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Residential management company fees incorrectly used
We live in a private road along with 17 other residents in recently built bungalows.
Sales of the properties started in 2018 when the developer formed a limited management company by installing two directors of the development company.
Each resident should pay £100/year to maintain the lawned area etc. and now, at the point of handing over the company to the residents, we should have approx £8000+ less bank and accountant charges for Companies House filing.
Land Registry problems and Covid resulted in only 60% of the fees being collected. No maintenance has been carried out so the residents have done this themselves.
Now the residents have seen the bank statements we realise £1684 has been paid to the developers solicitor for arranging the handover. We think this is the responsibility of the developer and not the residents in the day to day running of the company.
Any advice would be greatly appreciated.
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