** New address for AM Estate Mgt Upper Pembroke Street, Dublin 2

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1 Ellis Quay Dublin 7 ** New address for AM Estate Mgt Upper Pembroke Street, Dublin 2 27 th November 2015 Clifden Court Service Charge 2016 Dear Member, Please find enclosed your 2016 service charge invoice for your property at Clifden Court. This is the earliest period in which we have ever issued the yearly service charges. This is due to the fact that our AGM took place in November and not December as in previous years. The Annual General Meeting/Budget Meeting took place on the 3 rd November 2015 in the Ashling Hotel. The attached budget was approved by all attending members and Directors in line with the requirements of the MUD Act, the annual service charge budget and the annual Building Investment Fund (Sinking Fund) contribution must be presented to members for approval at the Annual General Meeting. In this pack you will find the following: 1. Service Charge Invoice Invoice for 2016 and your statement showing the total outstanding balance Budget Detailing the projected expenditure for the year on which your invoice is based. 3. Payment Options Your options to pay the 2016 service charge. 4. Standing Order Form A copy of this must be returned to AM Estate Management if you wish to pay by standing order. 5. Emergency Contact details All members must ensure that AM Estate Management has an updated contact details sheet which is used to contact owners in the case of an emergency. 6. House Rules If you have tenants, please ensure they have a copy of these House Rules. Managing Agent: Property Manager: Adrian Muldoon: Ph: / Upper Pembroke Street, adrian@amestatemanagement.com Dublin 2 Complex Manager: Paul Payne: (on site) New Address hr Emergency Number: Directors: Con O Mahony, Kevin Barry, Darragh Delany, Linda Condon, Dympna Conlon Clifden Court Management Company Ltd. is registered in Ireland with registered number: Registered Office: Clifden Court, Ellis Quay, Dublin 7

2 Ellis Quay Dublin 7 Refurbishment works in your apartment I have listed below, just like last year information/advice with regards to fire safety, gas boilers, ventilation issues etc.. However I would like to outline a number of issues which all owners will face in the upcoming years due to the age of the building. New Windows & Balcony Doors When replacing any windows & balcony doors in the development you must ensure that your new windows or doors remain the same (Aesthetics wise) i.e. you can t change the design from the current window or door format that is currently installed in your apartment. Many residents have already started to install new PVC windows. This project can be carried out internally i.e. no need for scaffolding/cherry/pickers. Members who are in block E (Listed side of the building) must ensure they keep the same wooden design. As per members lease agreement with Clifden Court Management Company, any members who change the overall aesthetic look of their newly installed window i.e. a different look/design will be asked to remove these windows. Unfortunately this already occurred in 2015 which resulted in a great expense for this member in question. Gas Boilers I mention every year the need to ensure your gas boiler is serviced every year. However the original gas boiler installed by the developer was a fire place back gas boiler, unfortunately this type of boiler is no longer manufactured and many members have also informed me that it is very hard to get parts to repair these boilers. The boilers are over 20 years old, which means they should be replaced anyway as they do not adhere to current regulations. The only options to members is to get a wall mounted boiler installed in their apartment. Managing Agent: Property Manager: Adrian Muldoon: Ph: / Upper Pembroke Street, adrian@amestatemanagement.com Dublin 2 Complex Manager: Paul Payne: (on site) New Address hr Emergency Number: Directors: Con O Mahony, Kevin Barry, Darragh Delany, Linda Condon, Dympna Conlon Clifden Court Management Company Ltd. is registered in Ireland with registered number: Registered Office: Clifden Court, Ellis Quay, Dublin 7

3 Ellis Quay Dublin 7 This will involve the following: Removal of the current back boiler. A new wall mounted boiler which will need to be installed more than likely on your living room wall (Your gas boiler will make this decision based on regulations) Aesthetically wise (Especially for 1 bedroom apartments) this is not a great option, however it appears to be the only option. When the gas boiler is installed, many members have installed a wooden closet unit around the boiler to improve the overall aesthetic look i.e. hide the boiler A gas flue needs to be installed on the outside wall in order to adhere to current regulations. Currently your gas flue is located on the roof of the building. This will involve coring a hole in the external wall of the building. I would like to remind all residents that this outside wall belongs to the management company so extra attention needs to be paid during this process. Your plumbing company need s to ensure when they are coring this external hole, that all health & safety requirements are carried out. I.e. should some debris fall from a height during this process it could cause serious injuries to residents below. Your plumber should be engaging professional coring companies to carry out this process. Some gas companies will inform you that they can carry out this procedure themselves, I would urge caution for all members with regards to this part of the project. Managing Agent: Property Manager: Adrian Muldoon: Ph: / Upper Pembroke Street, adrian@amestatemanagement.com Dublin 2 Complex Manager: Paul Payne: (on site) New Address hr Emergency Number: Directors: Con O Mahony, Kevin Barry, Darragh Delany, Linda Condon, Dympna Conlon Clifden Court Management Company Ltd. is registered in Ireland with registered number: Registered Office: Clifden Court, Ellis Quay, Dublin 7

