Management pack - First I've heard of it?

Car1980

G_M wrote: »

In most cases, either the buyer, their solicitor, and/or their mortgage lender, will demand a management pack to ensure you are paid up to date and to check for any projected potential future costs.

Yes, so it's a good idea to keep all your records. Management packs are usually duplicates of what you already possess.

futuresbright

Thankyou all for your replies.

On further inspection of my covenants there is no mention whatsoever of any fees to be paid or management pack to be produced?

Even the usually helpful Google doesn't seem to be offering much information in what I see as nothing more than a money making scheme for these management company's.

I accept from your replies that these packs exist but to be told they are quite normal is difficult to understand when there is no documentation at all.

I ask again, what about in 5 years time the fees are then £700 or more, do I just accept and pay it?

The management company already take approx £2400 from the residents for their admin fees this year, 4 years ago when we moved in this figure was £1200 , if things aren't documented and challenged they will continue to manufacture these excessive payments.

Still waiting for an official response from the management company.

economic

i think the point is that any buyer solicitor will need to see the management pack before he can advise to buyer about buying. if the solicitor does not receive the pack then there is no info on the management of the property and therefore the solicitor will advice the buyer not to buy. this management pack NEEDS to come from the managing company who looks after the building etc.

im afraid you will have to pay up whatever they demand if you wan tto sell in the future. just because it doesnt say in the lease doesnt mean they cant charge you x amount.

the fact is you WILL need the management pack if you want to sell. the management pack is not even legally required to be given by the management company. but they will do it for some money of course and they will charge whatever they want. they wont charge you silly money obviously as they dont want to scare you away.

this is how the system is at the moment. like it or hate it. its just the way it is. this is all based on my extensive experience having dealt with it before.

economic

tbh the fees dont sound too bad.

the service charge doubling after 4 years do however, any reason why? the management company should give you a breakdown of the service charge every year.

Thrugelmir

futuresbright wrote: »

I accept from your replies that these packs exist but to be told they are quite normal is difficult to understand when there is no documentation at all.

At the time you bought your property was the development complete? Councils no longer adopt open areas and often not even roads. All down to the residents.

futuresbright

Thrugelmir wrote: »

At the time you bought your property was the development complete? Councils no longer adopt open areas and often not even roads. All down to the residents.

No, i was in the first phase, i was about 25 out of 58.

I appreciate that councils no longer adopt.

futuresbright

economic wrote: »

tbh the fees dont sound too bad.

the service charge doubling after 4 years do however, any reason why? the management company should give you a breakdown of the service charge every year.

2014
Landscape maintenance - £2750
Repairs and renewals - £ 350
Management Fees - £1392
Bank charges- £80
Accountancy fees - £420
Health and safety - £420
Public liability insurance £280
Tree reserve fund - £250
External estate reserve - £250

2016

Landscape maintenance £1833
Management fees £2436
Company adminstrative fees £420
Accountancy £432
Dormant company accounts £133
Bank charges £80
Postage £348

This, bearing in mind is for grass cutting of a lawn 30m x 20m and approx 3 flower beds :mad:

NeilCr

To be honest you accepted a fee of £120 per annum when you moved in and got on with it. Now it looks like you are paying less than that?

Figures (the breakdown anyway) do look a bit strange and the management fees high but the overall service charge is decreasing which is quite unusual, in my experience

Is it the same company?

futuresbright

NeilCr wrote: »

To be honest you accepted a fee of £120 per annum when you moved in and got on with it. Now it looks like you are paying less than that?

Figures (the breakdown anyway) do look a bit strange and the management fees high but the overall service charge is decreasing which is quite unusual, in my experience

Is it the same company?

£106 when we moved in , it's £120 now. That part I don't have a issue with, I'm concerned they seem to be able to put up their fees without consultation, could they do the same with their management pack over the years?

economic

futuresbright wrote: »

£106 when we moved in , it's £120 now. That part I don't have a issue with, I'm concerned they seem to be able to put up their fees without consultation, could they do the same with their management pack over the years?

they could charge anything. unless there are reforms. if you want to sell you will have to pay up. they dont even have to give the information, but they would be stupid not to as they can make easy money from you by chargig you for it.