Year Acounts

  • Filter
  • Time
  • Show
Clear All
new posts

    Year Acounts

    My mother's management company is run by the business man who had the flats built. We only have an address to contact them and any issues we have to ring the project manager of the original build !!
    Each year they have had an end of year account statement but it only consists of the final page - Page 5 which gives a total for each section ie Garden Maintenance £? Consultancy Fees £? ( they were 3k this year !!! Fuel £?
    The residents would actually like to see the actual breakdown of each area and wrote to him asking to see the proceeding pages of the statement 1-4 as set out in the landlord and tenancy act.
    He has replied back saying they did send a detailed profit and loss account for the year and under Schedule 6 paragraph 4 of the lease you are entitled to inspect the accounts,records and receipts but we need to make an appointment with the accountants and could be charged for their time !
    We do not consider what they send a detailed account, its just the final figures for each area, no breakdown. Surely it is the management's role to provide them, not for us to chase the accountants for them and possibly have to pay !!
    any advice for the residents much appreciated

    It's part of the usual freeholder-leaseholder scam process. Nothing new. The legal protections (such as they are) are designed to be subverted, and you have to pay to have your rights exercised.


    Latest Activity


    • Reply to S20 - Quotes not valid for long enough for 30 day consult
      by Flatman78
      Thanks Gordon999

      You can see from above reply to Macromia that's your comment wouldn't be relevant to me. there is no managing agent. It's just me (FH) and LH in upstairs flat.
      Thanks for taking time to reply though....
      23-05-2022, 20:29 PM
    • S20 - Quotes not valid for long enough for 30 day consult
      by Flatman78
      Hi LZ Community

      Just wondering if anyone's had/having any issues with S20 and allowing leaseholder 30 days to review estimates, raise concerns etc.

      Building material prices have fluctuated massively since covid and brexit.
      with a combination of Brexit, impact from russia/ukraine...
      23-05-2022, 14:42 PM
    • Reply to S20 - Quotes not valid for long enough for 30 day consult
      by Flatman78
      Thanks Macromia, I'm hoping not to have to request quotes to include extra 'contingency' as I know some building materials literally jumped by up to 80% pretty much overnight and so I / we could end up paying a hell of a lot more than we have to go with a 'protective' quote.

      It's only me...
      23-05-2022, 20:27 PM
    • RTM Hand Over Issues
      by martin15
      RTM handing over issues

      Our RTM companies comprise 4 blocks of 6 identical two bedroom flats and each block is registered at Companies House as a separate company.
      Following the acquisition date, it was discovered the former directors ignored legal advice and changed property management companies...
      23-05-2022, 19:36 PM
    • Reply to RTM Hand Over Issues
      by ash72
      You could sue the other company for the money owed.
      23-05-2022, 19:48 PM
    • Reply to RTM Hand Over Issues
      by Hudson01
      I am clearly no expert but i think this statement from the all knowing WWW appears to fit the bill for what has happened to you.................

      '' Fraud can be broadly defined as the deliberate use of deception or dishonesty to disadvantage or cause loss (usually financial) to another...
      23-05-2022, 19:48 PM
    • Reply to Old managing agents accounts
      by Gordon999
      You could show the last service charge demanded by previous managing agent . There should be a final summary of the service charge show the unspent funds.
      23-05-2022, 18:26 PM
    • Old managing agents accounts
      by jazzythumper
      Since obtaining the RTM and changing the managing agent, we have never been given full accounts / receipts for the previous year(s). We believe that as the old freeholder and leaser holder of one of the flats were represented by the same solicitor that prior to the sale of the freehold, we were subsidising...
      20-05-2022, 11:21 AM
    • Building works & S20 process
      by RichA
      Hi. I have a freehold after selling a leasehold flat in a block of 4 flats. We don't currently have a managing agent, so these duties currently fall to me (I am holding off appointing a managing agent whilst the leaseholders consider whether they want to RTM).

      The block needs some maintenance...
      21-05-2022, 17:20 PM
    • Reply to Building works & S20 process
      by Macromia
      Good questions.
      The fact that the cost of work means that Section 20 consultation is required doesn't necessarily mean that it is major work that will require a project manager and, although most leases will contain clauses that allow the cost of project management to be recovered from leaseholders,...
      23-05-2022, 18:23 PM