Plan, plan and plan some more

QUESTION: Is Stonewall Central a better name for the property?
UPDATE (click): 2012 Audited Financial Statements
UPDATE (click): 2013 Annual Meeting packet
UPDATE (click): 2013 Special Meeting packet

AUDITED FINANCIAL STATEMENTS ANALYSIS 2009-2012 (click): A CPA analysis of SOHO Central Condominium Corporation's Audited Financial Statements

The Fantasy Vision

Does everyone remember this among the wonderful ads and brochures and how about the salespeople and what they told us. I hear such fantasies continue. So after watching and remembering, cry and then laugh at the truth that is being exposed.









And, if the above is not enough and you need elevated blood pressure, here is the project's brochure.

Many posts are still issues and need to be read once again. At this main hub of postings watch for new posts and updates. Please get involved by spreading the word as to the issues here. We must document all that is taking place. Many documents need retrieval and assistance is needed in getting them scanned and posted.

Friday, December 26, 2014

Soho Central not running well

Soho Central not running well

There were a few entities involved with the establishment of the condominium corporation comprising the land and building.

As was mentioned at a gathering I attended, "businesses can't be a partner in profit only."  I thought to myself, yes, there are also liabilities.  The elevators in Soho Central are just one example.

Tuesday, December 23, 2014

Real Estate Property Tax for UNITS!!!

Real Estate Property Tax for UNITS!!!

I had written and talked about this with many in the past, pay your real estate property tax for the unit(s) before the end of January 2015. There is a 10% discount unlike the 20% in Marikina from what I read. This is the real estate property tax for the UNIT. I think many are still not aware of this tax. Why? There has not been a clear explanation from what I have noted. The common real estate property tax in the Soho Central Condominium Corporation bills is for the common property of the building. It is not the real estate property tax for individual units. Some may not have paid the tax for their units and will have to pay for past years with penalties. So time to get caught up on your individual unit(s) now.

Wednesday, December 17, 2014

Something New is Old Again

Something New is Old Again

So many occurrences with the elevators that when you think you have experienced all bad that can happen something new and bad once again strikes.

Yesterday, Passenger Elevator 4 (PE4) stopped and I got on with another person and it then stopped at the 15th floor and a woman had to press the button since by the time she got to the car it was closing.  When the doors opened each side seemed to slam into the side as it sounded.  What is that all about?

In fact, what are all the details and the full & complete story with all backup documents concerning the elevators?

I know many renters have left and was told recently by just one broker that three more are leaving and six more may go early next year.  I was also told that Twin Oaks, a Greenfield project, has mostly Soho residents moving in.

Late at night only one elevator was working and the Service Elevator from what I was told was not operating.

PE4 doors also seemed to struggle to open the day before and the entire system of what was operating seemed slow with wait times to be around 10 minutes. 

Tuesday, December 16, 2014

OK, What Has Been Going on with the Elevators Since 2009?

OK, What Has Been Going on with the Elevators Since 2009?

I know you have read my writings and heard me talk not just on this but many other topics.  You have experienced the elevators and other problems in the building thinking it is too much and many of you give up not acting.  The experience for many in the last couple of days has been greater decline in the elevators when I was told four were put back on a few days ago.

I laugh when I hear this since they eventually fail again.

The holidays are coming and many Unit Owners not living here full time are visiting.  Welcome and please let us know what you think.  Time to start writing and calling the various government agencies and all media outlets to let them know about every single problem with this building.

The entire file with all documents ever in possession of the Soho Central Condominium Corporation (SCCC) regarding the elevators needs to be copied and placed in at least one binder so all Unit Owners, legal “Members” of the SCCC, may read at least some of the history.  The papers from the developers/builder are another matter.


The mechanics and the awful restoration of the entrances of two elevators need to be fully fixed, functioning, safe and government inspected before any turning over to the condominium corporation.

Monday, December 15, 2014

Christmas Sale

Christmas Sale

Is this really a Christmas Sale?  Or, is something serious coming with some developers/builders getting the glut turned bubble units reserved by as many buyers as possible?  Yes, articles and talk out there continues as well as building and more building.

