Financials

Updated 29 October 2025

2026: $1,952,650 is budgeted, which is 5.2% less than 2025, but keep in mind that after each year there is often a “shortfall” to be collected later. 2026 suite fees Note that no actual budget is provided, but only a global amount and the payment per month required from each suite.

2025: $2,060,066 was budgeted. The budget sheet and accompanying pages contain a variety of errors, most of which are repeated year after year, despite having been brought to the company’s attention; my notes and comments on these follow the budget sheet. 2025 budget and notes

Following are the year-end operating-expense statements for Orchard House going back to its first full year as a 99-year leasehold in 1975 after conversion from by-the-month rentals. Year-end statements can arrive early in the subsequent year or not until the fall. All links open in a new browser tab.

2024: $1,746,540 was budgeted oh-2024-budget but once again spending was higher, and the lessor also claimed boiler and hot tub projects were over budget, so in June 2025 demanded $445,657 more than it collected from lessees in 2024 monthly suite fees. These pay-it-now bills range from $1,521 for studio suites up to $2,999 for some of the two-bedroom suites. Included in the landlord’s spending of our money during 2024 was $250,000 identified only as “legal”; ‘no other disclosure. The year-end letter telling us to pay up, plus the financial statement follow.

2023: $1,636,940 was budgeted. The year-end statement received in July of 2024, however, showed total spending of $1,988,940, so lessees were told to cough up another $352,006. In two payments, studio suite lessees were billed about $1,200, one-bedroom suite lessees about $1,600 and two-bedroom suite lessees about $2,375.

2022: In a pattern seen at other Westsea-owned leasehold buildings, $225,000 in “legal” expenses was billed to lessees during 2022, which court-ordered disclosures show is due to many administrative matters being turned over to its law firm, not due to litigation. This expense is 17% of total O.H. spending, and exceeds all other expenses except insurance. Lessees were later billed for a 2022 “shortfall” of $134,000, so would have seen a credit if not for this one outrageous expense.

2021: Lessees were told in September of 2022 to pay an additional $158,778 to cover operating costs during 2021.

2020: There was a “surplus” in 2020 only because suite fees rose so dramatically after 2016.

2017: The 2017 statement shows landlord “legal” expenses jump to $426,337 from $6,980 in 2016, but no such costs at all in prior years. With some other expenses thrown in lessees were told to pay a shortfall of $551,954, which for the smallest suite was $1,884, and for the largest suite lessees was $3,694. The cover letter notes that lessees had already early in 2018 paid the $181,000 shortfall for windows/doors replacements. And of course we’d already paid our shares of $5.55 million on the original windows-project estimate. No wonder some lessees lost their homes at this time! 2017 year-end statement

2016: Legal expenses appear for the first time this year. The statement includes capital-cost numbers for the windows replacement project; the blending of operating expenses with capital expenses is confusing. 2016 year-end statement

Next is a zip file of statements starting with 2017 in reverse-chrono order to 1975. We thank lessee HughTrenchard for assembling these and providing them as an excerpt from a court document, which cover page called “Tab G” you can ignore. The set does not have statements for 2016 and 2012, but because each year’s statement shows last year’s numbers for comparison, look at 2017 and 2013 for those numbers.