Share of the Freehold

[selly24]

Our place is share of the freehold and comes with a parking space,plus we were told by agent there are also guest parking spaces. Since moving in we have been told by the director of the management co. (one of the residents) that all spare spaces have been let to others who do not reside in the block, but nearby. Parking is scarce in the area and his claim is that this offsets our service charge (which is low but no evidence of what it is spent on). We have not been presented with any accounts detailing service charge would be X but thanks to income of xyz fee is reduced to £? We dutifully (stupidly?) Arranged the payment of service charge to the director upon moving in. No mention of meetings reviews. All units privately owned but almost all are let out. So guessing the landlords couldn't give two hoots about lack of visitor parking, but we do. Add in that some non residents double park 2 cars, meaning reduced space for us .
Is there a diplomatic way to raise this without causing a YABU/ bad neighbour situation? I do believe we should have regular meetings to agree what the service charge is spent on. Would appreciate input from those who have experienced this/ similar issues re: share of freehold or anyone with knowledge of the law I'm this regard tia

[NoArmaniNoPunani]

What do your deeds say?

[selly24]

Deeds say we own one car park space which is highlighted. Does that mean that other can choose to sublet parking space if they are not using it? Will recheck deeds later.

[bumpyboo]

Yes check the deeds but also check your lease as well. Even though you are SOF you and other owners should still have a lease which must be adhered to. Did your solicitor not request copies of previous service charge invoices when you purchased?

[BoomBoomsCousin]

Yes check your deeds. There should be some official way for you to influence management of the property. Maybe an AGM where you vote for an executive? Also, almost certain accounts should be available to you, though there often seem to be quirks with real estate.

But what should happen and what does happen can be different, especially in small or old set ups. If you want change then you are going to be rocking the boat and need to talk with fellow freeholders to gauge how happy people are with current set up. Try not to be too annoyed at the management company off the bat. It isn't their fault the agent told you things that aren't true (unless the agents were selling on behalf of or instructed by the management company).

[Bacontastic]

Your solicitor should have received, reviewed and forwarded previous 3 years of service charges and full signed-off accounts. They should have included communal let of excess spaces as line of income.

You are entitled to content of your lease document nothing me ore. You also own a share of the company who owns that lease, so can vote to change or influence key aspects if others agree with you (including building management). As a a shareholder you are entitled to attend AGM and as the building is managed and (I assume) by a specially created limited company, an AGM is surely a legal requirement.

A competent solicitor should have gone through all of this with you, but no matter.

Your lease most probably states that all leaseholders may only let out any part of their property (Inc car spaces) with prior permission of management company; that this permission will not be unreasonably withheld and that the management t company may charge a fee for granting this permission.

Check your docs for specifics.

Hope that help!

[selly24]

Really helpful reply Bacontastic! Thanks so much to all too

[caroldecker]

come back to us if the information bacon said is not provided because it is a legal requirement and we can advise on how you get the info.

[AuditAngel]

You can now download accounts for free from Companies house Beta service. If you go to www.direct-companies house.gov.uk and you should be offered access to the Beta service which is free.