I had shown this flier to a broker/caretaker and the immediate comment was, what is going to happen with resell?  Yes, what will now happen with resell.  It is past the time when all Unit Owners needed to be much more concerned and involved with the building's maintenance and management.  Time to now get involved and learn about the history of the building and all documents from the beginning.  Resell will be tough and tougher when a building is in decline.

Let us pray the glut turned bubble does not see total collapse.

Wednesday, December 10, 2014

Should the pool be shut down?

Should the pool be shut down?

Yes, Unit Owners, we need to be realistic and look at the facts.  There have been many complaints about the high rates charged by the contractual services.  There have been no Annual Meetings or Special Meetings electing a Board.  While there was a quorum declared by those controlling the meeting in 2011, the meeting had voting procedures that violated the rules and law.  So Unit Owners have not had elected voices to control costs.

Again, Unit Owners are under law "Members" of the Soho Central Condominium Corporation.  Think of members as stockholders.  Your stock is tanking.

There are according to what has been stated approximately 100 units in arrears.  These delinquent Unit Owners then place the burden upon all others paying their bills.  I fully understand that some may be having financial difficulties, others may object to the continuing problems and the rest are not paying for no reason except to not pay what is owed.

For the first two, please announce clearly what the issue is for not paying.  Those not paying in protest, have you spoken to a lawyer or placed all money owed in a bank account showing some sort of good faith?  For those not paying for no good reason, why not sell your unit?

So I would think that a great expense to the condominium corporation is the pool.  Given the factors above, are there any other ideas?  I know of some but we need more voices.  The bank account should have had more money for future issues.

Tenants moving out

Tenants moving out

Yes, I have heard about and know tenants that have left since they are sick and tired of the deteriorating conditions of the building.  I have just been sent a text telling me of more tenants wanting to move due to serious elevator problems that have caused excessive inconvenience and being stuck inside an elevator.

Hello, Unit Owners, legal Members of the Soho Central Condominium Corporation, you are losing your investment.  I have been told some now want to sell but who will buy and at what price?

As for those of us who live in our unit as owners, what do we all need to do?  The newspapers are out there.  The various governments agencies are out there.  All aspects of this building need attention for audits and complete examination.

It is time to take action.

Who not just What accepted

Who not just What accepted


What is the list of systems or particular aspects of the building accepted at and after turnover?  What entity accepted?  Who and why were these accepted?  Are they working and fully operational or in good order?

So many questions never answered since turnover and so many items promised and never fully installed and functioning such as the elevators.


Tuesday, December 9, 2014

BIG Discounts from __________________!

BIG Discounts from __________________!

I have read a text a friend received that is not being advertised as far as to the public in general.  This well known developer/builder is offering a 45% discount on a well advertised building, 35% on another project in the business district, and 15% & 10% on two other well known projects but close to turnover and near completion, respectively.

Why the discounts?  Cash needed since all the developers/builders seem to have a pyramid type of construction scheme?  Or, is this also due to all the talk and writing on the bubble ready to burst seeking buyers to sign up quickly?

All buyers be very careful.  This same friend also has some primary basic rules on buying:  Never buy prebuilt; See 7-9 units before buying; and, Do not buy in any building with streets surrounding that flood.

MegaWorld

MegaWorld

I have posted about the condo industry in the Philippines and the warning signs of what we saw as a glut then bubble and now the talk about the bubble bursting and a crash.  Vietnam opening up their market is not good news for the Philippines especially if they have higher standards.  The article was posted not long ago here on the blog.

I was recently given this flier and wonder why the discount and special offers.  Is MegaWorld preparing for the bubble to burst and getting buyers quickly signed up?

Monday, December 8, 2014

Elevators Not Getting Better

Elevators Not Getting Better

A new development, Passenger Elevator 4 (PE4) which has problems had two buttons for the 29th and 17th floors taped not allowing for them to be pressed.  Here is a photo:


Now the 25th floor was taped yesterday.  Floor by floor, elevator by elevator this building is not headed towards fully functioning safe elevators.  Just think, this is just one of the problems.

