Body corporate - could there be a problem with the management?

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  • Body corporate - could there be a problem with the management?

    Greetings all,

    I am considering making an offer on a BTL property with a tenant already in-situ. The yield seems good and the tenant is in place for another six months. It is reported that it is being sold as the landlord wishes to reduce his portfolio. I have done some research and it seems that the following applied to the management company around April 2012:

    DISS40 - Notice of striking-off action discontinued

    I suspect that the vendor may be the developer and possibly also the management company. Does the above mean that the management company may have been in financial difficulties recently? and should this ring alarm bells for any potential purchaser?

    Thanks all!

    Matisti

  • #2
    You will have to get your conveyancer to make enquiries, but the probability is that it was about to be struck off for failure to file an annual return. It is not uncommon with management companies.

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