better liquor controls, and what I can only imagine is just better financial controls) we still have $22,190 left in the Beachcomber account.  We still have 2.5 months of expenses left, which includes paying Francisco, house expenses etc., though this does include the latest liquor purchase I made this weekend to replenish wine and tequila.  I would imagine we'll end the season with $18k or more left in the bank which we will just return to everyone in November once we've made sure we have no final bills (we generally get our final power bill in November etc.). 

In terms of planning for next year, you'll have to make your own decisions as to how much you want folks to pay in house expenses.  Keep in mind that Kern used to bill as he spent over the course of the summer, versus my decision to get it upfront so I didn't have to chase.  Up to you guys how you want to handle going forward.

I will confirm with Nicole, but I assume that we will receive our security deposit back in January as we usually do.  I'll let her return it to Eric and then ask that he distribute it to everyone (or credit it to those remaining if you want to do that).

For reference, I'm attaching the statements that I generated for you as a guideline that you can use.

Hope that helps--

t

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todd g. sears / founder & principal 
todd....@outleadership.com

out leadership 
+1.917.336.0604 x700 
hong kong | london | new york | são paulo | sydney 
www.outleadership.com

       

 

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todd g. sears / founder & principal 
todd....@outleadership.com

out leadership 
+1.917.336.0604 x700 
hong kong | london | new york | são paulo | sydney 
www.outleadership.com