Property Management Companies

ALFIET

Ok Situ is as follows:

Owner Occupier in Apartment Complex with mixed residential and businesses.

Property Management Company are USELESS!!!!!!

So we are setting up a Residents Association to try to move issues along

Any advise?

Also any experiences of Good Effecient Property Mngt Companies or is that just cloud cuckoo land stuff.

Thanks

markpb

Could you give us some more details about your apartment? When did you move in, is the building work complete, how many of the units are sold, is the developer still in charge of the management company, who are your managing agent, what specific problems have you been having?

PIMPHO

Well I'm in the same situation.

About 85 apartments, around 75 sold, builder has not handed over the common areas so still in charge, the secretary of mgt company is one of the developes. Mgt company saying that there is no sinking fund, haven't enough money to spend on cleaning windows yet they spend 5k on a few mats! I moved in last November and paid my fee in full but mgt company saying builder has not paid for unsold units, hence lack of funds. We had a meeting with them a few months ago and they had no type of accounts to show us what was spent and what wasn't spent, just plucking numbers out of the air. In the budget there is money set aside for security and window cleaning, none of which have been carried out but they could not say where the money for those 2 unused services had gone and said it was spent or used to cover another service?! WTF?!

We want CCTv cameras to be installed so they got a quote of 25k, I got exact same quote for 18k but they are saying they don't have enough cash to install cameras which is ridiculous! Also issues reagrding health and safety certificate as they have not obtained it from the builder. Total lack of accountability and transparency and everyone feels and knows that they are ripping us off but we don't know what we can do about it? Few people suggested we refuse to pay the mgt fee when it's due but I don't think that's a good idea, right?

Anyways any suggestions or advice would be greatly appreciated!

ALFIET

markpb wrote: »

Could you give us some more details about your apartment? When did you move in, is the building work complete, how many of the units are sold, is the developer still in charge of the management company, who are your managing agent, what specific problems have you been having?

OK without giving specifics as i dont wish to name and shame on this type of forum

Moved in 2005
Building work complete
all sold
yes to developer in charge of mngt company
Managin agent is registered managing agent with CRO but also a mate of the developer


Place is falling into disrepair. Some people have paid and some part paid for this year,
General upkeep not being done... in fact he is doing it himself and has been seen cutting grass etc yet wants to charge nearly 10k for a gardening service!!!! Get real,
Wont answer queries raised, issue receipts for payments received,
Wont deal with problematic renters int he complex who are engaged in severe anti social behaviour.
Given his unprofessionalism we are not even sure what he has paid for and not paid for such as building insurance.

ALFIET

markpb wrote: »

Could you give us some more details about your apartment? When did you move in, is the building work complete, how many of the units are sold, is the developer still in charge of the management company, who are your managing agent, what specific problems have you been having?

PIMPHO wrote: »

Well I'm in the same situation.

About 85 apartments, around 75 sold, builder has not handed over the common areas so still in charge, the secretary of mgt company is one of the developes. Mgt company saying that there is no sinking fund, haven't enough money to spend on cleaning windows yet they spend 5k on a few mats! I moved in last November and paid my fee in full but mgt company saying builder has not paid for unsold units, hence lack of funds. We had a meeting with them a few months ago and they had no type of accounts to show us what was spent and what wasn't spent, just plucking numbers out of the air. In the budget there is money set aside for security and window cleaning, none of which have been carried out but they could not say where the money for those 2 unused services had gone and said it was spent or used to cover another service?! WTF?!

We want CCTv cameras to be installed so they got a quote of 25k, I got exact same quote for 18k but they are saying they don't have enough cash to install cameras which is ridiculous! Also issues reagrding health and safety certificate as they have not obtained it from the builder. Total lack of accountability and transparency and everyone feels and knows that they are ripping us off but we don't know what we can do about it? Few people suggested we refuse to pay the mgt fee when it's due but I don't think that's a good idea, right?

Anyways any suggestions or advice would be greatly appreciated!

I checked legal situ about non payment and basically not recommended,
This is a breach of contract and thereby no leg to stand on to pursue him for his breaches of duties under the contract!

Maybe get together like we are as a Residents committee... an united voice is stronger than one voice...

You can vote to remove him and have him replaced although i am unsure of the mechanism to do so but this is an option.

markpb

ALFIET wrote: »

Maybe get together like we are as a Residents committee... an united voice is stronger than one voice...

Have a look at this article that we added to the Apartment Owners Network recently. It might be some help.

ALFIET wrote: »

You can vote to remove him and have him replaced although i am unsure of the mechanism to do so but this is an option.

Most developers give themselves so-called golden shares which entitle them to more votes than everyone else put together. If they won't stand down of their own accord, it can be very hard to make them. The easiest way to do it (although it's not always possible), it to go to every AGM and EGM they hold. Sometimes the developer or his appointed board of directors won't bother showing up and will only send the managing agent instead. If they do this, you can immediately vote them off the board and vote yourselves on in their place. If they're not there, it doesn't matter how many votes they have.

ALFIET wrote: »

I checked legal situ about non payment and basically not recommended, this is a breach of contract and thereby no leg to stand on to pursue him for his breaches of duties under the contract!

There's a thread on AskAboutMoney.com about this. It's a very grey area. Personally (and this galls me), I don't think there's any legal reason for the builder to pay service charges for un-sold units. It's the lease agreement that compels you to pay them and only owners sign them.

20goto10

ALFIET wrote: »

I checked legal situ about non payment and basically not recommended,
This is a breach of contract and thereby no leg to stand on to pursue him for his breaches of duties under the contract!

Maybe get together like we are as a Residents committee... an united voice is stronger than one voice...

You can vote to remove him and have him replaced although i am unsure of the mechanism to do so but this is an option.

Not paying your management fee is a breach of contract but you can take him to court and get your money back after you've paid. It can be done on an individual basis or you can all get together. And the fact that he has not kept any records of spending will mean he doesn't have a leg to stand on. It should be a quick court session. I'm not sure what happens after that, whether you have to pay again the next year and go to court all over again or whether the judge will do something about him.