We need to know what other systems were accepted or not accepted and if they are operating.  As a possible example, the intercom has been a problem since moving here.  Currently, the 21st floor intercom does not work.  Was this a system accepted?  If so, why?


Sunday, December 7, 2014

Elevators Spiraling Down

Elevators Spiraling Down

You will note in this previous post as others the serious situation residents face in the building with the elevators not being in a proper condition as to what was expected by buyers before turnover in 2009.

http://sohocentralcondominium.blogspot.com/2014/12/season-of-giving-and-receiving.html

This entire matter is disgusting and shame on all those responsible for the suffering imposed upon others.

I was going to write a couple of days ago and will do so now with updates.  To start with a new development, Passenger Elevator 4 (PE4) which was on then off manual is now minimally functioning without being on manual.  Twice when entered from the lobby I experienced the doors trying to close two times by themselves with the third time being successful followed by the loud & obnoxious ringing alarm when the elevators are kept open too long.  It does not feel safe.

That elevator now has two buttons for the 29th and 17th floors taped not allowing for them to be pressed.  Here is a photo:



IS THERE ANY HELP OUT THERE ANYWHERE?

The other day when I was going to write this message Passenger Elevator 2 (PE2) was working but there was a bumpy feeling going up. Other problems that day were the buttons not working and then working.  Each day brings a new experience.

Thursday, December 4, 2014

Study the Documents

Study the Documents

At this blog are links to the By-Laws, Master Deed, Corporate Code, Condominium Act, Presidential Decree 957, etc.  Who has read these?  Violations take place and few know since most do not read the documents.  Believe it or not they are not complicated.  If there are any questions, Members of the Soho Central Condominium Corporation may ask and seek answers.  I know many fear judicial decisions, but Valle Verde vs Africa was well written, clear and a valuable decision (tool) for all Unit Owners (Members).  I tell people to read them and even do it in groups taking notes.  I hear words and have heard the same words in the US, "I am not a lawyer so..."  The law was written for all the people no matter if it is ignored by other people, courts, or legislatures.  Read it, learn it and research asking questions to fully understand it.  I also fear a meeting that will have quorum having those knowing the rules and law leading others who are ignorant.

Meetings

Meetings

Here is just one section of the By-Laws. Yes, no "form" required but there are the required details for the proxy request. Notice, too, that the proxy does not need a day in advance as the posted memos state. Yes, question and read everything very carefully.  Notice under Voting that one vote per unit is written. That is illegal. I had to point that out to the Board in the past with a Board member from the developers saying they did not notice it. Terrific, Board members from the developer who do not read the docs they imposed upon the buyers. The Master Deed has the correct votes a Unit Owner is allowed since this is a mixed-use building. Oh, there was an attempt to amend the By-Laws for correction. Of course, as many other issues we and others noted for the building, no credit was ever given. But, the amendment had a zinger thrown in instead of just amending the specific item. We told everyone to vote NO in case there was a meeting with quorum. In reality, no amendment would be needed since the rule as written is illegal and cannot be applied. It was applied at the 2011 Annual Meeting as well as a compounding of illegal voting having those assembled give a voice vote in unison. No such vote is mentioned in law. How would one even know how many votes were cast as required under law. This is why the commercial seats are held by an illegal vote. But what does that matter since rules and law are just written on a piece of paper.  The other seats at that meeting had no vote since the Board walked out without adjournment to carry on the election in conflict with the Corporate Code.
 
 
 

Merry Christmas and Happy New Year Surprise

Merry Christmas and Happy New Year Surprise

For all those arriving and others coming soon, it is no joke. The Front Desk must be called to make sure an elevator arrives at your floor. The conditions are getting worse. There are two named developers, one named builder and the elevator company. Since foreigners may not engage in protest actions in the Philippines, when will Filipino citizens protest outside the companies' headquarters? When living in the building the day must be planned around the elevators.

