Dear owners,
You have received a communication from Resortalia asking you to draw your own conclusions if self-administration is good for HR. Included in the communication are figures comparing HR against El Valle.
It is important you are aware of the facts and the actual differences between the two Resorts. There is no evidence to support the claims being made by Resortalia.
1. HR has 1864 apartments, El Valle has 688 apartments and villas and is structured completely differently to HR.
2. You are being led to believe that the Resortalia Administrators annual fee is €72,549.67. This is not true. This is only for the General Community; we also pay €124,275.00 through our buildings budget so the figure he should have used is €196,824.67. This does not include the additional increases he wanted us to pay from 2021.
3. I have spoken to the Resort President of El Valle on many occasions as well as all the other Resort Presidents in the area to see if we can have some common ground in helping all the resorts. The RP of El Valle has kindly forwarded to me details of what they actually have budgeted for inhouse self-administration services. He did not give authorisation to Resortalia to publish his figures; why would he when they are wrong. He has given that authorisation to me. The total of their office admin cost is €96,120.00 not €136,520 as you are led to believe.
As you know, we will be making significant savings on the HRGR 2021 budget, so you can draw your own conclusions as to whether we are getting a good deal.
Thank you,