When I first started out in block management many moons ago developments were a lot different to many managed today. The only shared facilities that needed managing were the communal hallways, car parks and gardens.
However, today’s modern developments can consist of not just mixed tenure properties but a wide array of communal facilities.
It is not uncommon to expect some sort of controlled parking; gates, barriers or even underground car parking and residents are expected to share fewer visitor parking spaces which can lead to parking problems on an otherwise peaceful development.
Developers are now building developments which resemble hotels with porters/concierges, lifts, gymnasiums and even swimming pools.
At first glance these types of properties do appeal to buyers but when you look closer into the cost of maintaining such services it is not surprising that soon the services that once appealed are scrapped to save money. It was a novelty at the beginning to use the communal gymnasium or collect your post from the porter/concierge but when residents realised they were paying hundreds of pounds a year in service charges for such luxuries it isn’t long before the gymnasium gets shut and another person joins the unemployment line.
Any potential buyer should always consider before purchasing a property what communal services are included on a development as they do come at a cost and any developer should strongly consider if there is a market for this type of development in the area?