I live in a block of flats and every 6 months all the flat owners pay money into a maintenance fund..... we have a company which manages this fund for a fee. This company is resonsible for arranging all the jobs that need to be done i.e painting of communal areas, cutting trees etc. This last year they have not done 1 single job we have asked, despite all the residents begging for trees to be cut and pot-holes to be filled. The place is actually now dangerous because of them. We have written many, many letters to them asking for these things to be done. This month i have with held my payment to them as i feel outraged by paying for a "service" that we do not get!! Is it illegal for me to do this? Does anyone know to whom i should officially complain about them? The complicating factor is that we are trying to buy the freehold so that we will be in charge of the fund - will me witholding the money delay this? is there anyway i can hold the money and not delay the buying? Thanks!
2006-11-29 20:35:44 · 4 answers · asked by strawberrymoon 1 in Business & Finance ➔ Renting & Real Estate
All the residents should withhold their monies from this fund, maybe that will get someones attention. If it is like you have said, and more than one unit has complained about maintenance being completed, then you have grounds to withhold your money from the fund. I would get a consult from a real estate lawyer to get his opinion, but I would say you are well within your rights due to mismanagement of the fund.
2006-11-29 20:42:20 · answer #1 · answered by Scotty 6 · 0⤊ 0⤋
I believe you are referring to an association fee. Some of that money may go to pay property taxes. Its not wise to withhold it but do you have a homeowner's association? Who hired this company to manage the funds? There are many other companies out there that can do the same thing. Have a meeting of residents and vote on changing to another company. Its your right. Ask for a refund from this company and file a complaint with the better business bureau. Vote on using some of the funds to consult a lawyer regarding this company. If you do not have a homeowner's association, form one immediately. elect officals and take control of this. You guys are being ripped off.
2006-11-29 20:44:22 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Sounds like you need an attorney. It probably depends upon how the maintenance fund was set up. You can probably go to the court house and find out what deed restrictions are on your property and it should give you most of the information you need.
This company has a fiduciary responsibility and if you can prove they have violated it, you might be able to do something about it. I am not sure what a freehold is, but it sounds like an apartment complex sold the apartments or turned them into Condos, but they kept the grounds.
2006-11-29 20:44:39 · answer #3 · answered by plezurgui 6 · 0⤊ 0⤋
If one lives in an area where theres a homeowners Association, generally homeowner annual membership fees pay for this type of maintenance.
2006-11-29 20:45:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