Management Fees for Flats

tilamok

Helloo All

I would like to compare the management fees that we pay monthly and decide whether it's worthwhile having a house as opposed to a flat.

Personally I pay £220 a month on a 2 bed flat in zone 5 London. It was initially £110 but increased 6 months later since buying...

Please if it's not too much trouble indicate to me if I'm paying the average amount or excessively

:T

helpmysis

I pay around £110 p/m excluding buildings insurance which is around £400 PA. We are currently paying around £30 extra p/m than it was as they are hoping to replace the windows and are building up a slush fund.

Mine is a two bed in zone 4, around 650 sq ft. No lift, porter etc. Just basics like window cleaning, gardening, management fees etc.

HTH

neverdespairgirl

In our new flat, we're going to be paying (for this year) £1,350 for the year, including buildings insurance. There is a lift, too.

tilamok

Gosh

As I expected I seem to be paying aboove average

helpmysis

tilamok wrote: »

Gosh

As I expected I seem to be paying aboove average

Do you know why it's gone up so much? They should give you a breakdown, and any large expenses (over £250 I think) need to be agreed by all residents. Do you have a residents commitee that can voice an opinion to the management company? If you think you are being ripped off, would looking into taking on the freehold help?

Thrugelmir

tilamok wrote: »

Gosh

As I expected I seem to be paying aboove average

Funds need to be built up for future expenditure.

As although some may be lower. If an unexpected cost is incurred such as a new roof. Then all leaseholders are liable. Which could come as a shock.

property.advert

I had one in Zone 1 which is now around £400 per month.

You need to find out whether you have a sinking fund and if not, push to get one started. You will need to make sure that it can be attributed to the property and included in the sale price later, either X+Y or X including Y (price of flat plus accrued portion of sinking fund).