Paying for managment company

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meepman

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I live in a small cul de sac of 3 houses.
When i originally purchased the house we were not to know that the builder was washing his hands of the management of the shared land between the 3 houses.
We were then told by his solicitor that as residents we would have to start up a mangement company and then send in a yearly account to the state. This is where the accountant fee comes in.

Now, I have enquired with the council and they say that for the land to become their responsibility they have to wait until the builder says so(not sure about this exactly)

So at the moment, between the 3 houses we have to pay an accountant to provide the legal service for the management company.

This doesn't seem correct to me and with extra property taxes and water charges it is becoming an unbearable annual charge.

Can anyone advise?
 
meepman said:
I live in a small cul de sac of 3 houses.
When i originally purchased the house we were not to know that the builder was washing his hands of the management of the shared land between the 3 houses.
We were then told by his solicitor that as residents we would have to start up a mangement company and then send in a yearly account to the state. This is where the accountant fee comes in.

Now, I have enquired with the council and they say that for the land to become their responsibility they have to wait until the builder says so(not sure about this exactly)

So at the moment, between the 3 houses we have to pay an accountant to provide the legal service for the management company.

This doesn't seem correct to me and with extra property taxes and water charges it is becoming an unbearable annual charge.

Can anyone advise?
Click to expand...

You cannot start an OMC (owners management company.) once houses exists and have ben bought. It either exists already or it does not. You need to clarify that fact first. A company to manage 3 houses seems a little odd. You need to get the planning file from the local authority and see what it says along with your lease which you signed when you purchased the house.
 
We did indeed start a management comnpany after we purchased the house.

The builder originally owned the shared land and we received a letter from his solicitor stating that he had no more interest and that legally we would have to start up a company, until the land transfer to the council came through.
I'm not sure when or if this will ever happen.
So we are basically paying for an annual return for nothing!
 
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