Dear Fellow Owners, PLEASE SEE OUR COMMENTS IN CAPS AND IN BLUE ON IVA & CO’S NEWSLETTER IVA AND CO.’S RECENT NEWSLETTER REEKS OF DESPERATION AND LIES AND SUGGESTS THEY CANNOT GET THE RESORT FULLY OPEN AGAIN THIS YEAR OR PROVIDE PROPER RENTAL OPTIONS, AS PREVIOUSLY PROMISED. OWNERS WHO SIGNED UP TO THEIR SLAVE CONTRACT ARE BEGINNING TO SEE THE LIGHT AND ARE NOT PAYING THE HIGH MM FEES REQUIRED TO COVER THE COMMERCIAL PROPERTY OWNER’S OBLIGATIONS. SO WHAT DO THEY DO? THEY BLAME THE SRIOC FOR THEIR SHORTCOMINGS. IVA IS GETTING DESPERATE. BOYAN IS NOT PLAYING BALL. TO ENSURE OTHER OWNERS ARE CLEAR ON WHERE SRIOC MEMBERS STAND, WE WILL EXPLAIN AGAIN. YOU ALREADY KNOW THIS, IVA, AS ALL THIS WAS DISCUSSED WITH YOU AT THE MEETINGS SRIOC ORGANISED WITH YOURSELVES IN SEPTEMBER 2024 AND FEBRUARY 2025. IT WAS SRIOC WHO PRESSED RELENTLESSLY FOR THOSE MEETINGS. IT WAS SRIOC WHO TRAVELLED ON BOTH OCCASIONS. THE FEBRUARY 2025 MEETING ONLY TOOK PLACE IN SOFIA BECAUSE THERE WERE NO DIRECT FLIGHTS TO BURGAS. HAD THERE BEEN DIRECT FLIGHTS TO BURGAS, THAT MEETING TOO WOULD HAVE TAKEN PLACE ON YOUR PATCH WITH LITTLE OR NO EFFORT ON YOUR PART. YOU DIDN’T WANT THOSE MEETINGS BECAUSE YOU KNEW YOUR SLAVE CONTRACT WAS, AND STILL IS, A RED LINE FOR SRIOC AND THAT THE REFUSAL TO PROVIDE DIRECT CONNECTION WAS, AND STILL IS, A RED LINE ALSO. SRIOC MEMBERS HAVE ALWAYS BEEN WILLING, AND ARE STILL WILLING, TO PAY APPROPRIATE MANAGEMENT FEES. ARTICLE 51 WAS THE ONLY WAY TO PROTEST AGAINST THE LACK OF SPENDING OF OUR FEES ON THE RESORT AND THE REFUSAL TO PROCEED TO DIRECT CONNECTION. THERE WILL BE DIRECT CONNECTION IN PHASE 3 AT THE AQUA PARK ACROSS THE ROAD AND IN THE NEW COMPLEX BESIDE ETA. THE REASON FOR THE REFUSAL TO PUSH TOWARDS PROVIDING IT IN SUNSET IS THAT OWNERS WOULD THEN BE ABLE TO USE THEIR APARTMENTS, INCLUDING ALL-YEAR-ROUND, DESPITE HAVING TOTALLY UNRELATED ISSUES WITH THE MANAGEMENT COMPANY, ISSUES THAT WOULD THEN HAVE TO BE RESOLVED RESPECTFULLY AND WITHOUT THE THREAT OF BEING LEFT WITHOUT ELECTRICITY AND WATER. PLEASE SEE OUR COMMENTS BELOW ON THE LIES IN IVA & CO.’S RECENT NEWSLETTER. 1. On dialogue and co-operation Given the restriction of Regulation EU 2016/679, we have consistently stated that all owners, representatives, and experts are welcome to our office to review the documentation, ask questions, and discuss any topic related to the maintenance of the complex. YOU CONSISTENTLY UPDATE OWNERS BY NEWSLETTERS, SO WHY SHOULD OWNERS HAVE TO TAKE A FLIGHT TO BURGAS TO DO THAT? COME ON NOW, IVA. ALL REAL COMPANIES OPERATE IN THIS MANNER. YOU ARE NOT FOOLING ANYONE WITH THAT BULLSXXT. AT WHAT STAGE DID YOU HOLD OUT THE OLIVE BRANCH TO SRIOC AND ENCOURAGE THEM TO VISIT LAST SUMMER? DID YOU EXPECT US TO SIT IN OUR APARTMENTS IN THE DARK WHILE YOU CONTROLLED OUR UTILITIES? TO CLIMB UP THOSE FLIGHTS OF STAIRS BECAUSE YOU CONTROLLED