Management agency seeking money for fire safety remedial work

[nbc]

Hi guys
I have an apartment let and management agency asking for €18000 in 3 stages. So far I’ve not paid first and second now being asked for and threat of legal action etc
Ideally I’d like the government to pay them directly as I have a concern I won’t get all my money back from them down the line .is this a legitimate concern? Should I pay up?
Regards

NBC

 

[ClubMan]

Do you mean management agency or management company? If you own the property then you should be a member of the latter who may contact the former to handle day to day issues voted on by the management company members. You should check the management company general meeting minutes etc. on this issue as you may well be obligated to pay.

What government scheme is ultimately funding the work?

 

[nbc]

Do you mean management agency or management company? If you own the property then you should be a member of the latter who may contact the former to handle day to day issues voted on by the management company members. You should check the management company general meeting minutes etc. on this issue as you may well be obligated to pay.

What government scheme is ultimately funding the work?

Apologies - management company. I live in London so not involved. Last week the government announced a 2.5 billion euro scheme to make good shoddy work for properties built in Celtic tiger era etc

 

[lff12]

Hi guys
I have an apartment let and management agency asking for €18000 in 3 stages. So far I’ve not paid first and second now being asked for and threat of legal action etc
Ideally I’d like the government to pay them directly as I have a concern I won’t get all my money back from them down the line .is this a legitimate concern? Should I pay up?
Regards

NBC

There's probably a small risk of you not getting refunded in the event of a retrospective defects funding. But more likely, if you (and others like you) refuse to pay, the remediation cannot be done (contractors don't work for free), and the cost then escalates as inflation drives up prices. Then the OMC is at the mercy of its insurer who will hike up cost of insuring to cover their own risks, pushing your annual service charge higher and higher. Talk to your management company about when the work is to begin. Otherwise, if you don't pay, the cost will have to be deducted from sale price by your solicitor to compensate. At very least talk to your solicitor about it, and they might handle it on your behalf.
In the meantime, your property is being devalued because a buyer would be unlikely to be able to borrow against it, leaving you in "cash buyer only territory". At very least have a chat with your solicitor about it.