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Managment company problems?

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  • 08-08-2011 10:34pm
    #1
    kingcharles82
    Registered Users Posts: 134 ✭✭


    has anyone else experienced problems with their managment company?i bought a duplex apt 5 years ago in newcastle co dublin, we have a managment company in charge of the estate and they do the usual cutting grass etc, the problem is the fees are changing every year, this year we are being charged nearly a thousand euro but last year it was 4 hundread, we havent paid for 2011 yet and now we are recieving solicitors letters saying we will be brought to court for non payment.
    last year we had a problem with a leak in the apt and the managment company said they would not fix it ubless it cost over 700 euro. then they told us they did not have enough money in their account to help us, so my point is should we pay when they really dont do anything for us and have always been extremely unhelpful


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    #2
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    You are part of the management company. You have powers as well as legal obligations (such as paying your fees).

    Do you attend your company AGM? Do you review the accounts?

    You should know where your money is going, and why the management fees change from year to year (as they do in most developments). The amount the vary by depends on what expenditure is planned by your management company.

    It's the management agent who hire subcontractors to cut the grass and do other such work.

    It is not uncommon for the excess on an insurance claim to be large (actually €700 is a low excess). In many developments, the excess is 5k.

    If you don't pay your fees, then the management company has a right to take you to court for non-payment of fees.

    You really need to understand how a management company works, and how you can help shape how it's run.


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    #3
    tHE vAGGABOND
    Registered Users Posts: 6,687 ✭✭✭tHE vAGGABOND


    It is not uncommon for the excess on an insurance claim to be large (actually €700 is a low excess). In many developments, the excess is 5k.
    Agreed - where I live our block insurance was going through the roof [a very large percentage of our annual budget gone on that, before a single thing done]. That was mainly because volume of small claims, so our excess is now pretty big too. [Idea is that after a couple of years without that problem, insurance should fall sharply].

    The large excess seems standard, around central Dublin anyway.


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