THE LIFTS? YOU DIDN’T EVEN SUGGEST THAT PAYMENT, BY US, OF THE DAILY COMMUNAL FEES, WOULD HAVE BEEN SUFFICIENT FOR YOU TO FLICK A SWITCH AND PROVIDE SRIOC WITH THE INCENTIVE TO TRAVEL OVER TO REVIEW, TO ASK AND TO DISCUSS. THAT’S BECAUSE YOU WANT NOTHING LESS THAN SUBMISSION AND FOR EVERYONE TO SIGN YOUR SLAVE CONTRACT. YOU NEVER WANTED THOSE MEETINGS IN SEPT. 2024 AND FEB. 2025 AND YOU STILL DON’T WANT ANY NOW. Fact: No representative of the SRIOC group has ever requested a meeting, access to documents, or joint working discussions with SR Property Management. PURE LIES. YOU WERE DRAGGED KICKING AND SCREAMING TO THOSE TWO MEETINGS. HAVE YOU SUGGESTED FURTHER MEETINGS? IF SO, WHERE IN YOUR NEWSLETTERS, OR OTHERWISE, DID YOU SUGGEST THEM? SHOW US THE MONEY, IVA!!!!!!! OWNERS CAN CHECK www.srioc.com TO SEE OUR MANY NEWSLETTERS REQUESTING MEETINGS. SRIOC PROVIDED A BUDGET FROM A PROFESSIONAL MANAGEMENT AGENT WHO HAS THE EXPERIENCE OF MANAGING RESORTS, WHICH IVA & CO. SADLY LACK. ANY SUCH PROFESSIONAL MANAGEMENT AGENTS WILL NEVER BE ACCEPTABLE TO IVA & CO. AS THEY HAVE A DIFFERENT AGENDA, AND THAT IS CONTROL, BY THEM, OF SUNSET. At the same time, SRIOC has chosen to communicate exclusively through public emails to owners, while claiming to be “open to constructive dialogue”. We leave it to each owner to judge whether this approach reflects a genuine willingness for cooperation. WE THINK YOU’VE ALREADY HAD YOUR ANSWER FROM OUR MEMBERS. 2. Individual electricity and water connections – the legal reality No one disputes the owners’ right to individual utility connections. What is often omitted is that such connections must follow a strict legal and technical procedure under the Bulgarian law. Since November 2024, we have:
At present, we are working on:
These will be presented to owners so that the majority can make an informed decision, knowing the actual costs and implications. A reasonable question remains: Is anyone prepared to commit to such a procedure without knowing its price? If SRIOC were genuinely concerned about this issue, their representatives could have proposed experts long ago and worked jointly with us on cost estimates that comply with the Bulgarian law. This has not happened. HOW WILL THE PRICE BE DETERMINED, IVA, WITHOUT GETTING THE PLANS/SPECIFICATIONS FOR THE BUILDINGS? AS FAR BACK AS THE SEPT. 2024 MEETING IN PENELOPE HOTEL, SRIOC SUGGESTED A TINY CONTRIBUTION OF €100 PER OWNER TO GET THE BALL ROLLING BUT YOU REFUSED. THOSE PLANS WOULD HAVE BEEN IN OUR POSSESSION AGES AGO, BUT IVA SAID NO!!!! WHY? BECAUSE, DESPITE WHAT SHE CLAIMS, IVA DOESN’T WANT DIRECT CONNECTION BECAUSE THAT’S WHERE THE STRANGLEHOLD EXISTS. 