Management company demanding 13k

lawred2

dubrov wrote: »

You are getting bogged down in what is fair. Your lease will specify what proportion of the costs you will bear.
If it says a 1 bed pays 5 times what a 3 bed pays, then that is the contractual obligation

There is no lease here. The OP is an owner occupier.

dubrov

lawred2 wrote: »

There is no lease here. The OP is an owner occupier.

You still sign a lease if it is a managed development.
It is basically a contract that outlines your obligations in the development as a member of the management company

CIARAN_BOYLE

lawred2 wrote: »

There is no lease here. The OP is an owner occupier.

Owner is a leaseholder who owns an apartment in a managed development.

L1011

lawred2 wrote: »

There is no lease here. The OP is an owner occupier.

They're a leaseholder on an apartment. They have a likely 999 year lease on it.

lawred2

L1011 wrote: »

They're a leaseholder on an apartment. They have a likely 999 year lease on it.

stand corrected then

is that a standard process? I know I wouldn't touch anything with a leasehold.

Blackjack

OP how did you get on with getting the council to pay for the Boiler repairs you had 18 months after you bought the place?

CIARAN_BOYLE

lawred2 wrote: »

stand corrected then

is that a standard process? I know I wouldn't touch anything with a leasehold.

Almost every single apartment is a leasehold because you cant all own the land the apartment is standing on.

Ownership of the building and land sits in a management company (the owners own the management company and have long term leases on their apartment).

SozBbz

lawred2 wrote: »

stand corrected then

is that a standard process? I know I wouldn't touch anything with a leasehold.

Absolutely standard.

I guess you'll never be buying an apartment then.

lawred2

SozBbz wrote: »

Absolutely standard.

I guess you'll never be buying an apartment then.

correct...

Caranica

dubrov wrote: »

You are getting bogged down in what is fair. Your lease will specify what proportion of the costs you will bear.
If it says a 1 bed pays 5 times what a 3 bed pays, then that is the contractual obligation

Not necessarily. My lease says I pay a percentage of the development budget as management fees.

Nowhere does it mention any apportionment of emergency levies, these are in addition to the development budget.

People are fixating on who benefits from the works rather than looking at it as a member of a management company. That company owns all the buildings. My block (A) might not need emergency works but that doesn't mean that I don't have a responsible interest in block C that might. You are liable as a member of the management company.

cryptocurrency

This looks like a gold rush since the annonuced the redress scheme. Going around looking for issues so they can fatten up a claim. You are fighting a losing battle if you live in the block as the landlords will want to get their head into the trough to enhance their investments and pass their contributions to the accountant to make go away.

This is why I would never recomend buying an apartment. Most of the owner mangament companies are made up of landlords and those who have a totally differetn agenda to living lives.

"Majority Rules is how they will hide when confronted, we are just following the multi unit act"

My advise is look at selling and never buy an apartment again. It attracts the wrong sorts.

Dav010

https://www.boards.ie/discussion/comment/121884836#Comment_121884836

Thread is 4 yrs old,

kozak

Similar situation - management company requires 8-9 K levy for Fire remedial work. Apparently work doesn't fall under remit of recently announced government remedial scheme, not sure why. Any advice or experience?

Estate is big, few hundred apartments built around 2001-2005. Original developer still in business, but fire protection issues are related to stricter POST-completion fire regulations.

Thanks

Allinall

https://www.boards.ie/discussion/comment/121900792#Comment_121900792

Is there no sinking fund? That’s what should be paying for the works.

You should enquire if there ever was one, and if there was, what happened to it.

mickdw

Apartments are a disaster from start to finish.

You buy it yet you have little to no control over it.

Roof repairs needed in your house, you decide when and how it gets sorted.

Same needed in apartment and you get a demand.

Wouldn't touch one at any price.

Dav010

https://www.boards.ie/discussion/comment/121900830#Comment_121900830

It cuts the other way as well, costs are shared in a MUD and if council takes charge of the estate, they look after their parts. If you can’t afford to fix your roof, you have to put up with it until you can. There are advantages to both individual and shared ownership.

I lived in my own apartment for 5 yrs, outside of management fees and utilities, I had no costs, when I bought my first house, the costs seemed to be never ending until I got it the way I wanted it which took years.

kozak

https://www.boards.ie/discussion/comment/121900830#Comment_121900830

If memory serves mica issue impacted mainly houses

kozak

https://www.boards.ie/discussion/comment/121900815#Comment_121900815

Recently AGM decided to change management company. New management reckons that old management neglected sinking fund in order to avoid management fee increase. Audit confirmed this so unfortunately sinking fund is not a solution

Dav010

https://www.boards.ie/discussion/comment/121902162#Comment_121902162

Changed managing agent, owners are the management company. The sinking fund is a legal obligation, even if it was ignored, owners are required to pay it. It would seem you are now having to pay what you would have had to pay into that sinking fund in order to pay for repairs.

You should discuss the lack of sinking fund with the BOD, they are also responsible if it wasn’t kept up to date, and, the owners must take some responsibility for not questioning this at the AGM’s.

kozak

https://www.boards.ie/discussion/comment/121902235#Comment_121902235

Surely sinking fund must be maintained. My question though about responsibility of the developer - construction company is still in business so probably could contribute to fire remedial work. Any views or experiences on this?

Dav010

https://www.boards.ie/discussion/comment/121909198#Comment_121909198

If the build met regulations at the time of construction, it’s hard to see how developer could be retrospectively responsible for property meeting new regulations. I suspect they will argue that they met specifications required at the time the property was built.

Yes, the sinking fund must be maintained. You should contact the Board of Directors of your OMC and find out why it wasn’t. But that will not change the fact that you will still be obligated to pay whatever should be in that sinking fund as a member of the OMC. If you recently bought the property and the sinking fund wasn’t being paid into by the previous owner of your unit, you should discuss with your solicitor about why this wasn’t brought to your attention when the info was received from the OMC during the purchase. If you have owned the property since the MUD Act was enacted in 2011, then it should have been clear at the AGMs that the sinking fund payment was not being included in your yearly management fees.