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Monthly Fees<\/h2>\n\n\n\n
As I mentioned before, we need to increase the monthly fee for all apartments to 4,000 per month starting March 1 for the following reasons:<\/p>\n\n\n\n
1. <\/strong>Prices for everything have gone up a lot in Bohol. Common area expenses such as common electricity, water, pool supplies have gone up. If we want to retain our staff we need to give them a salary increase. Richard the security guard has not had a salary increase in 4 years. Joy is paid less than Romielyn was when there were no guests during the pandemic. There are a lot of places hiring in Bohol and it’s getting more difficult to find reliable and experienced employees. We risk loosing our staff if we don’t pay them correctly.<\/p>\n<\/div>\n<\/div>\n\n\n\n 2<\/strong>. You can see from our monthly expenses<\/a> that our current balance is negative -255,808. This is in part because Apt 309 didn’t pay their monthly fee and utilities and she cannot be reached. This owner has moved out of the unit and I don’t have any hope of recovering this. So I have put this as a write-off of -37,369 in the December 2022 expense report<\/a>. Unfortunately this is what happens when someone doesn’t pay their bills, it will show up as a write-off and loss on our monthly budget. 3.<\/strong> Maintenance is coming up faster than expected. Things that should last longer already need to be replaced. This includes the water pump and pressure tank of building 2 that was replaced for 60K pesos in Aug 2022, or the gutters that have holes and need to be replaced in building 2+3 (now). Even the LED light bulbs seem to need replacement every few months.<\/p>\n\n\n\n So in summary if we want to keep our property maintained the way it should, and our employees working for us, then we all have to contribute a little. (BTW I am paying the monthly fee for 5 apartments so this hurts me the most). <\/p>\n\n\n\n <\/p>\n\n\n\n In order to protect the safety of Joy, increase security and prevent theft, starting immediately we don’t accept any cash payments over 5,000 pesos at the front desk. Please deposit your payments using any of the options we accept<\/a> including BPI transfer or Gcash. <\/p>\n\n\n\n <\/p>\n\n\n\n Now that the bad news is over, I would like to point that Bohol is well on it’s way back after three very bad years. All of our available apartments are booked and we still get more inquires. It’s clear that the tourism is finally coming back to Bohol. Those who are renting I’m sure you have noticed the increase. Hopefully for those who are selling we will soon see that come back as well. And for those who are just holding on to their apartment the value of your investment will increase nicely.<\/p>\n\n\n\n That means its also time to bring BJR up to the five-star level we all want. It means the gutters cannot be leaking, and the light bulbs need to be all working. The garbage area needs look better and the back and sides of the buildings needs to be improved. <\/p>\n\n\n\n Internet<\/strong>. Since we stopped giving free internet in October, there seems to be fewer complaints, especially the last 2 months. We also have 3,120 pesos in reserve to use for future equipment upgrades as of end of December. You can see all the Wi-Fi budget here<\/a>. Thank you to those who support our Wi-Fi internet plan. For those who don’t I remind that we offer unlimited high-speed internet to any apartment for 200 per week, 400 for 2 weeks, or 800 per month. I have also signed up for the StarLink internet that should be available later this year. It will provide unlimited 150 mbps internet, the price will be similar to what we pay now but I think it will be more reliable than PLDT. Next on the list is to put antennas in the back of the buildings. <\/p>\n\n\n\n Generator<\/strong>. In our last meetings we agree to sell the generator and buy a new one that is bigger and able to handle the entire resort including aircon. There is no rush for this as the generator we have is working now and and we need to secure the new generator before we get rid of the old one. That means before we sell our generator we first need to collect 15,000 pesos from each apartment so we can buy the new one at the same time the old one is removed. I will therefore handle this later when I am there in Bohol. I invite all owner to be prepared for the new generator expense this year so you are not surprised. <\/p>\n\n\n\n
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Follow up<\/h2>\n\n\n\n
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