18:00 Wednesday, October 29th was the first association meeting for the owners at Bozetechova. Because of our power of attorneys from you as clients we had about 43% of the vote. This will increase as final flats are registered in the names of our clients at the Land Registry. Before the meeting we discussed many things with the developer regarding the building management company, payments for common areas, etc. so we feel we have a good solution in place.

 

The building management company feels we should be able to eliminate our client’s individual property insurance and cover it as one block from the building. We are researching this option as it could potentially save all owners about 100 CZK/month/flat.

 

The fees for the common areas, maintenance fund for the building, etc. will come in exactly as our estimates or slightly before so there are no changes in this. The first payment will be due in November/2008 and the building management company will issue an invoice for each flat. We will pay this in behalf of owners who have tenants as well as those who have made an owner contribution to their rental fund.