Stair fund query

maggiesoup

She has eventually said that others in the stair have shown an interest in being part of the Association and she is going to put a note through everyone's door in the next couple of weeks.  As I own one of the flats I'll be able to monitor that she does this.  I just think this is yet another time-buying exercise.  I simply want to see the bank statements now to see how much is in the fund.  Wondering if anyone knows what legal jargon I can use.  Thanks again.

canaldumidi

Talk to the other residents.

Get hold of the RA terms of association.

Call a meeting?

TripleH

How is the RA run?

Check your contract, I don't know Scottish law nor have experience of it but does your purchase contract have any information about paying such fees in it as this might be a good place to start for wording as it may well tell you on what grounds you have to contribute?

Eg. In England, my leasehold agreement under section 13.2, 13.4 and 13.5 says I must pay £x a year for insurance and maintenance and section 14.1 says accounts must be prepared for availability to all residents. I have made the section numbers up but that is what I mean. My lease tells me I have agreed to pay these amounts and am responsible for producing accounts for circulation to all residents, as none have been circulated I need access to the records to do that immediately. ( you can be more diplomatic about it) but that would be where I would look to see if you have said requirements in place.

TBagpuss

Can you talk to the other residents? 

If you as a group require her to provide the information then you're more likely to get it, equally if you as a group can be clear about what you want to happen next (e.g. Alison and Barack to take over with Connie as an additional signatory for emergencies, we need you to bring the records up to date, cooperate with the paperwork to get the bank account signed over and hand over all the paperwork by [date]) rather that just a vague "you need to sort it out" then you are more likely to get results.

I'd agree that one way to get things moving forward may well be if you all stop paying in. 

It sounds to me as though the previous person probably did all the work and that she is not floundering, and hiding her head in the sand rather than sorting out. In which case suggesting that you (or another resident) meet her to help go through everything and draw up the necessary accounts / spreadsheet may be the way to go. 

maggiesoup

Different system and as mentioned it was started privately. 

Thanks for all the help on this matter.

TripleH

As an addition, it is always best to have 2 signatories on an account, if the current one falls ill and is hospitalised when an important bill (insurance) falls due, you could find yourselves without cover.

It's never nice having to piece together things when you can't refer to the previous incumbent of the position even when you know what you need to do.

Maybe push for 3 signatories to the account, if you are adding one, it's easier to add another at the same time.