4 Ellis Quay Dublin 7 Already in 2015 a number of plumbing companies have damaged the external common area wall. I would urge all members to contact me if they have any questions with regards to this process. Contractors When members are carrying out works in their apartments i.e. Painting/New flooring/new bathrooms/gas Boilers etc.. We would ask all members to ensure the following: Your contractor places dust sheets down outside your apartment to ensure the common area is not affected. No waste from these projects are to be dumped in the car park or the common area bins. Your contractor must remove all debris from the development. If your contractor is looking to bring equipment/supplies into the development, he/she can use the service gate which is located beside the car park gate. Should you require a key for this gate, please do not hesitate to contact me. Please note we have no visitor spaces in the car park. If a member does not have a car space his/her contractor must park outside the complex. If your contractor leaves the common area dirty, a cleaning charge will be placed on your account. I would urge all members who are getting major works carried out to contact me directly before these works commence. Payment Arrangements Payment arrangements remain the same even though the service charges have been issued earlier than usual. The service charges are owners collective contribution towards the maintenance of the common areas and services, and failure to collect the service charges would lead to a deterioration of the building and services. For this reason and in the interests of fairness to all owners, the management company pursues all debts vigorously. AM Estate Management facilitates flexible payment arrangements, so please contact us if you wish to discuss the options. We are flexible on the payment methods, but not on the amount to be paid. Over 80% Managing Agent: Property Manager: Adrian Muldoon: Ph: / Upper Pembroke Street, adrian@amestatemanagement.com Dublin 2 Complex Manager: Paul Payne: (on site) New Address hr Emergency Number: Directors: Con O Mahony, Kevin Barry, Darragh Delany, Linda Condon, Dympna Conlon Clifden Court Management Company Ltd. is registered in Ireland with registered number: Registered Office: Clifden Court, Ellis Quay, Dublin 7

5 Ellis Quay Dublin 7 of owners pay the service charges on time, and we have been very successful in the past in ensuring that every owner pays their contribution. Your Management Company s Governance-Board of Directors The current members of the Board of Directors and Committee of Clifden Court Management Company are as follows: Linda Condon Kevin Barry Con O Mahony Dympna Conlon Darragh Delaney The board of Clifden Court Management Company and AM Estate Mgt meet frequently and discuss through s issues affecting the development. Should any members have issues of concern that they would like raised with the board we would suggest that they are put in writing and sent to our office or ed to adrian@amestatemanagement.com or directly to the board at info@clifdencourt.com Fire Safety Advice In your development we have contracts in place for the following items: Fire Alarms-Checked quarterly by Total Fire Protection and CCMC & AM Estate Mgt also conduct monthly bell tests. Fire Extinguishers-Tested yearly and checked weekly by AM Estate Mgt & CCMC. Emergency Lighting-Tested quarterly by Total Fire Protection. The Management Company and managing agent can only do so much i.e. what happens inside yoru apartment is many times outside our control. We have attached a fire safety advice leaflet which we would urge you to read. We would urge all members to ensure they have the following items installed in their apartments: 1. Fire extinguisher Managing Agent: Property Manager: Adrian Muldoon: Ph: / Upper Pembroke Street, adrian@amestatemanagement.com Dublin 2 Complex Manager: Paul Payne: (on site) New Address hr Emergency Number: Directors: Con O Mahony, Kevin Barry, Darragh Delany, Linda Condon, Dympna Conlon Clifden Court Management Company Ltd. is registered in Ireland with registered number: Registered Office: Clifden Court, Ellis Quay, Dublin 7

6 Ellis Quay Dublin 7 2. Fire blankets 3. Fire Alarm-Make sure these alarms are tested on a ¼ basis. You re Development Insurance The placing of the block insurance policy is a service responsibility provided by AM Estate Management through consultation with the Board. The developments insurance is provided by XL Insurance through brokers, Insight Insurance. The insurance is renewed annually (Policy expires on the 31 st March every year) having professionally revised the building valuations for reinstatement purposes. We also have engineering cover in place for all 8 lifts in the development. The board and AM Estate Management have also elected to put Directors liability insurance in place. It is important to note that owners are responsible for the insurance of their own contents and public liability within their units. In particular landlords/investors should ensure that their tenants are aware that they must insure their own personal contents. Claims must be reported immediately to our office and AM Estate Mgt will assist owners in the claims process and recovery of loss as applicable. Maintenance of Your Apartment Bathrooms The main cause of water leaks in Clifden Court is due to bathrooms not been maintained properly. You should always ensure you check the grouting around the tile/bath area every months as should the grouting fail around the bath area water will make it under your bath area and eventually to the apartment below. The shower/bath seals and grout should always be watertight and in good repair. Leakage or escape of water from appliances/fixed installations Another cause of water leaks in Clifden Court is due to an escape of water from appliances/fixed installations. Below is a useful checklist and routine inspections should be carried out by owner occupiers and landlords/tenants. Managing Agent: Property Manager: Adrian Muldoon: Ph: / Upper Pembroke Street, adrian@amestatemanagement.com Dublin 2 Complex Manager: Paul Payne: (on site) New Address hr Emergency Number: Directors: Con O Mahony, Kevin Barry, Darragh Delany, Linda Condon, Dympna Conlon Clifden Court Management Company Ltd. is registered in Ireland with registered number: Registered Office: Clifden Court, Ellis Quay, Dublin 7

7 Ellis Quay Dublin 7 Check that the washing machine/dishwasher connections and discharge pipes are sealed and watertight. Check all expansion pipes are clear to ensure that they are not overflowing. Check balcony drains are clear and free from obstruction. Check for air locks in radiators-this may indicate a leak in the heating system. Your electrical installation should be inspected by a RECI or ECCSA registered contractor at intervals not exceeding 10 years. Proper ventilation/condensation We have attached a condensation fact sheet which we would also urge you to read. Condensation occurs when steam or water vapour comes into contact with a cold surface and condenses on that surface in the form of water droplets. We receive many calls throughout the year especially from landlords asking about mould issues in the development. After inspection the following issues also surface: Tenants drying clothes on radiators. Vents sealed up. Windows permanently closed. Hearting rarely turned on. Extractor fan not been used when cooking. Pans/Pots not covered when cooking. Finally we wish to thank the board of Clifden Court Management Company for their time and commitment to the development, in assisting with the budget and the general assistance they provided over the past 12 months. If you have any question on any of the above contents, please do not hesitate to contact me. Yours Sincerely, Adrian Muldoon Property Manager Managing Agent: Property Manager: Adrian Muldoon: Ph: / Upper Pembroke Street, adrian@amestatemanagement.com Dublin 2 Complex Manager: Paul Payne: (on site) New Address hr Emergency Number: Directors: Con O Mahony, Kevin Barry, Darragh Delany, Linda Condon, Dympna Conlon Clifden Court Management Company Ltd. is registered in Ireland with registered number: Registered Office: Clifden Court, Ellis Quay, Dublin 7

