Non-Rent Monies

blog yellow circle pmgHere are various blog resources related to non-rent monies and payments, with sub-categories of service charges, fees, and other monies and costs/charges. These can be directly charged or hidden away, and are important to know what you may have to pay or might be able to charge another property interest for.

 

Don’t Be Daunted by a ‘Deposit’, Here’s Some Practical Pointers

deposits property management guideYou often hear reference to a ‘deposit’ being needed with properties, which can appear as a mysterious amount of monies that must be paid by one party when there’s something happening at a property, often a new letting or sale. It’s often a significant sum where there’s talk of getting it back or being deducted from a cost somewhere along the lines.
 
Therefore, they’re important things to understand. Whether you’re the person having to pay it, the party having to receive and hold it, or a middle man looking to manage and process it.
 
There will be various information around regarding the technicalities of what a deposit means in your situation, which is important to look into. Alongside this, you need a few practical...

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Agreeing the Best Property Management Fees

property management fees property management guideThe property management fees you incur can be very illusive, often just left as a rough benchmark of, say, 10% of something, or a one of cost of something else. As the nature of property management is both long-term and involving other bolt-on services, then it’s important to get right to the bottom of what the actual property management charges and costs will be for you. You can then go in correctly budgeted and being able to compare with other like-for-like proposals.
 
These tend to be charged by management companies or property managing agents, as the intermediary who manages property for clients. Individual property managers may work independently, but make sure you establish who the official entity is who carries out the...

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The Mysterious ‘Maintenance Charge’ for Your Home or Business

maintenance charge property management guideThese can be a real curve ball if you don’t expect them - suddenly being sent a ‘maintenance charge’ or ‘service charge’ from, say, a management company for so-called communal services on your estate. If you own a flat on a long leasehold then these make more sense for the communal running costs and service charge, but when you buy your own house freehold on an estate, to suddenly have these land on your door step can be frustrating.

They don’t tend to be huge amounts, often from £50 to £200 each year, but that’s still a lot when you don’t know what it’s for. You also tend to find them on newer housebuilder developments.

The 3 Popular Areas

The best way to describe how they often come about is to understand the three types of land...

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