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Property management fees

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  • 04-04-2012 2:08pm
    #1
    headsy
    Closed Accounts Posts: 31 ✭


    Just bought a 2 bed apartment in Dublin. There is a tenant in the apartment long term. I spoke with the guy responsible for managing the apartments (10 in the complex in total) and he told me that the fees are €200 a month.

    Seems extraordinarily high for such as small complex.

    Whats the average?

    Do i have to pay whatever he says the fees are?


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


    What is being provided for this fee?

    I assume this is just to manage your apt, rather than it being the management fee, as part of the development management company?


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    #3
    silja
    Registered Users Posts: 2,921 ✭✭✭silja


    You need to find out exactly is being provided for this fee. It does seem high, if it is just the property management fee, but it may include dealing with tenant's concerns etc?


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    #4
    pawnacide
    Closed Accounts Posts: 228 ✭✭pawnacide


    Just wondering why you only found out now what the management fees are ?


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    #5
    killers1
    Registered Users Posts: 1,443 ✭✭✭killers1


    pawnacide wrote: »
    Just wondering why you only found out now what the management fees are ?

    +1 to this. Your solicitor should have informed you of the level of management fees you would have to pay yearly prior to completing the purchase. Generally, the management fees cover the block insurance policy, rubbish collection, upkeep & maintenance of the apartment block and common areas. Block insurance can be expensive so if the cost is covered by a smaller number of units you'll each have to pay a higher percentage. Also it's probably an external management company running the complex and their profit is factored into the fees. Sounds on the high side but not exorbitantly so for a complex in Dublin...


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    #6
    Del2005
    Registered Users Posts: 18,988 ✭✭✭✭Del2005


    headsy wrote: »
    Just bought a 2 bed apartment in Dublin. There is a tenant in the apartment long term. I spoke with the guy responsible for managing the apartments (10 in the complex in total) and he told me that the fees are €200 a month.

    Seems extraordinarily high for such as small complex.

    Whats the average?

    Do i have to pay whatever he says the fees are?

    When I was looking at apartments the 1st question I asked the estate agent was how much where the management fees. How did you go through the whole buying process without asking?

    Let me guess. The complex has an underground car park, electric gates, elevator and secure entry. All these things cost money and add hugely to the fee


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