8 Clifton Court Management Company Ltd. Financial Projections 2016 BUDGET Budget Notes INCOME Service Charges 332, ,160 Looked to keep 2016 budget at same amount Total Income 332, ,160 EXPENDITURE Insurance 30,000 30,000 A number of claims in 2015 Refuse Service 8,700 8,700 Same rate as 2015 Management Agents fee 30,000 35,000 Increase from Same rate from 2009 Janitor's Service 33,000 35,500 Increase from Same rate from 2007 Repairs & Maintenance - General 20,000 20,000 Same rate as 2015 Repairs & Maintenance - Lifts Contract 15,000 15,000 Same rate as 2015 Repairs & Maintenance - Lift Outside Contract Items outside Contract Lift Phone Lines-Emergency 0 1,771 Emergency phone lines-new to the budget Repairs & Maintenance - Locks & Fobs Increase from 2015 Repairs & Maintenance - Vehicular Gate 1,500 2,000 Increase due to actual spend in 2015 Repairs & Maintenance - Pedestrian Gate Increase due to actual spend in 2015 Repairs & Maintenance - Sewerage Pump 750 1,300 Increase due to actual spend in 2015 Repairs & Maintenance - Water Pump 1,000 1,200 Increase due to actual spend in 2015 Repairs & Maintenance Electrical 0 2,000 UPC/Electricity Lines Etc.. Repairs & Maintenance Plumbing 3,000 2,500 Slight reduction from 2015 Repairs & Maintenance-Intercom 1,500 1,000 Slight reduction from 2015 Repairs & Maintenance - Fire Alarm/Fire Extinguishers 5,000 5,000 Same as 2015 Electricity 30,500 30,500 Same as 2015 Security 22,950 22,950 Same as 2015 Common Area Cleaning 21,000 21,000 Common Area cleaning Car Park Mgt Same rate as 2015 Web-Site Hosting Fees Slight reduction from 2015 CCTV/Security Services 3,000 4,000 CCTV/Security Auditors Fees 2,016 2,086 Actual spend 2015 Window Cleaning 2,837 2,837 Window cleaning-inaccessible windows General Expenses 500 1,000 Increase from 2015 Administration, Post & Stationery & AGM 1,800 1,800 Same figure as 2015 Vermin Control 650 1,250 Increase due to actual spend in 2015 Emergency Service Same rate as 2015 After Hours Call Out-Emergency 0 0 After Hours Call outs Bank Charges Same rate as 2015 Secretarial Fees 0 0 Included in Mgt Agent Charge Legal fees 2,500 4,350 Increase from 2015 Corporation Tax Based on actual spend 2014 Roof Survey 0 0 Completed in 2015 Capital Expenditure-Painting 0 9,851 Blocks A-D Completed 2015 E-H 2016 Capital Expenditure-New Light Fittings 0 18,550 5 Blocks to be completed Capital Expenditure: Sinking Fund 38,200 38,200 Reduction from 2014 due to roof repairs Capital Expenditure: Roof Repairs 46,142 0 Completed blocks left G/H Bad Debts 5,000 5,000 Same rate as 2015 Insurance Claim Expenses (75%/25%) 2,500 2,500 Increase from 2015 Fire Brigade Call Out Charges Same rate as 2015 Total Expenditure 332, ,160 Budgeted Surplus / (Deficit)

9 Payment Options Ellis Quay Dublin 7 Payment In Full - Payment must be made within 30 days of the date on the invoice. ** We have issued the service charges early this year due to the fact that the AGM was held earlier. As a result, payment in full date is listed as January 30 th 2016 Quarterly- The first payment date on 13th February, 15 th May, 14 th August and 13 TH November 2016 Monthly-Members can pay monthly with the first monthly payment scheduled within thirty days of receiving the 2016 service charge invoice. **January 30th Payment Methods Electronic / Online Payments may be made to: A/c Name: Clifden Court Management Company Ltd. IBAN: IE56 AIBK BIC: AIBKIE2D Bank: AIB, Capel Street, Dublin 1 Reference: *Your Apartment Number and Name* Cheques must be made out to Clifden Court Management Company Ltd. and sent to AM Estate Management, Upper Pembroke Street, Dublin 2, D02 EK84. Standing Order / Direct Debit Payments may be made using the attached form. Please forward the original to your bank with a copy to AM Estate Management. ** Please note that if members are using the quarterly or monthly option. A copy of the standing order must be returned to AM Estate Management. Managing Agent: Property Manager: Adrian Muldoon: Ph: / Upper Pembroke Street, adrian@amestatemanagement.com Dublin 2 Complex Manager: Paul Payne: (on site) New address hr Emergency Number: Clifden Court Management Company Ltd. is registered in Ireland with registered number: Registered Office: Clifden Court, Ellis Quay, Dublin 7

