Proposta: distribuição dos lucros da operação turística/Proposal: distribution of profits from renting out appartments

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Dr. Obé

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Feb 14, 2017, 4:54:16 AM2/14/17
to Albufeira Jardim

A distribuição dos lucros da operação turística de Albufeira Jardim tem sido intransparente desde o início. Uma distribuição justa dos lucros segue a participação no negócio, conforme determinado pela fracção imobiliária. Para tornar transparente a distribuição dos lucros, propõe-se a seguinte alteração.

 

O documento ´Empreendimento Turístico “Apartamentos Turísticos Albufeira Jardim” Títuloconstitutivo da composição do empreendimento e seu regulamento´ ( see https://tinyurl.com/AJ-Titulo ) é alterado adicionando

 

 

Artigo 26

 

6- A comparticipação nos lucros da exploração turística exclusivos do conjunto situado a sul do empreendimento, sub-denominado ALBUFEIRA-JARDIM 1, será determinada em função do valor relativo das fracções imobiliárias que constituem esse sub-conjunto e são em exploração turística, correspondente ao prédio constituído em propriedade horizontal e descrito na Conservatória do Registo Predial de Albufeira, o qual será igual ao das permilagens constantes do respectivo título da propriedade horizontal e distribuído exclusivamente aos proprietários das unidades de alojamento constantes desse sub-conjunto que as tenham em exploração turística.

 

 

Os proprietários que desejam discutir este documento estão convidados a aderir ao Internet fórum de proprietários de Albufeira Jardim em https://groups.google.com/forum/#!forum/albufeira-jardim

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Free English translation:

 

The distribution of profits from the tourist operation of Albufeira Jardim has been intransparent since the beginning. A fair distribution of profits follows the share in the business as determined by the real estate fraction. To make the distribution of profits transparent the following change is proposed.

 

The document 'Empreendimento Turístico “Apartamentos Turísticos Albufeira Jardim” Títuloconstitutivo da composição do empreendimento e seu regulamento´ ( see https://tinyurl.com/AJ-Titulo ) is modified by adding



Article 26

6- The profit sharing of the tourist operation exclusive to the complex to the south of the development, named ALBUFEIRA-JARDIM 1, will be determined according to the relative value of the real estate fractions that constitute this sub-set and are in tourist operation. The relative value is determined in the corresponding real estate listing constituted in horizontal property and described in the Building Registry of Albufeira. It will be equal to the permillage in the respective title of the horizontal property and will be distributed exclusively to the owners of the housing units included in that sub-set that have their units in tourist operation.


Owners who wish to discuss this document are invited to join the Albufeira Jardim owners’ Internet forum at https://groups.google.com/forum/#!forum/albufeira-jardim


Jose Teixeira

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Feb 15, 2017, 6:46:40 AM2/15/17
to Albufeira Jardim
The Profit Shearing of the units under tourist operation was discussed and is was ruled in the new contract and correspondent annex with Geração Proeza.
For your understanding, this amount will be sheared according with the permillage for what 2017 concerns.

As already explained, and by the fact that not all units with the same permillage has the same touristic and commercial value, the offer in terms of tourism in the future (2018 on), will have different prices taking in account the unit location and the upgrades done that will classify the units. It's important to remember that when the enterprise was build the units had different purchasing prices according with location. In example, one T0 revamped and with sea view doesn't have the same touristic value as a similar size T0 on basement and on the back of the swimming poll!

In that sense and to give to all owners the opportunity to increase the rate of their own units, an evaluation will be done to all units and in part of the cases will be proposed an up-grade revamping to push the unit to a better level in terms of profit/touristic value. For the case the matrix of Profit Shearing will be Managed with a Premium for the upgraded units.

For general understanding, and due the fact that Commission had a limited time frame to solve, select and negotiate all points with a new Company, avoiding a "black hole" without management, due to the unexpected leave of Admitur from the touristic exploration, not all the details are passed through the owners yet. Moreover those details has to be explained in the meeting that Commission want to have with this specific owners before the General Owners Assemblée that they are trying to book with Admitur.
This negotiations and agreements were the ones the General Assemblée occurred in Dec 10th, gave them permission to do.

As said, agreements were done, contract is in place and now is time to work for the future and to implement in the field what was agreed.
Commission has now the task to help in the closure of the accounts with Admitur.

