MUD Act Fee by Management Company

somesoldiers

Hi

Does anyone know what is the standard charge for this? I have just been told by my solicitor that our current management company want e307.50 in order to provide this. This seems extortionate!

We have always paid our full fees though many in the estate have not but we were never planning on staying there very long

Thanks

Noel

blacklilly

somesoldiers wrote: »

Hi

Does anyone know what is the standard charge for this? I have just been told by my solicitor that our current management company want e307.50 in order to provide this. This seems extortionate!

We have always paid our full fees though many in the estate have not but we were never planning on staying there very long

Thanks

Noel

I take it you mean pre contract enquiries ?

I've seen agents charges anywhere from €100 to €250 for these.

Paying your service charge on time etc has absolutely no relevance to this fee.
It is charge which the managing agents (in most cases) apply for answering queries pertaining to the MUD.

Edit: Just re-read your post and on second reading, I think you may be referring to the contribution to the sinking fund? Can you clarify?

somesoldiers

blacklilly wrote: »

I take it you mean pre contract enquiries ?

I've seen agents charges anywhere from €100 to €250 for these.

Paying your service charge on time etc has absolutely no relevance to this fee.
It is charge which the managing agents (in most cases) apply for answering queries pertaining to the MUD.

Edit: Just re-read your post and on second reading, I think you may be referring to the contribution to the sinking fund? Can you clarify?

Thanks BlackLilly, yes I am talking about the queries relating to the MUD. I know that keeping up with management fees has no bearing on what this might cost but prior research had indicated to me that the fee would be 150-200 alright but not over 300.

Just another rip off, sure why would I expect anything else I suppose

Paulw

I've no idea what you are talking about, but I think you need to remember that if you own a unit then you ARE the management company, or at least a member. You have a vote on what is done and how much the fees are. This is decided at your AGM.

What exactly are they saying is €307.50?

somesoldiers

Documents required by my solicitor from the management company in order to process the sale of my property

Paulw

somesoldiers wrote: »

Documents required by my solicitor from the management company in order to process the sale of my property

Well, a company is entitled to charge for any documentation or work that is not part of their normal duties. The charge will vary depending on the amount of work involved.

I couldn't comment on specifics since I don't know how your management company works, but closing out fees and such are not unusual. Of course, most sellers recover these costs from the sale of their property, so they factor them in to the sales price of their property.

Kelly06

Paulw wrote: »

Well, a company is entitled to charge for any documentation or work that is not part of their normal duties. The charge will vary depending on the amount of work involved.

I couldn't comment on specifics since I don't know how your management company works, but closing out fees and such are not unusual. Of course, most sellers recover these costs from the sale of their property, so they factor them in to the sales price of their property.

It's the fee for the management agent to reply to the pre contract mud enquiries raised by the purchasers solicitor. Your obviously being charged 250 plus VAT. Which is in the region one of the posters above quoted. Ye can't sell an apartment without replying to these enquiries unfortunately.

sbs2010

Hi,

I find my self in a similar position - I'm being charged €330.
I've no idea if this is a reasonable amount as I don't know how much information needs to be entered into the MUD Act queries response. But it does seem a bit over the top as I imagine the management company have pretty much all the details to hand.

Does anyone know where I can see a copy of a MUD form?

Thanks.

davo10

Read this:

http://www.citizensinformation.ie/en/housing/owning_a_home/home_owners/management_companies_for_apartment_blocks.html

Fee for sinking fund is minimum €200 per unit, but can be set higher by the members of it is necessary . Did you go to the most recent AGM? This payment is voted on by the members.

Juwwi

We just paid 240 for it ,, the management company will most likely use a solicitor to deal with your solicitor tha'ts what our management company did ,l think thats were some of the costs go

davo10

robbie1977 wrote: »

We just paid 240 for it ,, the management company will most likely use a solicitor to deal with your solicitor tha'ts what our management company did ,l think thats were some of the costs go

Op is from 3 years ago.

sbs2010

Hi

It's not the sinking fund I'm on about, nor was the op by the way.


I need to get my management co. to fill in a form and send it to my solicitor.

As far as I can tell the form will look for general details about the development and specific details about the accounts and budgets.

And I've to pay 330 to get this form filled in!!

I'd just like to see exactly what's to go on it. Hence I'm asking where I could get a copy of one. Obviously I could ask my management co but I'd like, if possible, to see it before I get into the "I think you're ripping me off" conversation with them.

Claw Hammer

sbs2010 wrote: »

Hi

It's not the sinking fund I'm on about, nor was the op by the way.


I need to get my management co. to fill in a form and send it to my solicitor.

As far as I can tell the form will look for general details about the development and specific details about the accounts and budgets.

And I've to pay 330 to get this form filled in!!

I'd just like to see exactly what's to go on it. Hence I'm asking where I could get a copy of one. Obviously I could ask my management co but I'd like, if possible, to see it before I get into the "I think you're ripping me off" conversation with them.

The for is part of the requisitions on title. If it is wrongly filled in the person completing it can be sued. Fort that reason it is given to solicitors to complete.
Solicitors charge by the hour. Hourly rates for a solicitor are typically in the 100's although some go up to 1K.

davo10

sbs2010 wrote: »

Hi

It's not the sinking fund I'm on about, nor was the op by the way.


I need to get my management co. to fill in a form and send it to my solicitor.

As far as I can tell the form will look for general details about the development and specific details about the accounts and budgets.

And I've to pay 330 to get this form filled in!!

I'd just like to see exactly what's to go on it. Hence I'm asking where I could get a copy of one. Obviously I could ask my management co but I'd like, if possible, to see it before I get into the "I think you're ripping me off" conversation with them.

My apologies, I thought it was the sinking fund.

TooObvious

Pre-title enquiries can be anything from €200-€300 plus VAT. That's the norm.

Of course all the information which you are requesting is in the public domain, or has been issued to you in previous years accounts, so you could just try and answer the queries yourself....

blacklilly

TooObvious wrote: »

Pre-title enquiries can be anything from €200-€300 plus VAT. That's the norm.

Of course all the information which you are requesting is in the public domain, or has been issued to you in previous years accounts, so you could just try and answer the queries yourself....

Bad advice above!

Any inaccurate information provide in replies to requisitions can lead to legal action. Under no circumstances should they be completed by anyone other than a solicitor or managing agent.

TooObvious

Blacklilly, sorry I was being tongue in cheek!

The point being that it seems to me that most people won't think twice about paying a solicitor their fees, but when the management agent is asked to provide anything their legitimate fees are questioned.

somesoldiers

Op here- I just ended up paying for it in the end. I remember the solicitor telling me there was a lot of work involved for the MC at the time so just sucked it up. Mine was 300 so yours seems reasonable some years later