Property Management Fees Dublin (North Side)

Cardinal Sin

Hi Everyone,

I am looking for some help to figure out if our management fees are excessive. We live in a 3 bed duplex in a relatively new property development (less than 10 years old). The fees are €1,117 p.a.

Can anyone share fee details for comparison purposes.

Any help greatly appreciated.

Cardinal S.

Paulw

It will depend on - the number of units in your development, the size of your development, the features of your development, the functions within your development.

You can't directly compare developments and fees.

Cardinal Sin

There are 112 units

4 x 1 bed
46 x 2 bed
48 x 3 bed
12 x Corner units
2 x 4 bed

There is a small green area, electronic gated entrance and underground parking.

Just looking for a ball park figure for other properties.

Paulw

Sounds exactly like where I live.

Fees are good, considering the facilities.

Have you reviewed the accounts/budget that is sent out every year, and have you questioned the fees at any AGM?

Cardinal Sin

Forgot to mention that the agent fee is 18.2% of the overall cost of managing the properties.

Paulw

You would have more success if you raised your questions at your management company AGM, or write to the board of directors of your management company.

markpb

Cardinal Sin wrote: »

There are 112 units. There is a small green area, electronic gated entrance and underground parking. Just looking for a ball park figure for other properties.

As Paul says, you can't really compare charges because the little things make such a big difference. Underground car parks (+ pumps) push up the price. Gates on the entrance or car parks push up the price. Lifts can be black holes for money.

Compared to my own place, you are paying several hundred euro less than an owner of a similar apartment.

T11

Cardinal Sin wrote: »

Forgot to mention that the agent fee is 18.2% of the overall cost of managing the properties.

NEVER employ a managing agent that takes a % of the overall cost.....where is the incentive to negotiate cheaper service contracts for you and your neighbours.
There's a lot of gangsters in the PM business and thats just one way of milking extra cash out of your development.

Paulw

T11 wrote: »

NEVER employ a managing agent that takes a % of the overall cost.

I think the OP was doing his own calculation to work out the %, rather than the management agent fee being a set % (which it can't be anyway).

Our management agent fee has decreased over the last few years, but it still a fair percentage of the overall fee, due to the fact that they do all the day to day running, making life easier on the directors.

athtrasna

You have had good advice here but to me those fees sound reasonable. The AGM is the place for you to seek more detailed information on fee calculations for your own development.