Any Canary Gateway / Bywater Square landlords out there?

by Readers Question

A month ago

Any Canary Gateway / Bywater Square landlords out there?

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Any Canary Gateway / Bywater Square landlords out there?

Any landlords out there who have an apartment in Canary Gateway / Bywater Square, E14. The Management Company / Freeholder is Y&Y Management. They have increased the service charge dramatically (on a brand new development) and are attempting to levy an annual notice of sub-letting fee…….without any obvious contractual reasoning as far as I can see.

I would like to connect with other landlords as the “more the merrier” in addressing these kinds of challenges.

Thanks.



Comments

Lesley Clarke

A month ago

You could try setting up a face book group of property owners in the development to share information and if necessary share legal costs to fight unreasonable charges. There are a lot of companies now that buy freeholds and use them to strum up all sorts of dubious and extortionate fees; consent to sub let, notice to sub let, doubling ground rent etc etc. Personally I would not buy another leasehold property.

Tim

A month ago

Reply to the comment left by Lesley Clarke at 21/05/2018 - 16:40
Thanks - appreciate the respone. I had thought re a mailing to all flats in the block......just as much an issue for onwner-occupiers as landlords.....might have to do that.


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16.9% gross yearly ROI predicted on this development in Leeds