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Property Management admin fees
Borassic
Posts: 4 Newbie
I've received a demand from a debt collection agency working for our property management company for £295.68 made up of a service charge of £130.23 plus three administration fees totaling £165.45.
On top of the £295.68, the debt agency has added £50 making it £345.68.
I do not dispute the £130.23 service charge and admit that I am late (charge issued on 1st July).
I'm intending to challenge the administration charges, (two of which have been sitting there since Feb 2008 and Jan 2009)
I don't object to paying an administration charge when payments are late (assuming that's why they were added), but I object to the AMOUNT of each admin fee. They charge £50 plus VAT which I consider excessive. The admin fees amount to around 45% of the amounts owed.
Does anyone know if admin fees for property management are regulated in any way? Do they have to reflect true administration costs as in the case of credit cards and insurance?
Or should i just pay up? I'd appreciate any advice/ experience etc.
On top of the £295.68, the debt agency has added £50 making it £345.68.
I do not dispute the £130.23 service charge and admit that I am late (charge issued on 1st July).
I'm intending to challenge the administration charges, (two of which have been sitting there since Feb 2008 and Jan 2009)
I don't object to paying an administration charge when payments are late (assuming that's why they were added), but I object to the AMOUNT of each admin fee. They charge £50 plus VAT which I consider excessive. The admin fees amount to around 45% of the amounts owed.
Does anyone know if admin fees for property management are regulated in any way? Do they have to reflect true administration costs as in the case of credit cards and insurance?
Or should i just pay up? I'd appreciate any advice/ experience etc.
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