3. Selective trust in statements by Mr. Boyan Bonev SRIOC cites statements that Mr. Boyan Bonev has made regarding the share of the total electricity consumption (85%) of the common areas, as a denial of our figures from our previous newsletter, regarding the utility consumption of the common areas (77%). SRIOC STATED THAT BOYAN BONEV CLAIMED 85% OF THE TOTAL ELECTRICITY COSTS, IVA, (NOT 85% OF THE COMMON AREAS!!!!) WAS DUE TO AN OLD AND INEFFICIENT AIR-CONDITIONING SYSTEM. HE CLAIMS NEWER UNITS ON THE MARKET NOWADAYS ARE 4 TIMES MORE EFFICIENT. THE VAST BULK OF AIR-CONDITIONING COSTS ARE INCURRED, NOT IN THE COMMON AREAS BUT, WITHIN THE 914 APARTMENTS AND THE MANY COMMERCIAL PROPERTIES IN SUNSET. SO, AN OWNER WHO IS ECONOMICAL WITH HIS/HER USAGE, IS FORCED TO CONTRIBUTE, THROUGH THE NOSE, FOR THE TENS OF THOUSANDS OF OVERNIGHT STAYS BY TOURISTS RENTING OTHER APARTMENTS. AIR-CONDITIONING IS LEFT ON ALL DAY LONG WHILE THE OCCUPANTS SIT DOWN AT THE POOL OR HEAD OUT TO POMORIE FOR THE NIGHT. DIRECT CONNECTION WOULD ENSURE THAT THE CAREFUL OWNER DOES NOT PAY FOR THIS MIS-USE WHILE ALSO ALLOWING HIM/HER ALL YEAR ROUND USAGE (OR RENTAL) OF HIS/HER APARTMENT. At the same time, in other communications of theirs, Mr. Bonev was described as an unreliable or manipulative source of information. MORE LIES!!! WE NEVER USED THOSE WORDS. BOYAN BONEV KNOWS EXACTLY WHAT WE THINK OF HIM AS WE HAVE TOLD HIM MANY TIMES, FACE-TO-FACE, AND, UNLIKE LIKE YOU AND BOYAN, WE DON’T NEED TO GET BACK UP FROM OTHERS TO FIGHT OUR CORNER. WE NOTE WITH INTEREST THAT BOYAN HAS NOT ONCE COME OUT TO SAY HE HAS DONE A DEAL WITH YOU. THE ONLY AGREEMENT WAS THE RENTING OF THE SWIMMING POOLS TO YOU FOR €360,000 PLUS FREE M&M FEES OF €752,000!!! BUT NOTHING IN WRITING, AND HE ALSO SAYS HE IS DELIGHTED THAT IVA & CO. ARE VERY KIND IN SORTING OUT ALL OF HIS BILLS. HE HAS ALSO TOLD US THAT HE HAS NOT SIGNED YOUR SLAVE CONTRACT AND HE RANG TO ADVISE US NOT TO SIGN THE CONTRACT EITHER. HE SAID JUST PAY THE M&M FEES IF WE WANT TO USE OUR APARTMENTS. WE GUESS HE JUST WANTED HIS RENTAL MONEY FOR HIS SWIMMING POOLS. HE STATED THERE WILL BE A NEW MANAGEMENT COMPANY SOON. ASK HIM IF YOU DON’T BELIEVE US. This raises a simple question: Is for the SRIOC Mr. Bonev a credible source of information, or not? THAT DEPENDS ON WHAT HE IS SAYING AT A GIVEN TIME. IF ANY PERSON LIES OR MISLEADS ON ONE OCCASION, DOES THAT MEAN HE/SHE LIES OR MISLEADS ON EVERY OCCASION? IF YOU TELL A LIE ONCE, IVA, DOES THAT MAKE YOU A LIAR ALWAYS? YOU LIED WHEN YOU CLAIMED IN YOUR NEWSLETTER “Fact: No representative of the SRIOC group has ever requested a meeting……” DOES THAT LIE CONSIGN YOU TO BEING A LIAR FOR LIFE? SURELY THAT WOULD APPLY TO YOU TOO, IVA, EVERY BIT AS MUCH AS TO BOYAN BONEV AND EVEN TO THE AUTHOR(S) OF THIS NEWSLETTER, WOULD IT NOT? SERIOUSLY?? HAVE YOU HAD A KNOCK ON YOUR HEAD? READ OUR NEWSLETTERS, READ YOUR OWN NEWSLETTERS. IT IS WELL DOCUMENTED WHO REQUESTED THE TWO MEETINGS, SRIOC AND NO ONE ELSE. ASK MARTIN BERHAN AND GER TEEFY WHO RANG THEM AND RANG