Service Charge Fees

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Let’s do stuff
Posts: 1
Joined: Wed May 30, 2018 4:24 pm

Service Charge Fees

Post by Let’s do stuff » Wed May 30, 2018 5:08 pm

Dear All,

I have been a resident of Victoria Wharf since 2006.

The service charges of this development have steadily risen over the period of time which I have lived here with a number of ‘renamed’ management companies taking control over the development. I feel that it has come to a stage that these fees are extremely high for what we get in return. They are London prices and not Cardiff prices, we do not live in London, where I hasten to add that our development management company is situated.

I recently made a visit to the new ‘bay scape’ development which is nearing completion at the end of our development, I was given the prices that they will be paying for their service charges, it may interest you that they will be paying several hundreds of pounds less than what we are paying.

For me personally I live in a two bed, and my service charge including ground rent is about £2,000 per year, plus council tax, contents insurance and electric on top of that. In the bay scape the service charge fee is £1,300 for what is essentially the same services.

I know it’s all about what we pay for, but in essence it’s the same services, concierge, bins, maintenance etc etc. And some people may say ‘we’ll go and live in Bay Scape’ that’s not the answer as the level of service charge is key when you want to sell your apartment, and from what I have heard it puts a lot of people off from purchasing in this development as the service charge is extremely high.

Not forgetting that apartments are starting from £260,000 for a two bed in Bay Scape, where as a resale for Victoria Wharf is about £180,000

The management company they are using is Seraph, who happen to be based in Cardiff.

I have no axe to grind here, nor have I got any association with any company involved with property management, all I’m stating here is that I feel that we as a development are not getting value for money in what we pay for in our service charge. These charges in my opinion are far too high and need to be substantially reduced.

The reason for my post is that I wish to stimulate conversation and the thoughts of everyone who lives here and pays the service charge and feels the same as I do in the way that this charge keeps increasing year on year without ANY improvement in service or value for money.

I feel that consort have got London based costs and this does not reflect what we actually get from this management company and maybe it’s time to source a more locally based, more cost effective service which could benefit us all. Consort have never been challenged to my knowledge on costs and have never reduced or given a rebate on the service charge. I think that things should change and that consort have been far too comfortable in their position and they should have a shake up.

I would be interested in what other people think and feel about the level of service charge at our development, along with the value for money aspect too.

PS. I also found out that the proposed 29 storey block in Bay Scape is now no longer going to be 29 storeys, it will be 11 storeys instead.

Karan
Posts: 2
Joined: Tue Jun 05, 2018 6:18 pm

Re: Service Charge Fees

Post by Karan » Wed Jun 06, 2018 10:45 am

I too have owned since new. My service fees were £800 a year then and are now between £1800 and £2200. A one bedroom apartment.

Massive cost.

Has anyone attempted to change management companies ?

Mizztraveller
Posts: 14
Joined: Fri Dec 28, 2012 9:47 pm

Re: Service Charge Fees

Post by Mizztraveller » Sat Jun 16, 2018 9:26 am

Management fees are always low when the buildings are new and building work still going on. I guarantee that when this development is complete the fees will probably double.

Who are Consort? Our managing agent is Firstport who took over from Peverell.

I do agree that the service charges have risen considerably over the last couple of years but you can't compare it against a new build where the fees haven't yet maximised.

Karan
Posts: 2
Joined: Tue Jun 05, 2018 6:18 pm

Re: Service Charge Fees

Post by Karan » Sat Jun 16, 2018 9:55 am

Consort were between Peverell and First Port. But same address and telephone number. They just change companies. Obviously, screwing over someone. !!!

But they are still expensive.

Has anyone considered, using a local management company, employing local businesses and tradesmen.

Surely this would reduce costs.

Mizztraveller
Posts: 14
Joined: Fri Dec 28, 2012 9:47 pm

Re: Service Charge Fees

Post by Mizztraveller » Sat Jun 16, 2018 10:00 am

A couple of year ago Celestia on Mermaid Quay went self-managed and there's been no reduction in charges, so that's not the way forward if you want to pay less. I think it's been the same at Century Wharf.

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