Jump to content


Ridiculous Management Charge Increase - Urgent Advice Needed Please!!


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4797 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hello,

 

I'd be much obliged for any adivce to this huge problem.

 

I live in a new housing developement of some 255 apartments. The issue is that we're (most of us) ending year 1 of ownership post completion and the management company - Andrews, have increased the charge by 55%!!!

 

It's obvious what has happened, the charges were deliberatley 'under-estimated' to coerse people into buying and now that most are sold the real costs are appearing for much of the development. i.e. videphone entry maintenenace increasing from about £300/year to £7000!!!! There is too much to mention in here - but lets just say, costs such as this and many others in question could not be misjudged with such a margin of error by accident.

 

To give you an idea - the average cost per apartment has increased from average £1000 per year to £1500 per year!!! some from £1200 - £1900!!!

 

Andrews have set-up a separate company to manage the development, put 4 directors on it - apparently because there is a tesco metro on the overall site it had to be done like this, and apparently we have no rights to remove this 'mini-company' that Andrews have set-up.

 

any help much appreciated..

 

Pijjin

Link to post
Share on other sites

Can you check the terms of your agreement. For a place I nearly bought, the fees were fixed for 10 years, and rises beyond then were limited.

 

Also if you club together with as many neighbours as possible you should be able to get some legal advice.

Link to post
Share on other sites

year 1 is just an estimate and they have to wait for full accounts etc.... they're allowed to increase their charge by the retail price index.... but even this has gone from £45k to £60k - in 1 year! they're saying they are allowed to go back to when they made the original quote in 2005 before developement was finished..... which is nonsense,and still doesn't stack. But their £60k fee is part of the overall charge of about £420k!!! you know much about RTM (right to manage)? just heard about it.... cheers, pijjin

Link to post
Share on other sites

No I'm not knowledgable about the rules apart from a vague understanding that managing a development is often considered to be a license to print money!

 

You need to carefully read what you signed up to. Surely there must be at least one solicitor out of 255 apartments who could help out!

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...