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Fees for Management AND Head Landlord - same company and doing nothing for the tenants.


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Hi - I bought a flat - one in a block of around forty fairly average ones - in Leeds. I and many other residents feel that our Property Management agency are ripping us off on a number of counts and we are researching this matter. Whilst researching we found that we are paying six and a half grand a year for Management Fees (to people who really aren't doing anything) and 4 grand a year as a Head Landlord Service Charge. Considering both amounts are going to the same company we feel a little resentful.

 

Can anyone shed light on why two payments are necessary and if they seem reasonable?

 

Thanks!

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