At the moment our complex is maintained by the original developer but many of the owners are complaining about the expense and want to 'Go it Alone' or go with another company.
The problem as I see it, is we have 4 long term non-payers of the common expenses and some are slow in paying. With this in mind I don't see how we could run the place without the Original Developer as they carry the non-payers and are tolerant of the late payers.
Very soon the majority of owners are likely to vote to leave Original Developer and leave us in what I feel is an impossible situation because anyone else who undertakes work on the complex will want either paying in advance and certainly within a month. There is the common water and electric bills to pay as well.
There is also the attitude that: ''Unless everyone pays then I won't'' So if all the money isn't in for the utilities the will be cut off eventually.
I also feel that with the long term non-payers, debt collection is too expensive to pursue and they wont be fazed by a lawyer's letter. No Win - No Fee companies are not interested in dealing with this sort of debt.
Has anyone had experience in how to deal with this problem?
Financial & Legal
10 years experience in the property management game says:Stay with developer. If you go it alone and people do not pay then it turns into the old style UK "council tower block"Contractors will just stop performing the services if they are not paid.
Discussed on 07/12/2013 at 01:14
Discussed on 06/12/2013 at 19:26
New topic on 06/12/2013 at 19:23