£600 for a management pack? Anything I can do?

[Wonderbug81]

I own a leasehold flat, one of two in a Victorian conversion.

The management agency are charging £500 + VAT which sounds like a lot. A quick google suggested £200 to £350 would be more appropriate for this type of property (leasehold but not in a complex/large block).

I am in London but still feels like extortion!

Just paid the same. Unfortunately they have you over a barrel as it’ll be in the terms of your lease for resale when you sell up.

I paid just over £500 total which was essentially an email with a few attachments of information that they already had….. painful. But worth it to get out.

It’s what it costs sadly. My management fee went up and up every year. Almost £4,000 a year it was before we sold and ran.

It’s a con but you have no choice sadly.

Unfortunately nothing you can do if that’s what the management company for your flat are charging. You need it to sell your flat - it’s a rip off but you need it.

You can ask for less but the fact is they can charge what they like (and could easily turnaround and say double and you'd still have to pay it). One of the many additional costs of owning and selling a leasehold unfortunately!

Thanks all. First time I've owned a leasehold and have to say it's been very eye opening! I guess I'll have to stump up then.