10 CCMC BANK DETAILS NAME : Clifden Court Management Company LTD Bank : A.I.B. Capel Street Dublin 1 SORT CODE : ACCOUNT NO: IBAN : IE56 AIBK BIC: AIBKIE2D

11 Ellis Quay Dublin 7 STANDING ORDER MANDATE 1) To: Bank Manager: (Insert the name and branch of your bank here) You are authorised to set up a Standing Order on my/our account as specified below. My/Our account will at all times contain sufficient funds to enable each payment to be effected on the due date. 2) Signed: Date: Second Signature: (where applicable) 3) Address: Please charge to my account: 4) Account Number 5) Account sort code 6) Details for Payment Account Beneficiary Name Clifden Court Mgt Company Beneficiary Bank Sort Code Beneficiary A/c )Frequency On day Start Date Expiry Date D D M M Y Y Y Y Amount IBAN : IE56 AIBK (BIC: AIBKIE2D) You must complete the sections numbered 1 to 7 above 1) Insert the name of your bank and the branch address on line 1. 2) Sign and date the form. If the standing order is drawn on a joint account the second signatory must also sign. 3) The address must be the address that appears on your bank records 4) Enter the number of your bank account here 5) Enter the sort code of your bank branch here 6) Please enter apartment details here, as this is the narrative that will determine payee details on bank records. 7) Please enter payment dates and amount in this section Please note that Start Date and Expiry Date shown above confirm the dates that the first transfer takes place and the last transfer. Please return this form to your Bank and a COPY to: AM Estate Management, Upper Pembroke Street, Dublin 2 Managing Agent: Property Manager: Adrian Muldoon: Ph: / Upper Pembroke Street, adrian@amestatemanagement.com Dublin 2 Complex Manager: Paul Payne: (on site) New Address hr Emergency Number: Clifden Court Management Company Ltd. is registered in Ireland with registered number: Registered Office: Clifden Court, Ellis Quay, Dublin 7

12 AFTER HOURS EMERGENCY SERVICE AN EMERGENCY IS DEFINED AS ONE OR MORE OF THE FOLLOWING: A leak or water damage from one apartment to another or common area. An alarm activation. A break-in. A fire incident or fire alarm activation. Vehicular gate failure. Damage to a common area security door An injury or accident occurring within a communal area. Mains utility failure i.e. water, electricity, gas. Any call to the emergency service, which is not deemed an emergency will not be deal with. AFTER HOURS EMERGENCY CONTACT NUMBER GARDAI FIRE ALARM AND AMBULANCE EMERGENCIES 999 **NON EMERGENCY CALLS WILL BE BILLED TO THE OWNERS ACCOUNT. The charge will be 35

13 Clifden Court Management Company Ltd. Annual General Meeting Tuesday 3 rd November :15PM Ashling Hotel

14 Agenda Consideration of the directors report Consideration of the statutory auditors report Consideration of the Balance sheet and Income & Expenditure account Election / Re-election of directors Appointment / Re-appointment of statutory auditors Fixing of the statutory auditors remuneration Consideration of the 2016 Budget DCC Liffey Cycle Route-Option 3 Any Other Business

15 Financial Accounts 2014 Income & Expenditure 2013 V 2014 Please see attached document

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18 Propose/Second Consideration of the directors report Consideration of the statutory auditors report Consideration of the Balance sheet and Income & Expenditure account

19 Directors Current Directors: Darragh Delaney Kevin Barry (Secretary) Con o Mahoney Linda Condon Dympna Conlon Any Members interested in joining the Board of Clifden Court Mgt Company?

20 Appointment / Re-appointment of statutory auditors Fixing of the statutory auditors remuneration Dunne Mc Nulty Nannery

21 CONSIDERATION OF THE 2016 BUDGET Please see attached document Must be presented and approved at general meeting It can be amended by at least 60% of the members attending and in order to be disapproved must be voted against by at least 75% of the members attending If disapproved, the existing charges (prior year) shall remain in place until adoption of a new charge. Please see attached Budget

22 Clifton Court Management Company Ltd. Financial Projections 2016 BUDGET Budget Notes INCOME Service Charges 332, ,160 Looked to keep 2016 budget at same amount Total Income 332, ,160 EXPENDITURE Insurance 30,000 30,000 A number of claims in 2015 Refuse Service 8,700 8,700 Same rate as 2015 Management Agents fee 30,000 35,000 Increase from Same rate from 2009 Janitor's Service 33,000 35,500 Increase from Same rate from 2007 Repairs & Maintenance - General 20,000 20,000 Same rate as 2015 Repairs & Maintenance - Lifts Contract 15,000 15,000 Same rate as 2015 Repairs & Maintenance - Lift Outside Contract Items outside Contract Lift Phone Lines-Emergency 0 1,771 Emergency phone lines-new to the budget Repairs & Maintenance - Locks & Fobs Increase from 2015 Repairs & Maintenance - Vehicular Gate 1,500 2,000 Increase due to actual spend in 2015 Repairs & Maintenance - Pedestrian Gate Increase due to actual spend in 2015 Repairs & Maintenance - Sewerage Pump 750 1,300 Increase due to actual spend in 2015 Repairs & Maintenance - Water Pump 1,000 1,200 Increase due to actual spend in 2015 Repairs & Maintenance Electrical 0 2,000 UPC/Electricity Lines Etc.. Repairs & Maintenance Plumbing 3,000 2,500 Slight reduction from 2015 Repairs & Maintenance-Intercom 1,500 1,000 Slight reduction from 2015 Repairs & Maintenance - Fire Alarm/Fire Extinguishers 5,000 5,000 Same as 2015 Electricity 30,500 30,500 Same as 2015 Security 22,950 22,950 Same as 2015 Common Area Cleaning 21,000 21,000 Common Area cleaning Car Park Mgt Same rate as 2015 Web-Site Hosting Fees Slight reduction from 2015 CCTV/Security Services 3,000 4,000 CCTV/Security Auditors Fees 2,016 2,086 Actual spend 2015 Window Cleaning 2,837 2,837 Window cleaning-inaccessible windows General Expenses 500 1,000 Increase from 2015 Administration, Post & Stationery & AGM 1,800 1,800 Same figure as 2015 Vermin Control 650 1,250 Increase due to actual spend in 2015 Emergency Service Same rate as 2015 After Hours Call Out-Emergency 0 0 After Hours Call outs Bank Charges Same rate as 2015 Secretarial Fees 0 0 Included in Mgt Agent Charge Legal fees 2,500 4,350 Increase from 2015 Corporation Tax Based on actual spend 2014 Roof Survey 0 0 Completed in 2015 Capital Expenditure-Painting 0 9,851 Blocks A-D Completed 2015 E-H 2016 Capital Expenditure-New Light Fittings 0 18,550 5 Blocks to be completed Capital Expenditure: Sinking Fund 38,200 38,200 Same as 2015 Capital Expenditure: Roof Repairs 46,142 0 Completed blocks left G/H Bad Debts 5,000 5,000 Same rate as 2015 Insurance Claim Expenses (75%/25%) 2,500 2,500 Increase from 2015 Fire Brigade Call Out Charges Same rate as 2015 Total Expenditure 332, ,160 Budgeted Surplus / (Deficit)

