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Our Fees & Charges

Our Fees & Charges

Management Fees:

Freehold Management Services Ltd tailors its pricing structure to reflect the varying needs of both the client and the property.  Our fees are negotiable, whilst taking into account the size and complexity of the property, maintenance schedules and its leaseholders. However, generally as a guide our fees for a smaller freehold (4 flats) is £185.00 per lease per annum and for the larger freeholds our fees can be as low as £120.00 per lease per annum. Fees, once agreed, are due on the day the management contract is signed and the anniversary of that date thereafter.  However, to assist the properties cash flow, it may be agreed that our fees be spread over a 12-month period and taken on a monthly basis.

Note:  The First Tier Tribunal (Property Chambers) considers fees of £200.00 per lease for a smaller freehold to be at the higher rate of acceptable fees (fair and payable) and this is due to the fact there is no "Economy of Scale" in smaller freeholds, therefore, would deem this high level of fees if applied to medium (11 to 50 Units), Large (51 to 100 units) and supersized (101+ units) as unacceptable (not fair and not payable).

Management Charges:

Please be aware that your managing agent cannot charge extra costs unless you as the client agree to those terms and they are clearly stipulated in the management contract. Please see below Freehold Management Services Ltd charges and how they compare to those of other block management companies based in Plymouth and London.

Description Freehold Plymouth London
Setup Fee - Contract Free £250.00 (Min) £500.00 (Min)
Setup Fee - Contract Terminated within 30 Days £250.00 £250.00 (min) £500.00 (Min)
24 Hour Emergency Cover Free Free £18.00 per flat
Accounts Documents (Copy) Free  11p per A4 & Postage £45.00
Breach of Covenant Free £65.00 £110.00
Certificate of Compliance Free  Not Known £210.00
Client Secure On-line Portal Free Additional Cost Additional Cost
Company Secretarial Free  Not Known £645.00
Deed of Covenant £45.00  £65.00  £210.00 
Exit Fees £125.00  £350.00  £120.00 per hour 
Granting License to Alter Free  Not Known £175.00 per hour 
Granting License to Sublet Free  Not Known £200.00 per hour 
Insurance Claims (Dealing with) Free  £60.00 per hour £120.00 per hour 
Insurance Documents (Copy) Free  11p per A4 & Postage £15.00 
Legal Work (Dealing with) Free  Not Known £240.00 per hour 
Letter before Action £65.00  £65.00 £125.00  
License to Assign £45.00  Not Known £600.00 
Maintenance Portal Free Additional Cost Additional Cost
Notice of Assignment £45.00  £85.00  £600.00 
Notice of Charge only £35.00  £85.00  £160.00 
Photocopying Costs Free 11p per A4 & Postage Not Known
Process to recover from monies from mortgage Free  Not Known £210.00 
Residential First Tier Property Tribunals - Application (per hearing) £25.00 per hour  £110.00 per hour  £1500.00
RTM Process Fees Solicitor Fees Only  Not Known £450.00 
Sales Information Pack (LPE 1 Questionnaire) £125.00  £350.00 £460.00
Section 20 Consultation Processes Free £35.00 per flat, min £175.00 & Photocopying Charges.

£1500.00 &

£50.00 per flat 

Supervision of Maintenance Works Free Additional Cost Additional Cost
Work not included in management contract £15.00 per hour Not Known £120.00 per hour
Work undertaken by Directors £25.00 per hour Not Known £240.00 per hour

 

When engaging or tendering for a Managing Agent, please ensure you read the small print and satisfy yourself to what their management fees and charges will cost you or your company.

 

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Written by : Don Gerrard