independent

Saturday 19 April 2014

The questions you must ask before buying an apartment

Is there a management company?

Who are the directors?

What is the service charge and what does it cover?

Is there a sinking fund to cover emergency problems?

Can I see the last set of accounts for the company?

When was the agm of the company last held?

Questions to ask a property management agent:

Where and how do you keep the money raised from our service charge?

How is this money managed and who receives any interest?

How do you deal with unpaid service charges?

How do you deal with tenants who break their leases?

Do you offer an out-of-office-hours service for emergencies?

How much notice do you need to carry out work?

How much notice do you need to cancel a contract?

Can you give us a list of your staff and their qualifications?

Can you list any professional or trade bodies to which your firm belongs?

Can you give us full details of your professional indemnity insurance?

Can you give us proof of your financial status?

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