YOU, IVA, REQUESTING THOSE MEETINGS. SO PLEASE, DON’T TELL LIES. OWNERS CAN NOW SEE THAT SOMETHING LIKE THIS, THAT WAS SO WELL PUBLICISED, IS TRUE. IT BEGS THE QUESTION – IS ANYTHING YOU SAY TRUE AND CAN YOU BE TRUSTED? ALL OUR NEWSLETTERS ARE ON OUR WEBSITE www.srioc.com THIS PROVES WHO IS TRUTHFUL AND WHO IS NOT. 4. Daily communal fees – facts and basic mathematics The M&M contract clearly states (art. 6.2) that until individual meters have been installed, daily communal fees apply: 10 BGN, 12 BGN, 14 BGN (depending on apartment type). This is indisputable proof that individual connections are on our priority list. INDISPUTABLE PROOF? PRIORITY LIST? HOW SO? PLEASE ELABORATE, IVA. For the 2025 season:
This is fully consistent with the contract terms and requires no interpretation, only arithmetic. AS HAS BEEN PROVEN IN THE PAST, YOUR ARITHMETIC HAS LEFT MUCH TO BE DESIRED IN YOUR BUDGET, IVA. EVEN A CHILD COULD ARRIVE AT 11.01 BGN BY DIVIDING THE FEES COLLECTED BY THE NUMBER OF OVERNIGHT STAYS. BUT 4,966 DOESN’T TELL THE FULL STORY, DOES IT? IT DOESN’T TELL HOW MANY STUDIOS, 1-BEDS, ETC. YOU PROMISED TRANSPARENCY. 5. Swimming pools, services, and rental opportunities It has always been evident that:
A basic reality applies to all: Apartments cannot be rented successfully without pools, services, and maintained infrastructure. Today, this is even more important, especially for owners who cannot often travel and depend on rental income to help with their living expenses or pensions. A reasonable question follows: How can maintained infrastructure and services exist without financing? Any practical, financially viable proposal on how to operate infrastructure without payment of maintenance fees is welcome. To date, none has been presented by SRIOC. OWNERS ARE UNDER NO OBLIGATION TO RENT OUT THEIR APARTMENTS NOR TO USE SWIMMING POOLS THAT DO NOT BELONG TO THE CONDOMINIUM AND SUBSEQUENTLY COME AT TOO HEFTY A PRICE. THE FORMER IS A PERSONAL DECISION AND THE COURTS HAVE ALREADY RULED ON THE LATTER. OWNERS WHO CHOOSE NOT TO USE THE POOLS CANNOT BE FORCED TO PAY FOR THE ENJOYMENT OF THOSE WHO DO. SIMPLY INCREASE THE DAILY COMMUNAL FEES OF APARTMENTS WHOSE OWNERS CHOOSE TO USE THE SWIMMING POOLS – PROBLEM SOLVED. IF THAT’S BEYOND YOUR CAPABILITIES, THEN STAND ASIDE AND LET AN EXPERIENCED MANAGEMENT AGENT TAKE OVER AND GET THE SHOW BACK ON THE ROAD FOR THE BENEFIT OF ALL OWNERS. SRIOC HAVE LONG SINCE SUBMITTED A PROPOSAL FROM RESORT STYLE LIMITED. YOU IGNORED IT, IVA. THAT PROPOSAL BUDGETED FAR MORE THAN THE €2psm THAT YOU PROPOSE TO SPEND ON THE PROPERTIES WE ACTUALLY OWN. 6. Protection of owners’ interests – results versus intentions It is also fair to ask how SRIOC has protected the interests of the owners, who wish to rent out their apartments. Rental companies have always been different legal entities from the Condominium.
