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 | £75.00 |
| Arrears Letter 2 (Offender Only) | £45.00 | £75.00 | £210.00 |
| Arrears Letter 3 (Offender Only) | £45.00 | £75.00 | £210.00 |
| Breach of Covenant | Free | £65.00 | £210.00 |
| Certificate of Compliance | £54.00 | Not Known | £210.00 |
| Client Secure On-line Portal | Free | Additional Cost | Additional Cost |
| Company Secretarial | Free | £500.00 | £745.00 |
| Deed of Covenant (Purchasing Leaseholder Only) | £54.00 | £85.00 | £310.00 |
| Exit Fees | £250.00 | £450.00 | £150.00 per hour |
| Granting License to Alter | Free | Not Known | £275.00 per hour |
| Granting License to Sublet | Free | Not Known | £300.00 per hour |
| Insurance Claims (Dealing with) | Free | £60.00 per hour | £120.00 per hour |
| Insurance Documents (Copy) | Free | 11p per A4 & Postage | £25.00 |
| Legal Work (Dealing with) | Free | Not Known | £240.00 per hour |
| Letter before Action | £100.00 | £275.00 | £500.00 |
| License to Assign | £54.00 | Not Known | £600.00 |
| Maintenance Portal | Free | Additional Cost | Additional Cost |
| Notice of Assignment (Purchasing Leaseholder Only) | £54.00 | £185.00 | £500.00 |
| Notice of Charge only (Leaseholder Only) | £54.00 | £185.00 | £500.00 |
| Photocopying Costs | Free | 11p per A4 & Postage | Not Known |
| Process to recover monies from mortgage | Free | Not Known | £500.00 |
| Residential First Tier Property Tribunals - Application (per hearing) | £55.00 per hour | £250.00 per hour | £1500.00 |
| RTM Process Fees | Solicitor Fees Only | Not Known | £750.00 |
| Sales Information Pack LPE01/FME01 (Selling Owner Only) | £210.00 | £450.00 | £600.00+ |
| Section 20 Consultation Processes | Free | £75.00 per flat, min £275.00 & Photocopying Charges. |
£1500.00 & £50.00 per flat |
| Supervision of Maintenance Works | Free | Additional Cost | Additional Cost |
| Work not included in management contract | £55.00 per hour | Not Known | £120.00 per hour |
| Work undertaken by Directors | £55.00 per hour | Not Known | £240.00 per hour |
The above prices are exclusive of VAT. VAT Registration Number: 327 0553 18
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.