Next General Owners Assemblée Commission will give all details concerning the agreements done and the way that enterprise will work.
Hope to see you there.
Regards,

Dr. Obé

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Feb 16, 2017, 3:36:42 AM2/16/17
to Albufeira Jardim
Let me thank you for the details that you have shared and the work that the commission has done. It is of course irregular that the administration has not sent the meeting minutes from the extraordinary owners’ meeting in December. Please post the contract that you negotiated with the new administration in this forum.

In the past profit sharing has been intransparent and, contrary to regulation, the profit accounting has not been published for any owners’ assembly. It would be a significant improvement if future invitations to owners’ assemblies included the revenue and profit accounting.

It would also be relevant to know whether 2017 profit sharing will follow the permillage listed in the annex of the 'Título Constitutivo’ or the permillage listed in the land registry. When Albufeira Jardim 1 was built, the apartment prices corresponded to the permillage listed in the land registry as you can see in the attached price list. The permillage from the land registry also determines the cost attribution to owners whose apartments are not rented out. It seems fair to apply the same measure for profit distribution.

There may be value in incentivising owners to upgrade their apartments but I anticipate significant discontent with the valuation that you propose as it cannot be objectively verified. Fortunately the profit distribution does not impact the operability of the administration. We agree that the decision on the profit distribution will be made by the owners’ assembly.

I value the discussion here as it may lead to quicker and clearer decision making in the upcoming owners’ meeting.
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Deixe-me agradecer-lhe as informações que você escreveu e o trabalho que a comissão fez. Irregularmente, a administração não enviou a acta da assembleia extraordinária dos proprietários em dezembro. Por favor, poste o contrato de ter negociado com a nova administração neste fórum.

No passado, a participação nos lucros foi intransparente e, contrariamente à regulamentação, as contas dos lucros não foi publicada para qualquer assembleia de proprietários. Seria uma melhoria significativa se futuros convocações para assembléias de proprietários incluídas as contas de receita e de lucro.

Seria também pertinente saber se a participação nos lucros de 2017 seguirá as permilagems enumeradas no anexo do 'Título Constitutivo' ou as permilagems constantes do registo predial. Quando Albufeira Jardim 1 foi construído, os preços do apartamento correspondeu ao permilagems listados no registro predial, como você pode ver na lista de preços em anexo. O permilagem do registro predial também determina a atribuição de custos para os proprietários cujos apartamentos não são em exploração turística. Parece justo aplicar a mesma medida para a distribuição de lucros.

Pode haver valor em incentivar os proprietários para renovar seus apartamentos, mas eu antecipar descontentamento significativo com a avaliação que você propõe como ele não pode ser objetivamente verificada. Felizmente a distribuição de lucros não afeta a operacionalidade da administração. Concordamos que a decisão sobre a distribuição de lucros será feita pela assembléia dos proprietários.

Eu valorizo ​​a discussão aqui porque pode levar a decisões mais rápidas e mais claras na assembleia dos proprietários.
AJ_1971_pricelist_German.pdf

Jose Teixeira

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Feb 17, 2017, 12:04:07 PM2/17/17
to Albufeira Jardim
Dear Mr. Obé.
Thanks for your compliments. We as owners as you are, are interested in the best for Albufeira Jardim I. We have there our investments, so we need to protect it.
Concerning the postage of the contracts in the forum, you may have to excuse me but I will not put any official document in a forum. Documents are for the owners and will be sent to everyone by e-mail immediately after the General Assembly, that is where they have to be explained before mailing.

Concerning the distribution of 2017 profit, and as I already explained, will be by permillage, but in fact I don't know witch is the one used for that propose. In any case with one base or other in the future will be different. Apartments are different and commercial prices has to be different and for the ones that condition and location aloud to be sold by higher prices, has to receive a premium for that.
In terms of payment, for sure that Comissão will be informed and could revise the accounts before. Numbers will be clear and I guess that an explanation of the numbers should be done each year by Comissão in order to ensure that profit is well calculated.

As you can imagine there are apartments without one € of investment and others with 20 K€ of investment! Those are sold by higher prices and the owners will be paid with an obvous premium due the investment they made. In any case this point will not be decided in the General Assembly because it's part of the contract already signed and for witch we receive from the Assembly authorization to sign and decide.

As soon as Comissão has news we will send information to all by e-mail.
Thanks and Regards,
J. Teixeira
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