Posted by StefanN on July 22, 2007, 5:06 pm, in reply to "Re: some maths on service charges"

I understand that the percentages vary based on the block, but they shouldn't vary based on the flat size if you look on increased SC%. My understanding was that BWFL had build reserves for each block for the likelihood of unexpected expenses. These reserves should cover those unexpected costs and I do not understand why they couldn't be used for the wheelhouse. Why build up reserves if they do not cover anything? Why are all people hit by unexpected costs directly? Could you possibly explain what reserves mean to you then? I have the feeling that at least 2006/2007 things went very wrong for BW regarding the financials. I got the impression that everybody involved in this gets very quite at the moment, trying to not get the blame. The slogan is: let's wipe it under the carpet and in 6 months noone will remember. I will! I have the service charge stats for the last 10 years and I will not be quite until someone explains the case. And I am f***** tired to hear these speeches where people say that they work voluntarily, the do everything in the interest of BW.... It is our investment we put into BW, it is our wallet hit by the SC and it is us taking the risk. I don't know who messed it up the last years. I don't know wether the directors were nice and friendly but incapable of doing a good job. I don't know if R&R is innocent or just an incompetent agency. I don't know if our solicitors are good guys or if they just found a goldmine with BW. All I know is that I invested a lot of money and I do want the premises being handled in an professional way AND in the interest of the leaseholders. AND I DO NOT ACCEPT 76% SC RISES!!! PS: I still have the SC figures for 2005 and trust me I will compare them with a close eye to the ones to come.

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