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Services charges in flats

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I'm curious as to how it is that some buildings charge over 1.5k a year for services charges when you buy a one bed flat.

Which buildings in Sheffield do not have ripping off charges?

And is there any way residents can change that?

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I'm curious as to how it is that some buildings charge over 1.5k a year for services charges when you buy a one bed flat.

Which buildings in Sheffield do not have ripping off charges?

And is there any way residents can change that?

 

Most of them they do, the closer you come to city centre the more they charge... Buy a house ;)

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I'm curious as to how it is that some buildings charge over 1.5k a year for services charges when you buy a one bed flat.

Which buildings in Sheffield do not have ripping off charges?

And is there any way residents can change that?

 

It depends on what they're charging for - for instance if it includes a car parking space, lifts etc then probably reasonable - if just cleaning windows and communal entrances then way over the top.

 

AFAIK you should be able to get an itemised statement showing what's included.

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As well as itemised statements try to ensure that the agent is getting several quotes for any repairs etc that need doing. It can be a right rip off if the flat is one of several in the block.

 

I know of a block where there are six flats in the block. They had the roof patched up and the gutters replaced and EACH resident had to pay around 4.5k. That’s about 27k! Of course, it’s not the agent or lease holder that has to pay. The owners of the flats are over a barrel. The agent/lease holder can be in cahoots with the builders etc.

 

I nearly bought one to rent out until it was explained to me how it all works. The estate agent said that the annual service charge was £800 but the previous year the charge was £1200 because they had some work done. Be very careful in these sort of situations.

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With my late mother in law she bought her flat, the service charge was for the upkeep of grounds basically mowing the grass and sweeping up the leaves once a year, maintaining a small foyer and staircase and the building which was still owned by the company - kind of a lease payment for a space your flat to exist in. I think its just over a grand a year.

 

This always puzzled me as to what you are buying when you buy a flat if you don't own the roof, foundations and walls excluding internal walls, floorboards and ceiling i don't know. Presumably internal walls and doors kitchen units, bathroom suite and services water from stop ****, electric from meter and drains to the border of your flat are what you have paid 90 grand for. seems a lot of money compared to what you get when you buy a house.

I wonder how upstairs feel when you tell them you need to rip up there carpet and floorboards to access you electrics.

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With my late mother in law she bought her flat, the service charge was for the upkeep of grounds basically mowing the grass and sweeping up the leaves once a year, maintaining a small foyer and staircase and the building which was still owned by the company - kind of a lease payment for a space your flat to exist in. I think its just over a grand a year.

 

This always puzzled me as to what you are buying when you buy a flat if you don't own the roof, foundations and walls excluding internal walls, floorboards and ceiling i don't know. Presumably internal walls and doors kitchen units, bathroom suite and services water from stop ****, electric from meter and drains to the border of your flat are what you have paid 90 grand for. seems a lot of money compared to what you get when you buy a house.

I wonder how upstairs feel when you tell them you need to rip up there carpet and floorboards to access you electrics.

 

You do own the roof, but it is shared ownership with the other flat owners. If everyone in the block of flats was reasonable, fair, sensible and would pay up when work was required it would probably be a lot cheaper than using an agent but reality is not like that when concerning most people. With some people it`s like pulling teeth just trying to get the monthly rent:hihi:

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You'd have to be mad to buy a flat. The service charges would put me off straight away.

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Building insurance is often included though...

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Seriously, flats are ok if you're renting. If you actually want to own something and be your own gaffer buy a house.

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We had an ex local authority flat in Plymouth. We paid £100k. A year later we were notified that the would reroof and repainted the property. We were told our 1/6 th share would be £9500! No option to say no. We sold and would not buy a flat again. At least with a house you can work to your own pocket.

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I'm curious as to how it is that some buildings charge over 1.5k a year for services charges when you buy a one bed flat.

Which buildings in Sheffield do not have ripping off charges?

And is there any way residents can change that?

Yes, there's several. See http://www.lease-advice.org/advice/find-the-right-information-for-you/?step-option=61

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