Who else would pay it? Someone who isn't benefitting from it?[broken link removed]
Seems mad that the 6 house owners have to pay the management fee. I know its becoming more normal but still mad.
€800 annual fee is the equivalent to €80,000 extra on the purchase price. That's the way people should think about it. I think people should avoid houses with management's charges where possible (and consequently avoid common areas that can't be taken over by the council.)It looks like there are common areas, like the underground carpark, an OMC seems like a good way to ensure these are properly maintained to me? Assuming the OMC is properly handed over to the owners, then this really shouldn’t be a big deal and the annual fee is likely to be very small.
[broken link removed]
Seems mad that the 6 house owners have to pay the management fee. I know its becoming more normal but still mad.
It is far from mad, these fees take care of insurance, common areas, grass cutting and disposal, cleaning of common areas etc, don't buy there if you don't like it but if you do then pay the charges, they keep values up for everyone in the development.
So the management charge is really a subsidy for the apartment owners as clearly they have genuine common areas eg halls, common roof, underground car park maintenance etc.
Essentially these are all apartments just some of them are rather large, multi-level apartments.
So the management charge is really a subsidy for the apartment owners as clearly they have genuine common areas eg halls, common roof, underground car park maintenance etc.
or have i missed something?
€800 annual fee is the equivalent to €80,000 extra on the purchase price.
Interesting, where are you getting that figure of €80,000 from. I think it is quite wrong.
No, not familiar. Just have a problem with the idea of management charges on "houses" and/or green areas.In the example above, are the underground spaces not used by the house owners?
Are you familiar with the development?
I did wonder if you had even seen them when you were talking about green areas...No, not familiar. Just have a problem with the idea of management charges on "houses" and/or green areas.
Apologies. You are correct.You'd need to lodge €80k in the bank earning 1% interest a year (and you cant even get that now) to pay the €800 management charge "forever."
when you buy the freehold you buy "forever"
So €800pa is equivalent to €80k extra on the property price. ie €700k plus €800pa is almost equivalent to €780k and no man charge.
when you buy the freehold you buy "forever"
I did wonder if you had even seen them when you were talking about green areas...
It's a really bad example to have a discussion about management fees on 'houses'. These share a roof area with the apartments. Common underground car park. All properties have an external storage unit. Shared outdoor lighting. Etc.
Have a look for a better example if you'd like a discussion.
you take on most maintenance costs with these houses with management charges too? I just don't like man charges ( as you can tell!).Yes, but on the flip-side, when you buy free-hold you also take on all maintenance costs.
you take on most maintenance costs with these houses with management charges too? I just don't like man charges ( as you can tell!).