23 Projects Roof-Courtyard side A/B/C/D started end of November 2014-Completed January Last 2 blocks G/H-No roof repair works scheduled in 2016 Painting of blocks A/B/C/D completed September 2015 Painting of remaining projects to be completed in early 2016 (Blocks E/F/G/H) New common area sensor light fittings installed in Block H end of 2014.We are looking to complete 6 other blocks in 2016

24 Any Other Business Proposed Liffey Bike Route-Dublin City Council

25 It is now a statutory obligation under Section 8 of the Multi-Unit Developments Act 2011 to provide and maintain your OMC with current and up to date contact details for both you and your tenants. If you would like to receive information relating to Clifden Court Management Company-Please forward us your address to adrian@amestatemanagement.com Owner s Name: Development Number and Address: Contact Telephone Numbers: Work: Home: Mobile: Postal Address:(If other than above) Address: Tenant s Name: Key Holder s Name:(Dublin based contact) Other Contacts: Tenant s Contact Number: Work: Home: Mobile: Key Holders Contact Numbers: Home: Work: Mobile: Contact Numbers: Home: Work: Mobile:

26 Clifden Court Management Company Ltd. CLIFDEN COURT APARTMENTS HOUSE RULES Please keep in mind that Clifden Court is a residential neighbourhood and your neighbours are directly affected by your actions. Please be considerate to your neighbours at all times. The following are the enforcement steps and the house rules. Enforcement of House Rules Three step process to deal with unacceptable behaviour and breaches of the house rules: 1. First offences: Notice directly to the residents and to owner. Immediate fine of 250 for serious offences. 2. Fines: 250 for each offence, charged directly to the owner and pursued for collection. 3. Issue a demand for eviction. May also issue further fines and apply interest to outstanding balances. If the owner does not comply, the management company and managing agent may withdraw all services to the owner, take action in conjunction with the Private Residential Tenants Board (PRTB), or other legal means. Offences: Offences covered include all the house rules (as outlined below), particularly; excessive noise, aggressive behaviour, damage to common areas, dumping of non-domestic waste, etc. Notwithstanding the three-step process above, Gardai may be called for any individual incident, and prosecutions will be pursued vigorously. Costs incurred by the management company arising from residents behaviour will be recovered from owners in addition to fines for each offence. It is up to owners to recover these costs from their tenants. RESIDENTS ARE ENCOURAGED TO REPORT ALL INCIDENTS OF BREACHES OF THE HOUSE RULES TO AM ESTATE MANAGEMENT, QUOTING THE APARTMENT NUMBER AND THE NATURE OF THE ACTIVITY. THE SECURITY GUARD AND JANITOR ARE ALSO VIGILANT FOR BREACHES OF HOUSE RULES AND REPORT ALL INCIDENTS TO AM ESTATE MANAGEMENT. Infringement of the house rules that follow is a violation of the owners lease and will be addressed in the strictest possible manner. Costs will be recovered and fines imposed for breaches of these rules. Offenders will also be evicted and charged with offences where appropriate. The management company may take action against owners or directly against their tenants. These rules and the penalties imposed may be changed at any time without notice as the board and AM Estate Management sees fit. Contact details: Phone: Adrian@amestatemanagement.com Out of Hours phone:

