Expert Property Managers in Bodmin

The charges are set down within the lease or legal papers and Koti Property Management is bound to collect in line with these terms. Common formats for charges are equal split amongst leaseholders/freeholders, based on the number of bedrooms within a property (flats), or based on the square footage of a property (flats), or ground floor properties (flats) not contributing to, for example, lift costs.

If you have just purchased your property it is usual that the Solicitors will apportion charges to the date of legal transfer. Within your welcome pack we will advise you of the position along with any charges due for the remainder of the financial year. The charges are specified in the Lease.

After the end of each financial year, certified Service Charge Accounts are prepared by an independent Accountant. These set out the income and expenditure for your development for the year (the financial year will be in line with the Lease). The Accounts, once approved by the Directors, are circulated to all leaseholders.

Ground rent is a regular (usually annual) payment made by a leaseholder to the freeholder, or superior leaseholder, in association with the land on which their property sits. The terms would be set down in a Lease. If however you are both a leaseholder, and a member of the management company/freehold company, it is usual that this demand would no longer apply.

In the first instance contact Koti Property Management during office hours on 01208 510050 or out of hours contact WMS on 01209 314666 (which will divert to the on-call mobile). You are also entitled to contact your own contractor. We will provide you with the necessary insurance details and an overview of how to handle your claim. Please note most policies carry an excess, payable by the lessee.