Is this a good idea or a bad idea? - Action against property management company

Vim Fuego

I live in an apartment complex and the management company have seriously taken their eye off the ball when it comes to maintaining the grounds, repairing things and enforcing the house rules. I was thinking of sending a letter to each tenant in the place reminding them that we have the right to replace the property company at an EGM and that we should demand the full service we deserve for the insane amount of money we pay them each year. I was planning to keep it anonymous and cc the head of the property management crowd, might inspire a bit of debate at least!

What do you think?

The_Conductor

Vim Fuego wrote: »

I live in an apartment complex and the management company have seriously taken their eye off the ball when it comes to maintaining the grounds, repairing things and enforcing the house rules. I was thinking of sending a letter to each tenant in the place reminding them that we have the right to replace the property company at an EGM and that we should demand the full service we deserve for the insane amount of money we pay them each year. I was planning to keep it anonymous and cc the head of the property management crowd, might inspire a bit of debate at least!

What do you think?

Tenants have no rights vis-a-vis the management company- those rights reside with the shareholders- aka the owners of the units.

To be honest- in the current climate- people are voting with their wallets- and the very minimum amount necessary to keep things ticking over. People have very limited interest in investing in complexes- where they see that they are spending good money after bad, on a falling asset price. This is particularly galling for the owner occuppiers- however in general they tend to be in the minority (unfortunately).

Ignoring an EGM altogether- the management company are legally obliged to hold a properly constituted annual AGM. Shareholders are supposed to be notified well in advance of this AGM, and have the right to table motions etc.

I think it would be far more productive to take photographs, document the shortcomings that you are noting, and when you have everything properly documented, bring it to the AGM with copies for all those shareholders who attend.

Note: the downside of this is that you may be invited to liaise with the management agent yourself to rectify your issues- which will be a exercise in frustration in itself.

Personally- I don't see any merit whatsoever in hiding behind anonymous letters- if you feel strongly enough about something- exercise the strength of your convictions and put your name to the letter. Its very easy to dismiss/ignore anonymous missives as the ramblings of a random discontent.

kathy2

Turn of at the AGM get on the committee

We changed mannagement company all you need is to get a few quotes from others and vote on it and bobs your uncle.

If you were willing to do it yourself put in a quote yourself

mikemac

Vim Fuego wrote: »

I was thinking of sending a letter to each tenant ...

Tenants can't do anything here, it's the property owners you need to go to!
And anyway, an anonymous letter shows somebody who won't stand over what they believe in. If you sent me that letter it'd go straight in the bin as you haven't taken it seriously so why should anyone else care?

Write your letter, put your name to it and many people will defer to you to make the decision at the next meeting.
But remember, who ever you decide to bring better be good value and cheap. The other residents won't be happy if you start proposing landscaped gardens and other expensive projects.

Vim Fuego

I am one of the shareholders and from what I can gather, there's a good mix of renters vs owners actually living here so it could have some impact (small development - approx 40 units). It also mentions for renters to forward on a copy to their landlord.

I just figured that given that we do pay crazy money to the management company, we should at least be expecting them to do what they are contracted to do. Not looking for anything stupid here, just for the Prop Company to fulfill their contractual obligations.

The purpose of this is to make them aware that their lack of effort has been well noticed (I would also be sending it the MD of that company). The tone of the letter is quite positive (not bitchy) and more about voicing our concerns to the property managers to make the place a nicer one to live for all of us. Pie in the sky stuff I know...

I was also thinking I would set up a simple online blog where residents could voice their concerns anonymously so that we would have some sort of living document, and the management company could use this to communicate with residents if it took off. I'm well aware that the chances of this are minimal but it only takes me 5 minutes to set up so worth a shot.

I'll think about sticking my name on it, I'm just afraid that some residents will get the wrong end of the stick and I'll look an anal-retentive fusspot or something but f**k it I suppose, if no-one else is willing to take a stand.

Cheers for the replies folks.

otwb

Couple of points here:-

Management company are made up of all the owners in the complex - decisions are made by the Directors who are more than likely volunteer members of the management company and are voted in at the AGM.

Management agents are hired by the management company to take on the day to day running of the complex. (see the volunteer reference above.

The company, through the directors, set and approve the budget each year. You should have a copy of this and a set of accounts from the previous years - these should be circulated at the AGM.

I know that in my own case the management company are struggling to get all the annual fees in from owners, this means that there is not enough money to pay for all the items budgeted for - leading to gardens that need attention and a dangerously low sink fund.

If you don't like what's going on in your complex then I suggest that you need to volunteer for the Board of Directors - this way you will have a say in the budgeting and running of the complex.

what2do

otwb wrote: »

Couple of points here:-

Management company are made up of all the owners in the complex - decisions are made by the Directors who are more than likely volunteer members of the management company and are voted in at the AGM.

Management agents are hired by the management company to take on the day to day running of the complex. (see the volunteer reference above.

The company, through the directors, set and approve the budget each year. You should have a copy of this and a set of accounts from the previous years - these should be circulated at the AGM.

I know that in my own case the management company are struggling to get all the annual fees in from owners, this means that there is not enough money to pay for all the items budgeted for - leading to gardens that need attention and a dangerously low sink fund.

If you don't like what's going on in your complex then I suggest that you need to volunteer for the Board of Directors - this way you will have a say in the budgeting and running of the complex.

Good point this - If you want to make a difference you need to become involved. Its a thanks free job and I'm sure whoever in your development is involved does not advertise what they do as you may be opening yourself up to direct complaints from residents. The MGt agents are paid a good fee to deal with complaints.


First port of call is the AGM and that will give you an indication as to how things are being run and perhaps help you decide what to do