Joined: 25 Sep 2017
Location: North Walsham, Norfolk
|Posted: Thu Dec 07, 2017 1:29 pm Post subject: Management service fees
|Sorry if this topic has been done to death, I have had a good search but not found an obvious discussion.
We are close to completing the purchase of our first holiday home property. We've had a good period of planning and I have made extensive use of this excellent forum to understand the good and bad aspects of this new job we are about to undertake.
Finding the right listing / booking / management site(s) is obviously key. This one struck me http://www.blakeneycottagecompany.co.uk as it appears really appropriate for what we want, giving flexibility of use etc. Our property is slightly outside of their ideal catchment area (we are 20 miles from Blakeney) and in email conversation with the MD he has suggested that the partial management service would be more suitable for us and him (which I understand).
The one thing I cannot get a grip on is what good value looks like from a management service. Their owners FAQ (http://www.blakeneycottagecompany.co.uk/information-for-owners/) details the extensive offer for the full managed service (costing 22% + VAT) whilst the partial service runs to 17% + VAT.
We live 2.5 hours drive away so will require the cleaning, laundering and gardening doing for us. My interpretation of their service offer is that for the partial service I have to source that and provide the linen, towels, cleaning sundries etc.
My question to you wise lot - is 17% a good value fee?
I am going to schedule a phone meeting with the MD for next week so would love your views to be informed. If a 22% fee for the service offered is even better value in your opinion I will push him to offer me that, maybe on a trial period. He has suggested that properties have to be "quite special" for him to flex the 15 mile rule - but I think mine is (but I would say that wouldn't I?!)