Wednesday, December 3, 2014

SCCC Landline Phone Numbers

SCCC Landline Phone Numbers

For those needing to call to make a reservation for the elevator, see the Front Desk number below.

There was a memo dated July 15, 2014 that many Unit Owners may not have seen with the following local landline numbers.

Administration Office - (02) 650-0672

Accounting Department - (02) 584-7509

Engineering Department - (02) 584-9264

Security & Front Desk - (02) 584-9062

Tuesday, December 2, 2014

Quorum and for what?

Quorum and for what?

We must be careful to teach and then follow the rules and law when an elected Board is finally established. The By-Laws state:

Section 9. Quorum. The presence of members representing a majority of registered members who are not delinquent in their dues and assessments, whether represented in person or by proxy, shall be competent to decide on any matter or business that may be brought before the meeting, except in matters or cases in which the Corporation Code or the Condominium Act requires the affirmative vote of a greater proportion.


This is not necessarily true as written especially the last several words. Why? Notice in the post below I made in October that the Philippines Corporate Code makes no mention of those delinquent for approval of the management contract. Yes, that is a very serious issue coming up if the current management contract continues past January 1, 2015.

A vote for a management contract and period of management contracts up to five years

Was there a vote I am unaware of? How is it that a contract is longer than five years given the Philippine Corporate Code Title IV Section 44?

...No corporation shall conclude a management contract with another corporation unless such contract shall have been approved by the board of directors and by stockholders owning at least the majority of the outstanding capital stock, or by at least a majority of the members in the case of a non-stock corporation, of both the managing and the managed corporation, at a meeting duly called for the purpose ... No management contract shall be entered into for a period longer than five years for any one term. ...

http://www.chanrobles.com/legal5title4.htm#.VCyxso0cTmI

BATAS PAMBANSA BLG. 68
THE CORPORATION CODE OF THE PHILIPPINES
TITLE IV — POWERS OF CORPORATIONSSECTION 44. Power to enter into management contract. — No corporation shall conclude a management contract with another corporation unless such contract shall have been approved by the board of directors and by stockholders owning at least the majority of the outstanding capital stock, or by at least a majority of the members in the case of a non-stock corporation, of both the managing and the managed corporation, at a meeting duly called for the purpose: Provided, That (1) where a stockholder or stockholders representing the same interest of both the managing and the managed corporations own or control more than one-third (1/3) of the total outstanding capital stock entitled to vote of the managing corporation; or (2) where a majority of the members of the board of directors of the managing corporation also constitute a majority of the members of the board of directors of the managed corporation, then the management contract must be approved by the stockholders of the managed corporation owning at least two-thirds (2/3) of the total outstanding capital stock entitled to vote, or by at least two-thirds (2/3) of the members in the case of a non-stock corporation. No management contract shall be entered into for a period longer than five years for any one term.
The provisions of the next preceding paragraph shall apply to any contract whereby a corporation undertakes to manage or operate all or substantially all of the business of another corporation, whether such contracts are called service contracts, operating agreements or otherwise: Provided, however, That such service contracts or operating agreements which relate to the exploration, development, exploitation or utilization of natural resources may be entered into for such periods as may be provided by the pertinent laws or regulations. (n)
SECTION 45. Ultra vires acts of corporations. — No corporation under this Code shall possess or exercise any corporate powers except those conferred by this Code or by its articles of incorporation and except such as are necessary or incidental to the exercise of the powers so conferred. (n)

Voting for the seats on the Board

Voting for the seats on the Board

I cannot recall the exact words but similar words have been stated before at meetings and in conversation about the commercial areas having three seats they just get. It is true that the commercial areas have three seats they nominate for the Board. But, the entire assembly of Members vote for those candidates and other nominees for the Board.
 