27 Clifden Court Management Company Ltd. Noise levels, disturbances or aggressive behaviour Noise must be kept to a minimum at all times, and must not disturb your neighbours. Excessive noise must not emanate from any apartment at any time, particularly between the hours of 10pm and 9am. Residents and visitors are required to be considerate to the Janitor, Security guard, other residents, and any management company representative at all times. Any aggressive behaviour or failure to comply with reasonable requests will not be tolerated. Fines will be imposed immediately on owners, who may recover costs from tenants deposits. All aggressive or threatening incidents are reported to the Gardai. Security The main entrance, car park entrance, and all doors to blocks must be kept locked at all times. Doors / gates must never be propped open or opened by force. People without keys must never be admitted to the property. Suspicious activity or disturbances should be reported directly to the Gardai at Bridewell Garda station at or at 999. Such activity must also be reported to AM Estate Management. Rubbish / Refuse Domestic waste must be placed in the bins provided in the Car Park. Recyclables must be placed in the Green recycling bins. Only recyclables (as indicated on the recycling bins) can be placed in these bins. Non-domestic waste (furniture, hazardous material, household appliances etc.) must be removed immediately from the complex. Costs incurred by the management company to remove waste, or from any damage done to the common areas arising from removal of refuse will be recovered from owners. Storage / Soiling / Littering Under no circumstances is anything to be stored in common areas. Obstructions will be removed without notice and costs will be recovered. Bicycles must be stored only in the designated areas in the Car Park. Bicycles are not allowed inside the buildings. Balconies must not be used for storage of any materials or for drying clothes. Vandalism of any part of the premises is not tolerated. Costs will be recovered. Costs for repairing soiling / littering in any common area and costs for removing obstructions will be recovered from owners. Smoking / Alcohol consumption Smoking inside the common areas is an offence by law. This includes entrances, hallways, or stairwells. Failure to comply will result in a 3,000 fine. Do not litter the common areas with cigarette butts. Drinking of alcohol in the common areas is not permitted. No loitering in the common areas. Commercial Activities No business (e.g. catering, sales, etc.) may be conducted from any apartment.

28 Clifden Court Management Company Ltd. Games The courtyard, car park and other common areas are not to be used for playing games of any type (particularly ball games). Children / Guests Children must be supervised by an adult at all times while in the common areas and must conduct themselves properly at all times. Residents are responsible for the behaviour of their guests. Any breach of the house rules by guests is considered as a breach by their host. Alterations to common areas Satellite dishes or similar fixtures are not permitted on the outside of the building. No other fixture may be erected in any common area, or obstructing any common area. Any such fixtures will be removed without notice and costs recovered. Car Park No storing of immobile vehicles is allowed. Such vehicles may be towed at the owners expense, and fines will be imposed. No fixtures may be erected around car park spaces, or in any other part of the car park. Costs of removal will be charged to owners. No maintenance / servicing of vehicles may be conducted on the premises. State of repair of Apartments The lease requires owners to keep their premises in good and tenantable state of repair, decoration and condition. Where leaks are evident, owners are informed and immediate remedial action must be taken. Where the problem is not fixed by the owner, the management company may enter the apartment and remedy the problem. Costs will be charged to the apartment owner. Tenants are encouraged to report leaks to their landlord first, and to AM Estate Management if the leak is not fixed by the owner within a reasonable timeframe. All apartments must have fire alarms installed, as well as fire extinguisher(s) and fire blanket(s). Over occupancy and Overcrowding Large numbers of people residing in or gathering in apartments presents a fire and safety hazard. It also causes excessive noise, and wear and tear on facilities (plumbing, sewage pipes, refuse disposal etc.). The management company monitors over-occupancy and will impose fines. Eviction demands will also be issued and pursued. NOTE THAT CCTV CAMERAS ARE IN PLACE THROUGHOUT THE COMPLEX AND ARE MONITORED ON AN ONGOING BASIS. ALL THE HOUSE RULES WILL BE ENFORCED VIGOROUSLY.

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31 What to do: Plan for a safe place in case you cannot get out of the house. Make sure there is a phone or personal alert in the room to call for help. Make sure there is a window so you can either get out or call for help. Stay by the window if you can t get out. Close the door and seal the bottom with towels or blankets to stop smoke getting in. Call 999 or 112 Ask for the fire service. Speak calmly and clearly. Give your address and phone number. If you are calling on your mobile, say what county you are in. Only hang up when the operator tells you to. Don t: Go back into a burning house for anything. Borrow batteries from the smoke alarm. Have mirrors over fireplaces with real fires. Your clothes might catch fire if you stand too close to look in the mirror. Remember: Be careful when using portable electric, gas or oil heaters. Don t use heaters near furniture, curtains or beds. Don t leave heaters on when you go to bed. Take care if pets are near the heaters. Don t use heaters to dry clothes. Fire safety in flats and apartments! FACTS! On average 46 people die each year in fires in Ireland. Fires do not always happen to other people. The next fire could be in your home.

32 Prevent fire Don t: Smoke when you are in bed, tired or on medication. Leave the room when there are candles burning. Leave young children alone near an open fire or cooker. Leave matches and lighters where children can get them. Leave the room when a chip or frying pan is on even for a minute. Overload electric sockets one socket, one plug. Use electric appliances that don t work properly. Run electrical appliances from a light socket. Use a heater or the cooker to dry clothes. Stand too close to fires or heaters. Use petrol or paraffin to light a solid fuel stove. Make sure to: Clean your chimney and service your heating system at least once a year. Use a sparkguard with open fires. Keep your gas cylinder outside, on solid ground and away from anything hot. Use a proper holder for candles. Keep a suitable fire extinguisher and fire blanket in the kitchen. Repair or replace faulty electrical appliances immediately. Do a fire safety check before you go to bed. Empty ashtrays before you go to bed. Run the contents under the tap before you bin them. Unplug all appliances (except the fridge) at night. Close all doors at night. Detect fire Smoke alarms give you an early warning of a fire. 82% of fires that kill people are in homes with no working smoke alarm. Your building should have a fire detection and alarm system. If there are no smoke alarms, ask your landlord to get some for the building. Fit at least one smoke alarm in your flat or apartment. Test your smoke alarms at least once a week. Change the batteries every year. Change the battery right away when you hear the warning beep. Escape Know what to do when you hear a smoke alarm so you and your family can get out safely. Make an escape plan for your home and practise with everyone who lives with you. Plan at least two ways out in case one way is blocked by fire. Have a meeting point in a safe place outside the building. Keep your way out clear day and night. Keep the keys to doors and windows nearby. Know where the nearest phone is to call the fire service. If you hear the fire alarm, check doors with the back of your hand for heat before you open them. If they are warm, the way might be blocked by fire. Fire safety check A fire safety check only takes a few minutes but it could mean the difference between life and death. Make it part of your routine before you go to bed. Every night: Unplug all electrical appliances (except fridge freezer). Turn off gas appliances. Put out candles and naked flames. Place a spark guard in front of open fires. Empty all ashtrays. Keep your way out completely clear. Close all doors. FACT! Over 1,000 people every year attend casualty with burns or scald injuries. (HIPE & NPRS Unit ESRI)

