Management Fees Cork

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Little Miss!

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Morning all,

I've been hanging around this forum for the last while but this is my first time to post (sorry if it turns out to be quite a long one!) Also hope i'm posting in the right place!

So here goes.... after weeks of trying to get a breakdown of my management fees i have at last got it this morning and what a humorous read it is!! I just had to post to get some opinions on this.

So firstly we have the landscaping which apparently costs €18,000 per year, must be the best paid gardener ever, the grass around the apartment buildings has been cut no more than 3 times this year. And as the weather is getting worse now i doubt it'll be cut for the rest of the year! Should this really cost €18,000?? Keeping in mind it's often left to grow out of control and is mostly above knee height!

And of course the managing agent fee of €22,500, isn't he well paid for only 1 development!!

Sorry if i'm ranting but these con-artists charge crazy yearly rates and carry out none of the work they should do it makes me so crazy!! The lights internally are mostly out in my block which by the way we're paying over €2,000 per year for the upkeep!

Which leads me to ths question..... how many managing agents does it take to change a light-bulb??!!! I'm still trying to come up with an answer but obviously more than the useless piece of work that's supposed to manage our place....

Has anyone ever had any success dealing with this pointless, useless people? Any input here is welcome. Thanks for reading my little rant ;)
 
How many apartments are there in total? I am a landlord of a small block of apartments around the twenty mark. My fees for this year are around 850 euros.The landscaping for us is 1850 for the year in TOTAL for the whole lot of apartments and gets divided accordingly between owners.Management fees in total are 2360. The whole lot including cleaing,sinking fund,insurance,refuse,lighting,repairs etc etc is 20000 which when divided between apartments is 850 approx. Depending on how many apartments that there are and how much green space there is your fees seem a bit excessive.18000 for landscaping is madness! I would defenitely query it. Good luck!
 
Thanks for the advice!

Just called to get a copy of last years accounts and low and behold the accounts are with the auditors! Received a copy of 2006 accounts which states, landscaping cost €2,610 in 2006 and €7,500 in 2005.

My question now is, if the company have estimated the cost for this year at €18,000 and we have been charged on the basis of this, where does the rest of the money go?? Why estimate so high when 2 previous years landscaping has never cost this much??

Can anyone shed any light on this for me please?
 
How old is the development? Are they still doing the green areas with trees shrubs etc? It seems a very big jump on previous years.Unless they ere doing some major work it should just be maintainance at this stage, grass cutting etc.I would defenitely not pay until a reasonable answer is given to you. I know that I wouldn't!
 
The development is about 5 years old, landscaping is finished. The only thing they must to is cut the grass, which as mentioned before has only been cut definitely no more than 3 time this year!

Reckon it's a little much alright i might just give them a call regarding the overly high estimate for this year.

Thanks again for all the advice anything help ;)
 
How many apartments are there? This will help calculate if you're getting value for money from the agent (although it sounds like you're not).

Have you changed agents recently? Perhaps this will account for the increase in landscaping fees, also check who does it. Is it the agency staff or a third party.

I suggest you attend your next AGM and question each and every expense listed including the agents fees which will have been approved by your Directors but as an owner you are entitled to know what you are being charged for.

Added bit: I'm a Management Agent
 
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