Management Contract

Management Contract

I was surprisingly given a copy and have a better idea as to what the terms are and information given to have an understanding of who controls what. This is not good what has taken place with the managing of the building given what I have read.

Time to Read and Understand all the Contracts

In fact, time to have all critical records open for immediate inspection in binders as I had called for in past posts.

Here is the first of two paragraphs from Section 21 of the contract with the management company. Good questions arise out of reading this section. Why is the Residential Areas Committee not managing and controlling the residential areas of Soho Central as required in the Master Deed? What is stopping them?


"SERVICE AGREEMENT"

"ARTICLE 21: APPOINTMENT OF REPRESENTATIVES AND NOTICES"

"The SERVICE PROVIDER acknowledges that it has read the PRINCIPAL's Master Deed with Declaration of Restrictions and understands the provisions thereof particularly the provisions of Section 10 and its subsections, in Part I of the said Master Deed with Declaration of Restrictions; that Section 10-C grants irrevocable powers to the Residential Areas Committee to manage and control the residential areas of SOHO CENTRAL, that the common areas of SOHO CENTRAL comprise the residential areas. Accordingly therefore, the Residential Areas Committee members, acting individually or acting as a group, are authorized to communicate with, review, correct, suggest, recommend, question, request reports or perform any management and control function with and over the staff of the SERVICE PROVIDER."

The following is from the Master Deed for Soho Central:

"Section 10-C - In the same manner, the management and control of the Residential Areas and all common areas found within the Residential Areas (including without limitation, the promulgation of rules and regulations governing the use of the Units and common areas found within the Residential Areas, and the fixing of rates of association dues and other damages for the use and maintenance of the common areas found within the Residential Areas) are hereby irrevocably vested in a committee (the "Residential Areas Committee") composed of three (3) members of the Board, to be appointed by the Board; provided that at least two (2) members of the Residential Areas Committee shall be nominees of the owners of units within the Residential Areas. All issues relating solely to the management and control of the Residential Areas and the common areas found within the Residential Areas shall be resolved exclusively by the Residential Areas Committee."

***

Here is a link to a post on Tasks mentioning binders and copies for access - http://sohocentralcondominium.blogspot.com/2016/03/tasks.html

No Quorum Predicted for such short notice

No Quorum Predicted for such short notice

You may Ignore the Special Meeting in March now announced by the Commercial Podium Areas representative director.

Please remember that there is an Annual Meeting (called a "regular meeting" in law) in August as by the By-Laws due to such an annual meeting required in law. That meeting in August will also have an election for the Board of Directors. It is always the last Friday in August unless a legal holiday which would then have it moved to the following business day.

The meeting in March is a waste of resources, money, time and effort for the very small number of Unit Owners who would attend.

Oh, I consider their proxies to have excessive information and rights given away. Do not use it.

Payments to Soho Central Condominium Corporation (SCCC)

Payments to Soho Central Condominium Corporation (SCCC)

I know many have seen the notice with the threat against Unit Owners paying to the BPI account and insult of the BPI account. But there are two other accounts with one being at Union Bank. I know many would be worried as to what account to pay to for their unit(s). This issue is still being discussed and debated behind the scenes. For the time being, I would suggest depositing to the Union Bank account for those concerned & worried. It is not frozen for deposits only withdrawals.

Here is a post I had made with the BPI account number and SWIFT code information - http://sohocentralcondominium.blogspot.com/2016/12/caution-discounts-are-only-for-payments.html 

Does anyone have such information for the Union Bank account?

Please do not make payment deposits to RCBC. Do not make payments in the admin office since they will deposit it to the RCBC account.  I would encourage making payments at either Union Bank for those worried or BPI for those wanting to support the Residential Areas of the building.

The records ... shall be open to inspection

It seems that this is forgotten in the building as so much else...