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34 The Daft.ie Rental Report An analysis of recent trends in the Irish rental market for 2015 Q3 Introduction by Ronan Lyons, Economist at Trinity College Dublin and author of the Daft Report.

35 Snapshot of Rents Nationwide What can I ask for? Can I afford it? Average monthly rents across Ireland ( ), and annual change (%), 2015 Q3. 1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house 1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house DUBLIN Dublin 1 1, % 1, % 1, % 2, % 2, % Dublin 2 1, % 1, % 1, % 2, % 2, % Dublin 3 1, % 1, % 1, % 1, % 1, % LEINSTER Meath % % % % % Kildare % % % 1, % 1, % Wicklow % % 1, % 1, % 1, % Dublin 4 1, % 1, % 1, % 2, % 2, % Louth % % % % % Dublin % 1, % 1, % 1, % 1, % Longford % % % % % Dublin 6 1, % 1, % 1, % 1, % 2, % Offaly % % % % % Dublin 6W 1, % 1, % 1, % 1, % 1, % Westmeath % % % % % Dublin 7 1, % 1, % 1, % 1, % 1, % Laois % % % % % Dublin 8 1, % 1, % 1, % 1, % 1, % Carlow % % % % % Dublin 9 1, % 1, % 1, % 1, % 1, % Kilkenny % % % % % Dublin % % 1, % 1, % 1, % Wexford % % % % % Dublin % 1, % 1, % 1, % 1, % Dublin % 1, % 1, % 1, % 1, % Dublin % 1, % 1, % 1, % 1, % MUNSTER Waterford Co % % % % % Kerry % % % % % Cork Co % % % % % Dublin 14 1, % 1, % 1, % 1, % 1, % Clare % % % % % Dublin % 1, % 1, % 1, % 1, % Limerick Co % % % % % Dublin 16 1, % 1, % 1, % 1, % 1, % Tipperary % % % % % Dublin % 1, % 1, % 1, % 1, % Dublin 18 1, % 1, % 1, % 1, % 1, % Dublin % 1, % 1, % 1, % 1, % Dublin % % 1, % 1, % 1, % CONNACHT Galway Co % % % % % Mayo % % % % % Roscommon % % % % % Sligo % % % % % Dublin % 1, % 1, % 1, % 1, % Leitrim % % % % % North Co Dublin % % 1, % 1, % 1, % South Co Dublin 1, % 1, % 1, % 1, % 1, % West Dublin % % 1, % 1, % 1, % ULSTER Donegal % % % % % Cavan % % % % % Monaghan % % % % % OTHER CITIES Cork City % % % 1, % 1, % Galway City % % % % % Limerick City % % % % % Waterford City % % % % % 9 The Daft.ie Rental Report 2015 Q3 The Daft.ie Rental Report 2015 Q3 10