It is important to know that the assembled Members do not have to vote YES but may vote NO to the nominees of the commercial seats. Why? Think of the lower dues they pay per square meter, noise in the area, the drain they were forced to build in the front, the desire to punch holes in the building to the commercial floors in Twin Oaks, sales reps annoying residents on Soho Central property, etc.  A YES vote is not required so please tell Unit Owners to be careful not to be lead down a path ignoring the other choice of NO. A YES vote deserves guarantees of issues fixed and problems avoided. A guarantee in writing.

Proxy problem

Proxy problem

The Special Meeting held this past Saturday was the first time I recall that the Secretary did not show up. I am no longer sure why there is not a new Secretary. I then looked to the By-Laws and do not know at this time if there are other rules or laws that would attempt to fix the dilemma those assembled would have found themselves.
 
There were proxies still expected; and if not already inspected, there would have been no Secretary as required under Section 8. Section 10 would designate the Chair as Secretary but the Chair had resigned. We are left with three Commercial and three Residential so who would they elect as Chair given the chilly relations? OH, do not forget the seat vacated cannot lawfully be filled due to Valle Verde vs Africa!!!
 
(just copied and pasted the following from a .pdf of By-Laws)

Section 8. Proxy. Any member or representative as defined in Section 4 hereof, may be represented by a proxy in all the meetings of the members of the corporation. The proxy must be in writing, designating the representative by name, signed by the member or the representative and duly presented to the Secretary for inspection and recording before the opening of the meeting.
Proxies shall be valid only either for the next annual or special meeting after the execution of the proxy or any adjournment thereof. The presence of the member at the meeting shall revoke the proxy heretofore executed by him and such member shall be entitled to vote at such meeting in the same manner and with the same effect as if he had not executed a proxy.


Section 10. Conduct of Meeting. At all meetings of the members, the Chairman of the Board, or in his absence, the President or, in the absence of the Chairman and the President, a person designated by the majority of the members present in person or by proxy, shall act as Chairman.
The Secretary of the Corporation shall act as Secretary of all meetings of the members and in his absence, the Assistant Secretary and if the Assistance Secretary is not present, the Chairman may appoint any person to act as such.

Season of Giving and Receiving

Season of Giving and Receiving

Soho Central Condominium certainly received and the gift of the elevators keeps on giving a major pain in Unit Owners' investment.

Review:

Passenger Elevator 1 (PE1) is on manual since PE4 was on manual but no longer functions.  I had seen PE4 after manual operation ceased open with no lights on at the 31st floor.

 
Passenger Elevator 2 (PE2) is functioning, whatever that means, as far as eventually arriving after pressing the buttons.  Of course, it may be packed since few run and your floor level may determine the number of passengers.  So the MRT Strategy needs to be employed or you may never see the ground floor.

Also notice that the 27th floor has tape not allowing it to be pressed.  We had just experienced stopping at the 27th floor due to someone on that floor pressing the down button.  As always, we had a new and unimproved witnessing of the elevator door trying to open and never succeeding.  It did not feel safe.


Passenger Elevator 3 (PE3) is not working.

Passenger Elevator 4 (PE4) was on manual but is no longer working.

Passenger Elevator 5 (PE5) is not working.  Well, take a look at its condition on the 41st floor where it is currently residing.



Service Elevator aka Passenger Elevator 6 (PE6) is working more as a passenger than service elevator and is less dependable than PE2 if such a thing is possible.  Please note the 21st floor button lights where only the up and not the down functions.

Also notice the tape covering the 32nd floor not allowing it to be pressed.


 
 
So not only the elevators but floor by floor the entire system is closing down.  It is time for everyone to complain as I had instructed or go to the gym and prepare for walking the stairs.
 
Does anyone know where the entities that built this building and the elevators are?  Are they happy with the result?  Is anyone else happy with the result?

Monday, December 1, 2014

Mirror, mirror in the elevators...

Mirror, mirror in the elevators...


...who wished us these?  Why do they not operate all the time?  Why were we promised a building with six residential elevators but suffer with few somewhat functioning?

It suddenly dawned that the name on the floor is not a company name at all.  No.  It was actually a warning just misspelled.

O tiĆ­s!