Our Fees

HMS operates a transparent and competitive pricing philosophy.

 

Management Fees are charged at a rate per apartment/flat per annum. The fee will be fixed for one year and will be reviewed then. HMS apartment fees are charged quarterly in advance. HMS Company Secretarial fees are charged annually in advance. All other HMS fees are charged as and when services are provided.

 

Currently, fees are:

 

Fees payable by the management company:

 

      • £150.00 per apartment/flat/property per annum to provide the majority of our services.
      • £175.00 per annum to act as Company Secretary.
      • £170.00 to co-ordinate insurance claims. No charge will be made if the activities undertaken by HMS are minimal.
      • £450.00 to oversee major works whose value is in excess of £3,000.

 

Fees payable by others:

 

      • Instructing Solicitors for the recovery of arrears        -           £140.00
      • Attending Court in connection with arrears recovery -           £200.00
      • Preparing and responding to pre-contract enquiries  -           £120.00
      • Accepting Notice of Mortgage          -           £90.00
      • Accepting Notice of Assignment (including accepting Notice of Mortgage, accepting Deeds of Covenant, Issuing new Share/Membership Certificate, issuing letters of consent)          -           £185.00
      • Reviewing Tenancy Agreement          -           £90.00
      • Additional administration fee for lease breaches   -           time based

 

With the exception of the annual fees and the additional administration fee all of the above costs are one-off fees because the work does not normally exceed two to five hours duration.

All fees are subject to VAT at the current rate. Disbursements, e.g. postage, stationery, Land Registry fees will be recovered when appropriate.

 

In any quotations that HMS issue for specific work HMS will estimate the time likely to be expended to undertake the task and calculate an overall quotation using a man hour rate of, currently, circa £90 per hour.

 

 

 
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