average management fees - apartments ?

We have 14 apartments at the moment in Dublin.
1 beds - Average €800 per year
2 beds - Average €1100 per year

Some have been outrageous but we have got one of us onto the management committees of the troublesome ones and asked them to justify the charge for each different unit in the complex. Then submitted to reduce the charges based on certain criteria.

Never failed yet to get a few hundred knocked off the annual charge once on the committee.

Usually if you cant get a breakdown and justified formula for these charges you're being taken for a ride. Get one.
 
gabbo said:
Beaumont Woods, 2450. 2 bed. Outrageous.
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You need to get on the committee. You are being robbed. Ask for detailed breakdown of charges and definitely get copies of invoices (this is very important) so that you can see what work is being done for the money. I bet most of the invoices come from companies owned by family or friends of the management agent.

Once you get invoices you should be able to see what work was done or was "said" to have been done. You can then compile a report and pass it out at the next meeting. Even pass it through peoples letterboxes. And tell the agents that unles they get in line, you will be passing this report on to the newspapers and the police. Thats always got the fees down for me.
 
summerseat clonee co meath

2/3/4 bed houses 600 per year

2 bed apts
3 bed duplexs (own door, no lifts) 600 to 955 euro (depending on size)
 
I posted in this tread back in 2009, quoting a fee of €800.00.

I have just paid my 2011/2012 fee, €660.00, last year was similar.

Are others seeing reductions ?
 

You get a detailed breakdown of all the charges with your copy of the audited accounts every year!!! These are independently verified by auditors who go through each invoice, the accounts are then sent to the directors of the company (who are owners) and they sign them off. They are also presented and discussed at the AGM of all memebers which you are given 3 weeks notice of!!

The problem is in apartment living is that the people who live in apartments take on a totally different attitude to one they would take in their own homes. As soon as a light bulb goes or a bin overflows they cant wait to ring the managing agents to get a contractor out to fix it. They then ring the managing agent wondering why the repairs and maintenance figure is so high even though they were the very same people who caused the high figure in the first place!!!!!
 
Management Fee Cork City

Hi there, i am buying an apt and the management fee I am supposed to take on is around 1600 euros. This building has no lift, tiny common areas and no garden. Waste disposal is not done by the mangmt company. I don't get it..I know it's Cork city centre but for such a small building, this seems too high to me...Does anyone pay such fees? My fear is that besides being financially challenging, i will never be able to resell the apt shall I ever need to! Thanks!
 
Ask for a copy of the accounts for last year so you can see where the money is spent. If you think it's too expensive and might cause you problems, don't complete the sale. Don't buy if you're not 100% sure you can pay - you'll only end up in court.
 
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