Management Charge and Potential Renatal Income

Hi all

Does anyone know how much the Management charge is likely to cost us or is this something we must sort between ourselves.

Also I will be looking to let my apartment (Block 5, First Floor F 2 bed) has anyone had any indication of potential rental income either long term or holiday let.

Thanks

Jason

Hi Jason,

By management charge do you mean the community charge? We're we pay for the general upkeep of the building etc?

My understanding is that a committee of such is formed and at a general meeting the fees are decided for the year.

Can't really help you on the potential rental income. I was thinking of holiday lets myself but I feel it's a bit far away from the beach to sell as a holiday let to most people. I am going to try market mine as a cheap short term let to people I know as distinct from opening it up to the general public. Also, I would imagine the next phase, directly in front of blocks 3 to 5, is going to commence soon after this phase. My personal opinion is that is will be hard to market as a holiday let while the place is still going to be a building site.

regards

michael

Hi Jason

If you are flexible about your rental price you will be able to let to golfers. There will be a community charge and charge from the letting company if you use one. I estimate my total outlay will be £350 a month including mortgage etc. If I can achieve a modest £200 a month in rental, then I would be happy to shell out £150 a month and own a Spanish apartment.    

Hi

I know we have spoken a number of times about how to transfer funds to pay for property etc. I got a breakdown of outstanding costs from solicitor and she gave me her account details in which the funds where to be transferred. If i just transfer the money directly to the solicitors account in lumps of less than 50k I should not incurr any fees, right? Rather than transferring in to my own account in Spain, and then writing a check or whatever and given that to her and incurring a fee of around 0.3%. Does anybody see any issue with this approach

Thanks

Joe