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July 2014 Newsletter

Note from the Chairman

 

Dear Owners,

Over the last weeks, we have seen some changes in the status of Golfe Santo Antonio (GSA) as they now progress towards “liquidation” and the selling off of the company.

We will continue to keep the members informed with publication of Bulletins, the most recent (No. 3) setting out a number of clarifications on the “liquidation” process.

We also look forward to meeting the new Resort Director, and continuing the good working relationship with the GSA Management.

Irrespective of the outcome of the “liquidation” process, you will recall from the Motions at last year’s Annual General Meeting that we are in a position to negotiate a new Community Services Agreement and, if necessary, establish contracts for services, to ensure that essential services are maintained, and that QDM is maintained to the expectations of the Owners.


QDM Swimming Pool

The fixed sun parasols are now installed on one side of the pool; one side has been left clear (under the palm trees) for the sun worshippers. We have left a number of concrete bases and tubes around the pool if Owners wish to bring their own umbrellas to the pool, under their own responsibility.

newpool

Reminder to Owners and your tenants – please respect the rules, in particular please remember to keep the gates closed and locked – and no glasses or glass bottles – everybody can then enjoy the use of the pool.


Owners’ House Accounts

The personal House Accounts are now online, for the Fractional Owners the overall House Accounts will be online shortly, with access available to the relevant Owners.

House Account details – Owners should carefully check the details on their House Accounts, including the supporting Owner information. Any queries about the House Accounts should be brought to the attention of Mr. Eduardo Martins (Accounts) at eduardo.martins@saresorts.com

House Accounts – GSA is introducing a voucher scheme (for golf, tennis, Spa, etc.) if you maintain a positive balance in your House Account. Details will be published on their web site when finalised with the new Resort Director.

If your House is managed by GSA, it is now more important than ever to maintain a positive balance in your personal House Account. If there are insufficient funds, GSA will not pay the utility bills (water and electricity) and there have been a number of instances where the Camara and EDP have cut supplies, and it costs (for example, €50) to be re-connected, as well as the inconvenience.


Community & Urbanisation (C&U) Charges

With respect to the C&U charges, we will continue to pay monthly in arrears, with Fractional Owners paying their Management Fees quarterly (halfway through the quarter). This may need to change when a new company takes over from GSA.

We continue to closely monitor the implementation of the Service Standards through the quarterly surveys and check-list, with an appropriate discount applied to the third month of each quarter – 8.5% for the 2nd Quarter 2014.

For the next Quarter, we expect to see a reduced percentage – a long-term item has now been implemented – for the pool, daily water quality and temperature readings are now displayed on the notice board in the kitchen area.

For the perennial non-payers, access will continue to be restricted at the pool, and on the main Resort, discounts on certain activities will not be available.


Reserve Fund

We have had a good response from Owners to the request for this year’s Reserve Fund contribution (€100 per house), approximately 55% paid up until now – thank you very much. A gentle reminder to those of you who have not yet paid, bearing in mind the current financial state of GSA, and the need for us to ensure the continuance of our core infrastructure.


Transfers from UK Bank Accounts (£) to Portuguese Bank Accounts (€)

A number of you have asked for advice on the best ways to transfer your money from a UK bank account (£) to a Portuguese bank account (€) whether it’s to the GSA accounts, to your Management Company’s account, or to your own Portuguese bank account (for example, as a number of Fractional Owners have now established).

The main problem arises from having “monthly payments in arrears” of less then €100.

We can offer the following recommendations –

–       establish a Portuguese bank account in Lagos or Vila do Bispo – for this you need a minimum of €100, your fiscal number, your passport, and a utility bill as proof of address; you can then establish, for example, a direct debit to GSA, as well as for utility bills; or

–       ask your Management Company to hold monies on your behalf so that you can then transfer more than €100 at any one time to them, and then ask your Management Company to make the payments as requested by GSA; or

–       transfer money to the GSA House Account bank account, which then goes into your personal House Account, and when GSA make payment requests, authorise them to transfer the money from your personal House Account.

For transferring money, our Treasurer uses CAXTONfx which gives a good exchange rate, zero transfer fees, with a minimum of £100 to be transferred.

We have been assured by the Administrator that the GSA House Account bank account is protected in the “liquidation” process as it is Owners’ money; but we would still recommend to keep your positive balance to no more than few hundred Euros.


OA Subscriptions

We have also had a good response from Owners to the request for this year’s OA subscriptions (€20 per house). These are important, especially if we are required to take significant legal advice with respect to any new Management Company and associated revised Community Services Agreement.


Holiday Season on the Calçada

It’s that time of year when children are running around on the calçada and up and down the steps.

Please remind your tenants and management companies of the need to drive slowly (there are warning signs which a number of people continue to ignore). We are in the process of assessing which speed bumps to install on the calçada, which would be installed approximately 1 to 2 metres prior to the steps.

Finally, we are still in challenging and interesting times for the Resort, and hope to see some positive developments over the coming weeks and months. We will keep you informed.

Best regards

David Murphy

Chairman, Executive Committee

13th July, 2014

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