WIW Apt.6 Park House,Benson Street,Grand Canal Quay,Dublin 2

Orginally spotted in the “is this value i see thread” but like to hear opinions on it

Would be interested in it at this price level. Mgmt Fee’s are 2950 8-

daft.ie/searchsale.daft?id=596836

other one with internal pictures here but 70k more (must be an expensive camera!)
daft.ie/searchsale.daft?id=603395

Both adds have 3 bedroom house but price diff off 70k strange for me the management fees is high

Agreed managment fee is a bit mental alright but 1400 - 1600 p/m in rent could cover some that!!

What do ya think on the valuation obviously the one at 265k needs to get a grip in light of the neighbours but overall???

I simply could not bear “owning” an apartment and then having to shell out €250 pm in fees. That would bug the bejaysus out of me every single month. And the worry about it rising wouldn’t give me a moment’s peace.

Alternatively, one could shave €30,000 off the asking price to account for 10 years of fees and THEN work out the offer. So you could make €165,000 the de facto asking and work from there.

Meh. The whole thing sounds so precarious in the current market that I’d much prefer to wait for Budgetgate 2012/RA drops/house price database.

I don’t understand why people complain about management fees.

The fees are used to pay for the following items as a minimum

Building and Fire Insurance
Refuse Disposal
Repairs and maintenance to external of the building
Lighting to the common areas
Cleaning of the common area.

If you own a house these costs are paid directly. For example I recently received a quotation for home insurance of €1300. In addition I pay approximately €200 p.a in waste disposal.

From experience apartment complex which have low fees are typically badly run, with the developer still in control and do not have any sinking fund to speak off.

Apartment blocks where the majority of occupiers own their apartment have higher management charges then rental blocks. The owners insist upon proper services that your typically landlord is not willing to pay for in the management charge.

hey,

Can you please confirm if the property referred to above is now under the below links :confused: ?

Property for Sale in Ireland | Daft.ie @ €265k
Property for Sale in Ireland | Daft.ie @ €249k

Apt.6 Park House,Benson Street,Grand Canal Quay,Dublin 2 - this is now showing below at €250k - above the €195k price quoted on 17/09/11?
collapso.net/History/596836.html

While I believe this is referred to above, would be great if you could confirm if this is this a mistake on my part?
daft.ie/searchsale.daft?id=626503

Also:
The thread refers to an apartment in the same block at €70k higher, now only €15k higher…would love to know if you remember this property, which is now in the below link on Daft?
daft.ie/searchsale.daft?id=603395

I think it’s because they seem to be inordinately high for Irish apartment blocks. Personally I’ve a suspicion that the management company is creaming off some money for the developer in the form of salary, director fees or whatever.

But the point is well made, the services have to be paid for.