9:30 AM, 23rd December 2015, About 7 years ago 5
Our block is currently being prepared for major works, the first since it was developed in 2002 (of course it should have been done every 7 years but due to a major fall out between leaseholders and freeholder/management the leaseholders refused to fund it – previous funds had been used for repairs that would benefit the retail units on the ground floor which are in the hands of family of the freeholder/management).
We are now raising funds again and have everything in place to start work – the management say that they are entitled to 10% of the cost of these works – £500,000. We cannot find anything in our leases that state this and the management say that it is inline with common practice. We have employed surveyors and quantity surveyors to cost the works prior to tender and the chair of the resident committee has found the contractor and been very involved with this – the management are sitting back and collecting percentages.
Is this correct? Does anyone have any experience of this – as the work has been done and paid for by other professionals I cannot see how the management can justify skimming off yet more money?