Property management company - duty to seek lowest utility prices?

da_rule

No, it would appear that it doesn't. With our company, we had to appoint a couple of local residents as 'directors', but no one really has any idea what they do exactly. As the company that manages our road is a larger company.

eddddy

emv wrote: »

I know there's the Right to Manage for leaseholders

Unfortunately, freeholders don't have the same legal protection. You might find this document useful, if you haven't seen it already: http://arma.org.uk/downloader/f15.pdf

But it states:

The Government has passed a number of Acts of Parliament
giving rights and protection to leasehold flat owners, which unfortunately don’t apply to freeholders.

Robin9

Yes the developer can probably get a better contract but he has probably got his eyes on building, marketing and selling the remaining properties and to him a bill of £4k is chickenfeed.

As others have said you cannot compare domestic and commercial tariffs - eg a standing charge of £4 a day rather than pence.

When all is transferred to the management committee they will have some challenges - maintenance of the plant plus the roads and common areas.

emv

For the developer there is no incentive to get a better deal as he's not paying the final bill, I get that but it seems unfair.

I am only comparing business energy prices, I have the MPAN so can compare all of the business deals out there compared to what we're paying. We have a business contract for our own property & that has a standing charge of £2.50/month plus lower electricity rates at night time & that would be a significant saving over what's being paid - there are about 15 other better offers I've found so far.