The records ... shall be open to inspection

Philippine Corporate Code Title VIII Section 74:

The records of all business transactions of the corporation and the minutes of any meetings shall be open to inspection by any director, trustee, stockholder or member of the corporation at reasonable hours on business days and he may demand, writing, for a copy of excerpts from said records or minutes, at his expense.


http://www.chanrobles.com/legal5title8.htm#.UvS33zZWHmI

TITLE VIII

CORPORATE BOOKS AND RECORDS Sec. 74. Books to be kept; stock transfer agent. - Every corporation shall keep and carefully preserve at its principal office a record of all business transactions and minutes of all meetings of stockholders or members, or of the board of directors or trustees, in which shall be set forth in detail the time and place of holding the meeting, how authorized, the notice given, whether the meeting was regular or special, if special its object, those present and absent, and every act done or ordered done at the meeting. Upon the demand of any director, trustee, stockholder or member, the time when any director, trustee, stockholder or member entered or left the meeting must be noted in the minutes; and on a similar demand, the yeas and nays must be taken on any motion or proposition, and a record thereof carefully made. The protest of any director, trustee, stockholder or member on any action or proposed action must be recorded in full on his demand. The records of all business transactions of the corporation and the minutes of any meetings shall be open to inspection by any director, trustee, stockholder or member of the corporation at reasonable hours on business days and he may demand, writing, for a copy of excerpts from said records or minutes, at his expense.

Any officer or agent of the corporation who shall refuse to allow any director, trustees, stockholder or member of the corporation to examine and copy excerpts from its records or minutes, in accordance with the provisions of this Code, shall be liable to such director, trustee, stockholder or member for damages, and in addition, shall be guilty of an offense which shall be punishable under Section 144 of this Code: Provided, That if such refusal is made pursuant to a resolution or order of the board of directors or trustees, the liability under this section for such action shall be imposed upon the directors or trustees who voted for such refusal: and Provided, further, That it shall be a defense to any action under this section that the person demanding to examine and copy excerpts from the corporation's records and minutes has improperly used any information secured through any prior examination of the records or minutes of such corporation or of any other corporation, or was not acting in good faith or for a legitimate purpose in making his demand.

Stock corporations must also keep a book to be known as the "stock and transfer book", in which must be kept a record of all stocks in the names of the stockholders alphabetically arranged; the installments paid and unpaid on all stock for which subscription has been made, and the date of payment of any installment; a statement of every alienation, sale or transfer of stock made, the date thereof, and by and to whom made; and such other entries as the by-laws may prescribe. The stock and transfer book shall be kept in the principal office of the corporation or in the office of its stock transfer agent and shall be open for inspection by any director or stockholder of the corporation atreasonable hours on business days.
 

No stock transfer agent or one engaged principally in the business of registering transfers of stocks in behalf of a stock corporation shall be allowed to operate in the Philippines unless he secures a license from the Securities and Exchange Commission and pays a fee as may be fixed by the Commission, which shall be renewable annually: Provided, That a stock corporation is not precluded from performing or making transfer of its own stocks, in which case all the rules and regulations imposed on stock transfer agents, except the payment of a license fee herein provided, shall be applicable. (51a and 32a; B. P. No. 268.)

Unknown work on Shaw Tower via Mayflower Tower

Unknown work on Shaw Tower via Mayflower Tower

If you look at the top, will notice a green tarp. What work is being conducted since everything in Soho Central is a secret or for privileged eyes & ears only? Who is paying? And how much?

Air Conditioner Cleaning

SPREAD THE WORD ONCE AGAIN. GOING CHEAP WITH THE BUILDING MANAGEMENT COMPANY, I WOULD NOT RECOMMEND. A WINDOW TYPE IS JUST 500 PESOS FOR CLEANING.

Air Conditioner Cleaning

(original web post 02/16/13):  This is just one of many things you will learn when the pros are not contacted in favor of non-professionals.

We had also learned that the split-type and window types need cleaning every 6 months if there is heavy use. You will be shocked at how dirty they get when looking at the water. We had also gotten an air purifier and can only imagine how dirty the air conditioners would have been without the air purifier.

Several people we have heard in our building had leaks since they never cleaned their air conditioners since we were never told what to do.

The Carrier authorized dealer who had told us about the installation problems:
Tristar Service Center Inc.
No. 32 Mayon Street, Bgy Malamig, Mandaluyong, Metro Manila
532-1353
532-3564
531-7562 (fax)
0920-9215091 (cell)
0922-8898233 (cell) tristar@surfshop.net.ph


I have known those in the building having non-air conditioning specialists clean their units with problems afterwards. This service is trained to do the job. Just make sure they bring the bag for the split-type to keep the wall clean.