Anyone in the know about leasehold/estate management?
Discussion
Can you cast your eye over this and see if it seems reasonable?
My building is getting fecked over royally on the Buildings Insurance side and some of the costs quoted in this document don't sound terribly reasonable either...
https://attachment.fbsbx.com/file_download.php?id=...
My building is getting fecked over royally on the Buildings Insurance side and some of the costs quoted in this document don't sound terribly reasonable either...
https://attachment.fbsbx.com/file_download.php?id=...
£846 per flat? Sounds about right.
My block is 18 flats (5 owner occupied / 13 rented, 2 blocks of 2/3 floors) at £850-925 yearly in Stafford, estate management Birmingham based so most trades incur travel expenses.
We have a right to manage formed to get rid of the last lot who did nothing and just upped charges, I'm told £10,000's missing from a sink fund built over 3/4 years with fraudulent accounts submitted to company house and being brought out by a major. The current estate management company who have been in since I purchased are keeping costs down but playing catch up from the last lot.
We've finally got itemised accounts to see all costs but nothing went into sink fund due to a major building repair.
Last year;
Grounds £658
Cleaning £1100
Insurance £2382
Repairs & Works £4659 (elec gates, fly-tipping, brickwork, light bulbs, some painting and elec testing)
Major Repairs £2785 (1/6th block roof repair, hired equipment, door keypads and two communal doors replaced)
Legal £134
Electric £581
Management Fees £3485
Company Fees £420
Accountancy Fees £450
Sink Fund £0
The last annual AGM just 3 owners attended but we've been told they'll use local trades, fit bulbs LED, shop for insurance renewal, alter gate motors etc to reduce costs. Many of these yet to happen but hoping they do as we've finally got window + gutters cleaned. We've no money to do a full repaint the block needs (8 year old build in dire need of TLC) or new flat doors (mine is literally falling to bits) due to what the last company did. As none of the other owners care it's tough to get anything agreed so we postpone in hope of no major works in coming year.
My block is 18 flats (5 owner occupied / 13 rented, 2 blocks of 2/3 floors) at £850-925 yearly in Stafford, estate management Birmingham based so most trades incur travel expenses.
We have a right to manage formed to get rid of the last lot who did nothing and just upped charges, I'm told £10,000's missing from a sink fund built over 3/4 years with fraudulent accounts submitted to company house and being brought out by a major. The current estate management company who have been in since I purchased are keeping costs down but playing catch up from the last lot.
We've finally got itemised accounts to see all costs but nothing went into sink fund due to a major building repair.
Last year;
Grounds £658
Cleaning £1100
Insurance £2382
Repairs & Works £4659 (elec gates, fly-tipping, brickwork, light bulbs, some painting and elec testing)
Major Repairs £2785 (1/6th block roof repair, hired equipment, door keypads and two communal doors replaced)
Legal £134
Electric £581
Management Fees £3485
Company Fees £420
Accountancy Fees £450
Sink Fund £0
The last annual AGM just 3 owners attended but we've been told they'll use local trades, fit bulbs LED, shop for insurance renewal, alter gate motors etc to reduce costs. Many of these yet to happen but hoping they do as we've finally got window + gutters cleaned. We've no money to do a full repaint the block needs (8 year old build in dire need of TLC) or new flat doors (mine is literally falling to bits) due to what the last company did. As none of the other owners care it's tough to get anything agreed so we postpone in hope of no major works in coming year.
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