Author Topic: Discussion on mismanagement  (Read 3375 times)

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Discussion on mismanagement
« on: November 19, 2020, 12:26:31 pm »
Recently, there has been a lively discussion in my community about the mismanagement of properties by licensed property managers. One of the participants stated that a housing community is only a briefcase on the shelf for a property manager. The author of this statement is partly right, because there were no opposing views on this issue from the managers.

It is also impossible to notice that the properties of housing communities managed exclusively by many owners' boards are neglected. Housing community boards managing properties without the help of a manager/ administrator often make a fundamental mistake - they do not invest in their properties. Not investing in their properties will cause that in the long run no one will want to live in these properties and no one will want to manage such properties. Such situations will take place because many modern buildings of housing communities are being built, which will be coming in the following years, and there will be vacancies in old underinvested buildings. The owners of the premises will lose out because a dozen or so years earlier they were not interested in modernizing their properties, enjoying low apartment fees.

My advice to the apartment owners. If you live in an old building that is not insulated, the staircase windows are not replaced with new energy-efficient windows, thermostatic valves in the central heating system are not installed, you should thank the housing community board and the administrator/manager, if any, for their work.

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Re: Discussion on mismanagement
« Reply #1 on: November 25, 2020, 06:57:10 am »
An interesting post.

Not that I would ever advocate anyone buying any leasehold property, in my opinion it is always far better for the owners to control and decide what is and is not done on their building.
This will always be better than a management company appointed by a freeholder, which in the UK, are mostly just vehicles for extracting huge sums of money from flat owners, for in the main acting as an administer role and charging uncontrolled premiums for buildings insurance.

Whilst owner-occupier management boards may decide to delay or not carry out works benificial to a bu8ilding they do mot actually own, at least it will be their own, majority decision on how they spend their money, not some 3rd party middle man extracting unjustifiable management fees.
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