How long can Management Agents hold onto Major works fund

m0bov

The agents for out block of 12 flats applied for funds for major works two years ago. I knew about it when I was purchasing the flat. It was for external and internal decoration. The interior is fine but it was stated on the lease every 7 years. The exterior really needed doing, missing guttering, rotten timbers and doors and peeling paint.

We got a bill for about £900 last August and were, after asking, given 4 months to pay by instalments so as not to delay the work.

The contractor (who also lives here) done the internal works last January. The external work has still not been started. The is no date and each time I ask I get fobbed off with "in a few weeks" or "nearly there".

I am due to pay another bill to them in a couple of months, I feel like asking them to take it out of the money they are sitting on. Other flat owners feel the same.

Surely the company can't ask for money for nothing? Should we at least have a date for the work to start?

Ta

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depends on wording in lease? If the money is in a reserve fund for major works they can do it over long periods of time. We forecast for next 30 years of work and spread that amount over 30 years. What are they asking for money for now? Is it major works?- if so they could use the amount in fund and charge you remainder. If it's for ground rent, buildings insurance or seperate repairs the fund was not set up for, think you'll have to pay i'm afraid.

m0bov

Hi, not a sink fund. they were in debt for a time. There was a quote for the works which they then billed us for a year ago. I paid the last payment in Feb. Builder seems to be sitting on it now.