Whilst we are best known for our specialisation in mansion blocks, built around the 1930’s, we have more recently scored major successes with new developments that have run into problems within their first 2 to 3 years of occupation.
These problems usually fit a pattern. The developer quotes an unrealistically low service charge to maximise sales and appoints a ‘friendly’ managing agent who will keep the lid on the snagging complaints and inevitable financial crisis.
By the end of Year 2, there is a massive shortfall in the service charge budget and heavy excess charges are billed to the new flat owners. By this time the developer has sold all his flats and walked away.
The tame managing agent has been too busy with other development instructions to spend much time visiting the property, managing the porterage staff or enforcing against troublesome buy-to-let tenants which are the blight of so many new blocks.
If you have bought into a new development and these problems are familiar, you will be interested to hear of our successes in this field and to talk to the residents’ associations of such new developments which we at Parkgate-Aspen have successfully treated and cured.