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Querying Management Fees for Property You Don't Own

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    #32
    dubrov
    Registered Users Posts: 3,572 ✭✭✭dubrov


    Property tax is technically charged to the owner on November 1st each year.
    However the norm is that is it shared pro-rata where a property is sold.

    So, it doesn't matter what the lease says as most buyers will insist on a fair apportionment of fees.
    If the seller insists, the buyer would just factor it into the price and potentially walk away.


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    #33
    Lantus
    Registered Users Posts: 3,027 ✭✭✭Lantus


    dubrov wrote:
    Property tax is technically charged to the owner on November 1st each year. However the norm is that is it shared pro-rata where a property is sold.


    Aside from bins there is no taxable element in service fees. And actually it does matter what the lease says.


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    #34
    dubrov
    Registered Users Posts: 3,572 ✭✭✭dubrov


    Lantus wrote: »
    Aside from bins there is no taxable element in service fees. And actually it does matter what the lease says.

    I am not sure why you are referring to taxable elements in service fees.

    The lease certainly does matter but the clause relating to liability for the management fee on sale of a property generally has no material impact in reality.


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