just read the survey on a flat - worried about miserly landlords in the building re maintenance, any encouragement?

[passionsrunhigh]

I've offered on a flat in a 4-flat house (large victorian building) and the survey has been done detailing all the works that are really due to be done to the exterior. They are not crying-out-urgent but surveyor said that while it will cost now, if left untreated even a couple of years, it will cost huge amounts if damage occurs. Some cracks to fill on the outside, timber on windows need sealing or smth like that, communal parts had some former leak (not huge) that may reappear. Even wothout the survey it's obvious the communal parts weren't done for yons - tatty carpet on stairs, walls could do with paint even though no obvious damp or smell. The thing is, like with many buildings in the area, two out of four flats are rented out and landlords don't bother. Basement is occupied by a dental practice so some hope that they'll cooperate as they aer also the head of management co. but they have own entrance and would be hard to get them to pay for communal parts - and they never treated their windows which survey showed as the worst.
They pay monthly very little which covers insurance and about a 100 a year left, but no sinking fund (at most it may be 1-2K, not confirmed).
I'm scared not so much of a cost of works (offer well within budget - could afford 3K to contribute) but that I won't find anyone cooperating/contributing as they don't live there (only tenants). Am I getting myself into a stressful situation? this is my main investment financiallly and i don't want the value to go down in 5 yrs (when i might sell but don't know) if all this due work doesn't get done. Will I have any real influence legally on hte others? If you had any good/bad experience of similar, please share!
I don't think vendors would drop the price at all, they know i need to move asap.

a 1000 a year

Hmm - can you find out if there are any funds held in reserve for maintenance/decorating, etc.? Presumably not, as you mention meagre sinking fund. I'd wager all of you are liable to be hit with a big assessment at some point for essential works.

And as far as legal influence on others so that they will pay - presumably common parts have been allowed to deteriorate because others simply don't have the money?

In your shoes, I'd steer clear. Don't let needing to move asap cause you to make a bad business decision. I'd sooner rent for a bit in order to take my time finding the right property.

Early, I'm sure they do hasve the money, as dentists are hardly poor (basement), and other two get very good rent on tese large flats. They purely can't be bothered as they don't live there. To be fair I've seen much worse comm parts during my search, but in some places the maintenance charge is higher and there is sinking fund or works have bben done recently, though some are in a worse state as i say. Lots of things do suit me about the flat (location too) and it's been a long stressful search (failed on two offers).
You say 'hit with assessment' - but who will hit them/make them do the works - some authority? theu are all sharing the freehold. When i owned in london there was an outside management co. and noone could refuse to do what they said, had to pay on time or could lose their flat.

From the sounds of it, they'll only do the works when absolutely necessary - hence my 'hit with an assessment' comment. Clearly, landlords are not having trouble renting the flats out, and the common part issues don't bother the dental practice, so all appear to be ignoring/postponing any cosmetic needs along with any non-crisis issues.

Is the flat you've offered on owned by an individual/couple who have occupied it, or has it been an investment property?

I'd steer clear.

the flat is occupied by vendors (they owned for short period though so also weren't bothered as seen it as a project). The question is - do I have a right to enforce/influenmce as one of the owners, and is there some authority that checks the buildings? I can't see the logic - yes they don't live three BUT it's there investment, and the longer left unrepaired, the more they will have to pay for urgent/serious issues. I'm all for prevention and/or slightly higher service charge to have decent fund for urgent stuff.
The problem is many other flats bring the same problem (you have to be lucky to like the flat/location AND have good maintenance in building). There is no chain on it as well.

I'd steer clear. I speak as someone who's just selling a flat in a badly maintained building (sounds similar to the one you like actually - no dentists in basement though) and just literally days after we put it on the market the freeholders decided to finally do some exterior work - to cut a long story short, it's costing us £7,000. 7 grand! For some bloody rendering, which if they'd done when the tenants in the building had complained of the cracks / damp, instead of two years on, would have been a relatively small job. We're appealing, but not much chance of getting the price lowered unfortunately and we're ready to move on, so we're swallowing the costs ourselves. Buyers will get a bargain, but that's scant consolation to us (we've had the place 12 years and it's always been a shitehole!).

thanks noclue - but who IS the freeholder? was yours not a share of freehold? I think this one is (though again so far confusion whether it's a lease - but i don't think there is am external freeholder). Did you have no influence at all on works being done even as you owned it? did you let it out (but even so you are the owner - did you have any rights to impose the works at early stage)?

7K is a LOT just for rendering. this could normally cover roof and external works allover, if other flats contributed same!

smalltown - is the management co. outside in your case? in this case the dentist (or his manager) is the secretary of the mng company - I thought it was good that they were 'on site' but they haven't done anything for few yrs at least judging by survey. And it it share of freehold (not sure yet) , do you know what's the law then? The thing is I don't want to start spending money on solicitor (who charge a lot) if I'm not sure whether i'm buying, I don't know whether EA/vendor can be made to come up with the info.
Good luck with your court case!

What does the lease say about maintaining the building and how/who funds it? There should be buildings insurance plus a sinking fund. I viewed v similar a few weeks ago and the maintenance for 5 flats was 100 each a month which inc BI. They had just had the externals done and it was immaculate and they had another 5k left for the internal stairways etc. The basement had a separate entrance and a patio but it still paid the same per month even though it didn't use the same front door as the other 4.You do need to be careful eg if the roof went and needed repair and it was 10k and one flat said we don't have our share?

there is insurance, and the 4 flats pay just 40 pm, which really just covers the insurance. There should be some leftover but whatever they have (I think sinking fund is 2K at BEST as told by vendor) they aer not doing actual works - nothing been done for years as surveyor could see it. Communal parts carpet is at least 15yrs old. I don't know details of lease - haven't got to that stage yet, I 'm trying to see whether it's worth it at all, somehow someone needs to speak to M.Company and get the info from them.

thank you smalltown - that's a horror story! I was going to say before i reached the end of the post, why don't you sue him? I mean he steals, doesn't he?
What is lvt?
Yes, I was hoping the agent can tell me for sure whehter it;s lease or freehold - surely the vendor should give this info? he only bought a few urs ago so nothing changed. I know that owners form the management co and the secretary is the dental manager from basement, but still don't know whether there is freeholder as such. It looks like i have no choice but to pay the lawyer - the issue is that if I don't go for the flat, I will still pay the solicitor over the odds (i.e. not just the cost of actual search).

thank you so much, v.helpful! will look at all these.
I assumed so far that the four flats are sharing the freehold, but will check.
IF this is the case, is this good or bad, and what influence one sharer has over the other three re works in the building, if the secretary is one of the flats as mentioned?

well the logic with the survey first was - to see if any bad things aer inside the flat in which case i'd pull out no matter what the aarranements aer in the building. Also to see what state is the building in, and whether he could notice any recent works. If he said that nothing needs doing for the next 5 yrs, I wouldn't have worried re management really (I knew there was at least a company on site), also if asked them first they might talk about planning the works this year but not do anything in the end. I will now ask the solicitor.