SRIOC IS NOT A RENTAL COMPANY AND IS IN NO WAY RESPONSIBLE FOR OWNERS RENTING THEIR APARTMENTS. SRIOC ADVOCATES FOR OWNERS’ LEGAL PROPERTY RIGHTS. SO NOW THAT YOU CAN’T OFFER OWNERS WHAT YOU PROMISED THEM LAST YEAR (IF THEY SIGNED UP WITH YOU), YOU ARE TAKING CHEAP SHOTS BLAMING US FOR YOUR SHORTCOMINGS. WE LOOK FORWARD TO YOU PROVING US WRONG. WE TOLD YOU THIS WOULD HAPPEN, BUT YOU WOULDN’T LISTEN. IVA, WHY DON’T YOU NEGOTIATE WITH THE OWNER OF THE COMPLEX, ON WHOSE PROPERTY YOU PROPOSE TO SPEND €19 OF THE €22psm YOU INTEND TO CHARGE PLUS 70% OF THE €1psm SINKING FUND. NEGOTIATE A BETTER DEAL THAT DOESN’T PAY HIM €360,000 PER YEAR AS WELL AS LOADING HIS €752,000 M&M FEES ONTO THE RESIDENTIAL OWNERS. THAT WOULD ALSO LAY DOWN A MARKER THAT HE AND HIS LEISURE COMPLEX ARE NOT INDESPENSIBLE. YOU HAVE JUST ANNOUNCED, AND NOT FOR THE FIRST TIME, THAT, IN YOUR PLAN, HE IS INDESPENSIBLE. THAT’S A HELLUVA NEGOTIATING STRATEGY, IVA!!!!! LET’S SHOW HIM THAT HE IS NOT INDESPENSIBLE AND THAT THE GAME IS FINALLY UP. OPEN SUNSET WITHOUT HIS SWIMMING POOLS. CHARGE M&M FEES OF €2psm, SINCE YOU RECKON THAT’S SUFFICIENT FOR THE MANAGEMENT AND MAINTENANCE OF OUR BUILDINGS. THE SAVING OF €19psm WILL ALLOW OWNERS TO RENT THEIR APARTMENTS MORE CHEAPLY WHILE PROMOTING THE FACT THEY ARE FRONTLINE PROPERTIES ON THE BEAUTIFUL BIG BLACK SEA – NO NEED FOR SWIMMING POOLS. INSTEAD OF POCKETING €360,000 PER YEAR, BOYAN BONEV WILL INSTEAD HAVE TO COUGH UP THE M&M FEES FOR HIS THOUSANDS OF SQ. METRES OF RESIDENTIAL AND COMMERCIAL PROPERTIES. SO ALSO WILL YOUR SUPPORTERS AND SO ALSO WILL SRIOC’S SUPPORTERS. WE CAN STILL ENJOY OUR FRONTLINE PROPERTIES, SWIM IN THE SEA AND DINE OUT IN POMORIE. A YEAR OR TWO OF ZERO RETURN FOR HIS SWIMMING POOLS (WHILE COUGHING UP HIS M&M OBLIGATIONS) WILL SOON SOFTEN HIS COUGH AND LEAD TO A FAIR AND REASONABLE DEAL GOING FORWARD FOR HIS POOLS. THEN ALL OWNERS WOULD COME ON BOARD. AN ADDED BONUS IN THE INTERIM WOULD BE THE SPENDING OF 100% OF THE SINKING FUND FEES (NOT JUST 30%) ONLY ON OUR BUILDINGS, AND GOD KNOWS THEY COULD DO WITH IT. WHAT SRIOC STANDS FOR AND OUR RED LINES: · DIRECT CONNECTION – NO MORE BLACKMAIL!!!!! · M&M FEES CALCULATED TO COVER THE COMMON AREAS WITHIN THE BUILDINGS WHICH ARE OUR RESPONSIBILITY UNDER THE LAW – NOT FOR SWIMMING POOLS. IVA & CO.’s BUDGET SETS THAT @ €2psm. HAPPY DAYS!!! · SEPARATE, ADDITIONAL FEES FOR OWNERS WHO WISH TO ENJOY THE OPTIONAL EXTRAS OF THE SWIMMING POOLS. · NO MANAGEMENT CONTRACT IN ITS PRESENT FORMAT. · M&M FEES AND REPAIR & RENOVATION FEES (SINKING FUND) TO BE SPENT ON THE BUILDING FROM WHICH THEY ARE COLLECTED. · ALL COMMERCIAL PROPERTY M&M FEES TO BE COLLECTED WHETHER OR NOT THEY ARE BEING USED. · ALL OWNERS TO BE TREATED EQUALLY AND WITH RESPECT. FINALLY, OUR DOOR IS ALWAYS OPEN FOR PROPER, RESPECTFUL DIALOGUE |
