jcm said:
I live in Ticknock Hill, Sandyford D18 and we have just been told our management fees are going up to 2,500 pa. Can I ask what everyone elses management fees are in apartments and is there anybody out there who is happy with the service their management company provides? If so could we have their name.
Thanks very much
As always, it is important to to draw attention to the fact that the management
company is comprised of the property owners, who appoint an
agent to manage the development on their behalf.
So what you really want to know is are peope happy with their managing
agent?
The budget (and fees for the forthcoming year) is set by the agent, generally after approval with the management company's directors (a number of owners should ideally be directors at this stage????)
Have you got a breakdown of the fee? It sounds high, but you will only be able to draw meaningful comparisons with others if you provide more detail.
The major costs are generally block insurance, waste disposal and the agent fee. Obviously if the agent fee has increased sharply this should be queried with them. Waste disposal and insurance costs are largely outside their control, but they should be 'shopping around' on your behalf.
It is worth pointing out that if the developer still has
de facto control of the development it may not be possible to change agents.
Our fees (Portmarnock apartment development) have been around €1,400 for the past 2 years. Our managing agent is Wyse, and we/I have generally been happy with their service.