Leasehold purchase - Pier Management

jamesbrown457

How long does it take for a management agent to send out a leasehold management pack!! Absolutely absurd the length of time some management agents take, just adds to the stress of purchasing a property. Anyonelse had similar experiences?

G_M

Yes of course others have had similar experience.

It typically takes between 3 days and 3 months.

Absurd? well, it might depend who the freeholder is. If an individual who has retired and lives on a yacht cruising the Pacific you can see why it might take a while...!

(not excusing many tardy professional freehold companies.)

AlexMac

Agree GM, but when I was treasurer of a small shared freehold company owned by the leaseholder/residents where we had a homespun/DIY approach to property management, I turned these round to my prospective co-owners' solicitors in 1-2 days...

... and having control, with no incompetent or greedy agent, meant we had the lowest possible service-charges, fastest maintenence and the best sinking fund in the manor...

Which is why, when buying, I have a strong presumption for well-managed shared freehold flats, and if not poss, try to reassure myself who the freeholder is and what the management arrangements are like. After all, when water's pouring through from upstairs you ain't gonna be wanting to Skype a yacht in the Med... or an Agent on a long lunch! Occasionally I've tried phoning an Agent prior to an offer and got a response so frosty that I've walked away. On another ocasion I saw from Google that the residents had taken an unsuccessful legal action against the freeholder or agent.

Possibly a bit late for you as you've now committed but while this might be a one off- admin error, it might be worth knocking on doors or dropping notes asking other leaseholders what their experience has been like...
...in case it's so catastrophic that you want to cut your losses and swallow the legal fees to date? I once kissed goodbye to £700 for similar reasons so that proves I'm not that clever!

t_o_b

jamesbrown457 wrote: »

How long does it take for a management agent to send out a leasehold management pack!! Absolutely absurd the length of time some management agents take, just adds to the stress of purchasing a property. Anyonelse had similar experiences?

Hi - sorry to dig up this old thread but I'm currently waiting on a management pack from Pier. I was wandering how long you had to wait in the end and if you had any tips from your experience to get them to move faster?