How to check with property management companies about paying extra fees. I have recently got a bill of paying extra 1000 pounds on management fees which is a rebalanced payment from 2020. I don’t know how they calculated out but they contacted me after 2 years. Of course, I can transfer the cost to my tenants. However, I cannot do it now. I asked a few leaseholders in my block and they refused to tell me if they had to pay extra.
What should I do in this case? How to make sure I was not overcharged by the management service company.
Ican only go by what happened when I bought a long 999yr leasehold flat for my daughter Every year the Management company held a meeting to go over the finances , future plans and show accounts . They are allowed to charge a management fee up to a certain amount but i have forgotten what this is. I have a feeling in the recess of my old brain that if a certain % of the leaseholders want to self manage then this can happen ,But it has to be well structured and a majority agree to the plan