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Management fees, how it's worked out, help.

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  • 30-08-2009 11:36am
    #1
    podge018
    Registered Users Posts: 1,817 ✭✭✭


    Does anybody know about the process involved in working out what the management company charge each unit?

    I have their budget proposal here in front of me and was wondering if they under-count the amount of my type of properties in the development does that mean I am being charged too much or too little?

    i.e., they use that number to multiply or divide by?


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    #2
    pinkypinky
    Moderators, Society & Culture Moderators Posts: 6,648 Mod ✭✭✭✭pinkypinky


    It varies from building to building. Some base their fees on square footage, others do a more basic: 1 bedrooms pay this much, 2 beds pay this much.

    Genealogy Forum Mod



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    #3
    markpb
    Registered Users Posts: 9,304 ✭✭✭markpb


    Check your lease agreement, it has to tell you how your share is calculated. There are three main ways:

    - a quantity surveyor will determine your percentage liability. You pay that percentage of the total budgeted costs of the year

    - you pay a percentage based on floor size or the number of bedrooms in your apartment

    - you pay a share based on the type of apartment (apartment in block, own door, duplex, etc)


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    #4
    Victor
    Registered Users Posts: 78,387 ✭✭✭✭Victor


    podge018 wrote: »
    I have their budget proposal here in front of me and was wondering if they under-count the amount of my type of properties in the development does that mean I am being charged too much or too little?
    It would, in theory, result in an overcharge. You need them to confirm their figures.

    It may be down to the builder not having sold some of the properties and therefore isn't paying or is paying a reduced rate.


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    #5
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,215 Mod ✭✭✭✭godtabh


    markpb wrote: »
    Check your lease agreement, it has to tell you how your share is calculated. There are three main ways:

    - a quantity surveyor will determine your percentage liability. You pay that percentage of the total budgeted costs of the year

    - you pay a percentage based on floor size or the number of bedrooms in your apartment

    - you pay a share based on the type of apartment (apartment in block, own door, duplex, etc)

    also add thinks like lifts usage etc


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    #6
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    In some developments- there is no diffrentiation between the different unit types- so an apartment may be the same as a duplex, and those with parking may be the same as those without.

    You need to get a copy of your original lease and check exactly how its calculated in your own case- we are only playing guessing games here.......


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