Winter Update

Accounts

• After many months, we have finally agreed 21/22 accounts with Firstport. This will allow Urang to complete the handover accounts for 2023/24.

• As part of this, which was part of the reason for the delay, we settled £15k of claims against Firstport without incurring any legal costs.

• We have also settled a £7.5k KPI claim and £10k of other value for money claims against Urang.

• Budgeted spend over the last three years amounted to around £900k. With Urang, we have ensured that over this period, and with the benefit of £33k of successful claims, we have a surplus of around £6k, subject to accounts finalisation.

• Urang has achieved a 30% reduction in budgeted 24/25 insurance costs

• The Board has initiated the process of updating the Long Term Maintenance Plan for which reserves are accumulated. The expected spend over the next 7 years is £1.1m so this process is key to ensuring our spend is managed.

Performance

• Following the agreement of claims, the Board has reset and stabilized Urang's performance with appointment of senior property manager and assistant property manager

• The Board has created a new EV charging policy and process including an updated contract and recovery of past usage charged to communal bills.

• The Board is in the final stages of appointing a parking enforcement company with updated rules. This should be complete in the next fortnight

• The Board has enforced covenants in respect of inappropriate developments, short stays and leaseholder information including the recovery of £8k of associated legal fees.

• The Board is determined to enforce covenants which require all residents to inform the Board of any sublet of their property, Residents are reminded that use of a property as a short term holiday home, for example through Airbnb, or letting to multiple individuals is not permitted by covenant. The Board will do everything in its power to enforce this covenant.

• The Board has begun the process of enhancing the look of the communal gardens with limited budget. This will continue into 2025.

• The Board is conscious that it has yet to reach agreement on the long outstanding issue of the satellite dish. The Board was advised that the cost of replacing the existing cable from the Roebuck roof would be £30k and could not be guaranteed to succeed. This left the Board with the option of lowering the satellite dish below the wall height of the building on which it was mounted and building a red cedar wood cover. The dish was lowered but the cover is yet to be constructed. This may turn out to be the only feasible solution but it is be agreed by the homes which have sight of the dish and so the Board will continue its search for a solution.

The Board

• Nigel Smith has resigned as Chairman of the Board. This is a reminder that all directors are volunteers who give up their time and who strive to serve the interests of all residents in a balanced way, recognising that not all views can be accommodated within the rules which govern us, principally the covenants.

• The date of the next AGM is yet to be finalised. It will follow the finalisation of accounts and so is likely to be in late February 2025.