Quote:
Originally Posted by Redsea Furniture
I think the annual maintainace charges are the biggest con of all.
I pay 150 le for maintainance in my apartment block per month.
There are 16 units here...ok not big..but for this i have a large pool which is cleaned twice sometimes more a day
and is checked regular by the chloren guy.
We have 24 security and is cleaned constantly..it covers the out side lights bell boy etc.
We also have a part villa on Mubarek 7 where an English developer is charging £850 a year...just to clean the pool and 24 belboy...how do they get away with it.
There is a charge of £120 when you buy on mubarek 7 to join the residents unity which covers the general maintainace of the area this is a ONE OFF payment.
All i can see is that the developers see the annual charges as an excellent additional income
Ex-Boltonian living in Hurghada
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Any idea how the annual fee is determined - do you get to see all the costs - who pays if there is any "big" item for repairs etc.
A low initial charge (first 2 years or so) is easy to "sell" the real test is long term - do you have any guarentee that fee will not jump in a year or so.
I have to agree that £850 to £1000 a year seems excessive and the people who buy into such developments must have money to burn, or did not have the sense to check this before they bought.
To "defend" developers (just a little) - maybe the initial charge cost is not really known (hence my questions) and there will be a "pool" of money to work with over time, not just for the first few years when cost should be low, also potentially, if there is a "club" the excess can be re-paid at some point as long as it is ceratin that the money is not needed.
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