Excessive Flat Maintance Charges

lovely_stuff

Hi I'm just putting the feelers out on perhaps investing in a city centre apartment, in Cardiff, with a view to short term letting.

However Im a little put off by the 'maintance charges' i've been quoted. £1800 per year for a 2 bedroom apartment in a (albeit) newish complex of around 50 apartments, and £2800 for a 1 bedroom.

The apartments are in a great spot next to the Millenium Stadium, which I feel could be ideal for coporate/executive letting.

I find these charges pretty rediculous tho.. Are these charges the going rate?

Ladybird20

mine is 1200 per year which i think is a total rip off,,,,,,

QTPie

My mother's flat (Bristol area) is about £1600 a year. That is in a modern (2002/3) purpose built block of about 50 flats. Some communal garden/terrace, underground parking garage, lift (apparently lifts always put up the cost - due to maintenance/insurance).

You can expect to pay about £1200 to £2000 service charge a year for a flat in a substantial purpose built block, but would pay a lot more in London.

Part of it depends on what facilities are provided... gym/pool/concierge/porter/parking?

QT

cattie

I was househunting last year & considering buying a flat. I live in a London suburb & in the area I live in the average maintenance charge for 2 bed flats was in the region of £2000 per year.

The developments were very well maintained, with landscaped grounds, so it didn't sound unreasonable to me.

ad44downey

lovely_stuff wrote: »

However Im a little put off by the 'maintance charges' i've been quoted. £1800 per year for a 2 bedroom apartment in a (albeit) newish complex of around 50 apartments, and £2800 for a 1 bedroom.

Why is the service charge £1K greater for a smaller apartment? You'd think the larger flat would have the bigger service charge

PS. near where I live in London the service charge is at least 3 grand per year