36 Daft.ie Snapshot of Yields The yield is the ratio of annual rents to the price of the property. It is comparable to an interest rate and is frequently used as a measure of how healthy the property market is. Gross annual yields across Ireland (%), and year-on-year change (in percentage points), 2015 Q3. 1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house 1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house DUBLIN Dublin 1 8.6% 0.5% 6.8% 0.4% 6.0% 0.5% 5.1% 0.5% 5.2% 1.1% Dublin 2 6.8% 0.7% 6.0% 0.3% 5.2% 0.5% 4.1% 0.4% 4.8% 1.2% Dublin 3 6.7% 0.0% 5.6% 0.2% 4.6% 0.0% 3.3% 0.2% 2.8% 0.1% LEINSTER Meath 8.8% 0.4% 8.4% 0.1% 6.9% -0.5% 3.7% -0.2% 3.4% -0.3% Kildare 9.0% 0.6% 8.5% 0.3% 7.0% -0.4% 3.7% -0.1% 3.5% -0.3% Wicklow 7.6% 0.4% 7.2% 0.1% 5.9% -0.4% 3.2% -0.2% 2.9% -0.3% Dublin 4 6.1% 0.4% 5.1% 0.2% 4.1% 0.1% 2.7% 0.2% 2.4% 0.1% Louth 9.3% 0.7% 8.8% 0.4% 7.3% -0.3% 3.9% -0.1% 3.6% -0.2% Dublin 5 7.1% 0.8% 6.3% 0.4% 5.3% 0.2% 3.5% 0.1% 3.0% -0.1% Longford 11.0% 1.0% 10.4% 0.6% 8.6% -0.2% 4.6% -0.1% 4.3% -0.2% Dublin 6 5.4% 1.0% 4.8% 0.7% 4.0% 0.5% 2.7% 0.3% 2.3% 0.1% Offaly 9.4% 0.7% 8.9% 0.4% 7.3% -0.3% 3.9% -0.1% 3.7% -0.2% Dublin 6W 6.1% 0.8% 5.4% 0.5% 4.5% 0.3% 3.0% 0.2% 2.6% 0.0% Westmeath 9.3% 0.5% 8.8% 0.2% 7.3% -0.5% 3.9% -0.2% 3.6% -0.3% Dublin 7 7.5% 0.7% 6.7% 0.3% 5.6% 0.1% 3.7% 0.0% 3.2% -0.2% Laois 9.5% 0.6% 9.0% 0.2% 7.4% -0.5% 4.0% -0.2% 3.7% -0.3% Dublin 8 7.6% 0.6% 6.8% 0.2% 5.6% 0.0% 3.7% 0.0% 3.2% -0.3% Carlow 9.9% 0.7% 9.4% 0.4% 7.7% -0.4% 4.1% -0.1% 3.9% -0.3% Dublin 9 7.2% 1.0% 6.4% 0.6% 5.4% 0.4% 3.5% 0.2% 3.1% 0.0% Kilkenny 8.7% 0.4% 8.2% 0.1% 6.8% -0.5% 3.6% -0.2% 3.4% -0.3% Dublin % 0.2% 9.0% -0.2% 7.5% -0.4% 4.9% -0.4% 4.3% -0.7% Wexford 8.7% 0.0% 8.2% -0.3% 6.7% -0.9% 3.6% -0.4% 3.4% -0.5% Dublin % 1.1% 8.1% 0.6% 6.8% 0.3% 4.5% 0.2% 3.9% -0.2% Dublin % 1.2% 7.3% 0.7% 6.1% 0.5% 4.0% 0.2% 3.5% 0.0% Dublin % 1.0% 6.2% 0.6% 5.1% 0.4% 3.4% 0.2% 2.9% 0.0% MUNSTER Waterford Co 8.1% 0.3% 7.6% -0.5% 6.2% -0.6% 3.3% -0.5% 3.0% -0.6% Kerry 9.1% 0.8% 8.5% 0.0% 7.0% -0.2% 3.7% -0.3% 3.4% -0.5% Cork Co 8.9% 0.4% 8.4% -0.4% 6.9% -0.6% 3.6% -0.4% 3.3% -0.6% Dublin % 1.0% 5.7% 0.7% 4.7% 0.4% 3.1% 0.2% 2.7% 0.0% Clare 8.9% -0.1% 8.4% -0.9% 6.9% -1.0% 3.6% -0.7% 3.3% -0.9% Dublin % 1.2% 7.4% 0.7% 6.1% 0.4% 4.1% 0.2% 3.5% 0.0% Limerick Co 10.0% 0.8% 9.4% -0.1% 7.7% -0.4% 4.0% -0.4% 3.7% -0.6% Dublin % 1.1% 5.7% 0.7% 4.8% 0.5% 3.2% 0.3% 2.7% 0.0% Tipperary 9.7% 0.7% 9.1% -0.2% 7.5% -0.4% 3.9% -0.4% 3.6% -0.6% Dublin % 1.1% 8.9% 0.6% 7.4% 0.3% 4.9% 0.1% 4.2% -0.2% Dublin % 1.0% 5.5% 0.6% 4.6% 0.4% 3.0% 0.2% 2.6% 0.0% Dublin % 0.9% 7.0% 0.5% 5.8% 0.3% 3.8% 0.1% 3.3% -0.1% Dublin % 1.3% 8.8% 0.7% 7.3% 0.4% 4.8% 0.2% 4.2% -0.1% CONNACHT Galway Co 10.6% 0.2% 11.0% 0.5% 9.0% -0.5% 4.5% -0.3% 4.0% -0.4% Mayo 10.6% 0.0% 10.9% 0.2% 8.9% -0.8% 4.5% -0.4% 4.0% -0.5% Roscommon 12.2% -0.3% 12.7% 0.0% 10.3% -1.1% 5.2% -0.6% 4.6% -0.7% Sligo 11.2% 0.5% 11.6% 0.8% 9.4% -0.3% 4.8% -0.1% 4.2% -0.3% Dublin % 0.9% 8.4% 0.4% 7.0% 0.2% 4.6% 0.0% 4.0% -0.3% Leitrim 11.7% 0.6% 12.1% 0.9% 9.9% -0.3% 5.0% -0.2% 4.4% -0.3% North Co Dublin 7.7% 1.1% 6.9% 0.6% 5.7% 0.4% 3.8% 0.2% 3.3% -0.1% South Co Dublin 5.6% 0.7% 5.0% 0.4% 4.1% 0.2% 2.7% 0.1% 2.4% -0.1% West Dublin 7.9% 1.1% 7.0% 0.7% 5.9% 0.4% 3.9% 0.2% 3.3% 0.0% ULSTER Donegal 10.4% 0.0% 10.7% 0.2% 8.8% -0.7% 4.4% -0.4% 3.9% -0.5% Cavan 10.9% -0.4% 11.3% -0.1% 9.2% -1.1% 4.6% -0.6% 4.1% -0.7% Monaghan 10.3% -0.1% 10.7% 0.2% 8.7% -0.8% 4.4% -0.4% 3.9% -0.5% OTHER CITIES Cork City 8.5% 0.1% 8.0% -0.4% 5.8% -0.6% 3.5% -0.3% 2.9% -0.5% Galway City 8.5% 0.1% 7.9% -0.3% 5.8% -0.5% 3.5% -0.3% 2.9% -0.5% Limerick City 10.0% 0.1% 9.3% -0.4% 6.8% -0.7% 4.1% -0.4% 3.4% -0.6% Waterford City 10.5% 0.6% 9.8% 0.0% 7.2% -0.4% 4.3% -0.2% 3.6% -0.4% 11 The Daft.ie Rental Report 2015 Q3 The Daft.ie Rental Report 2015 Q3 12