PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Self-managed blocks?

Options
I recently viewed a flat that looked pretty good, and it turns out that the occupiers voted to kick out the management company a few years ago.  As a result, the service charge is quite decent for the size of the flat. Is there any sort of consensus on whether self-managed blocks of flats are good or bad?  Or is it impossible to tell until you're living there?

Comments

  • Leaseholders can't just vote to 'kick out' the management company, which is usually appointed by the freeholders (unless it's a shared freehold and they have collectively decided to drop management company?).

    If it's not a shared freehold then the leaseholders might have applied for Right to Manage which gives them legal right to take control of the management. If they don't have this then the freeholder can decide to appoint another company at any time.

    The terms of the lease/es must still be adhered to with regards to maintenance (it might state that the building must be redecorated every X years etc) and relevant checks made when due.

    As long as someone has taken responsibility and is actually doing the things that need doing then self management is saving everyone a fair amount each year, but I would want to clarify exactly what the arrangements are as noted above.


  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I think you have answered  your  own question.
    Reasonable service charge
    Well looked after building and gardens, car parking.
    Management company based miles away from the property  might charge £50+ vat to send out a letter.
    If you have skin in the game you tend to look after your home. 
    Same with buildings insurance, garden maintenance, Repairs and replacement.
    How much is in the sink fund ?
    What is the condition of the building ?
    EPC ? 
    Communal areas? 
    Double glazing, Fire safety etc
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.