Exmouth Quay Management Company business

This section is concerned with the dealings between the residents and the Management Company, a primary activity of the Association. The contractual covenants at the time of purchase include the responsibilities of owners to the Management Company and those of the Management Company to the residents.  Many of these covenants form the basis of the regulations issued by the Management Company as guidelines to owners and tenants; a copy of the current regulations is shown in the Community Matters sub-page of this website. It is largely a personal responsibility on the part of all residents to observe these rules as a courtesy to others.

Otherwise, the Management Company is responsible for long term and short term maintenance of the estate, for communal services and for certain repairs. Whilst all owners relate personally to the Management Company, the Residents' Association was created originally to provide a forum for residents to discuss matters of common interest and to provide another channel of communication with the Management Company. The sub-pages here separate these main issues for ease of reference.

   
           Protecting the Quay's long term funds (July 2009)

The Quay’s long-term capital reserves may soon be switched from a bank’s high interest savings account to an investment system using index-linked gilts and low cost tracker funds.. The aim of a working group has been to preserve the purchasing power of the fund, which was set up by the Management Company against the liability to maintain the bridge, sea and dock walls and walkways Most of this serious work is unlikely to be necessary for 30 to 60 years and there was concern that money in a savings account could be ravaged by inflation. Meetings have taken place between the Residents’ Association’s finance group and the Management Company to find the best, most reasonably priced operating procedure. It is the intention to use an Independent Financial Advisor to recommend the allocation of the fund’s assets and two advisors have already presented. The Management Company builds up the fund by levying a charge on each property, currently £140 per year, and it has already risen to nearly a quarter of a million pounds. The framework for the investment switch was drawn up initially between residents’ association representatives Martin Luce, Paul Stanbridge and Ian Dowell and Management Company administrator Chris Fayers. At this meeting, Mr Fayers said he would like to establish an Investment Committee to oversee the management of the fund, and this would include representatives from the Quay Residents’ Association. He also said he would consider an EQRA officer being a signatory where the Management Company needed to withdraw cash to undertake work of a long-term nature, although given the purpose of the fund, this should be a very rare occurrence.