Re: Questions re. maintenance of 93 Tenison Road

[Heather Kara]

Dear Laura,

Yes, happy to answer the questions for you.

1. Sinking fund - currently we don't have a sinking fund.  As we have been the landlord for about 7 months now, we started from scratch. The previous landlord had gone into administration, and so apparently there was no sinking fund prior to our purchase anyway.   We do have plans to start a sinking fund as soon as we understand what our annual budget is and therefore know how much we can contribute to it annually.

2.  Repairs - currently we handle repairs on an as needed basis.  Once reported to us, if it's something small (changing a light bulb), we'll get that done as soon as is possible.  If it's something big but not urgent, we will discuss at next meeting (held monthly) and determine the time frame for the repair and how to pay for it.  If it's something urgent, one of the members of the company will take responsibility of the repair and recover any costs from the company later.  Of course, we have insurance for big items.  We have found this system to work quite satisfactorily with the bonus of keeping running costs low and this has meant we can have the benefit of better services without having to raise the service charge.  Currently we have 2 members living at 93 Tenison Road and while I don't live there, I visit on a weekly basis.  There are a few other members who live nearby.  We

I hope this satisfies your buyer's queries.

Yours,

Heather Kara

On 30 January 2013 12:55, Laura Morley <laura...@cantab.net> wrote:

Hello all - Laura Morley from flat 3 here.

We're in the process of selling our flat (now there are three of us, we need another bedroom!) and I have a couple of questions from our buyer. Would any of you be able to help me in answering them?

1. How much money is currently in the sinking fund to cover building repairs?

2. How will decisions about repairs (e.g. when they're necessary, how they'll be paid for) be taken?

If anyone has a chance to reply today I would appreciate it hugely, as the buyer needs this information to keep our transaction moving. If it's easier to speak in person, please give me a call or drop round to Flat 3.

With many thanks and best wishes,

Laura

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[Laura Morley]