{"id":156,"date":"2021-05-23T10:11:15","date_gmt":"2021-05-23T10:11:15","guid":{"rendered":"https:\/\/imqra.com\/?p=156"},"modified":"2021-05-27T20:33:28","modified_gmt":"2021-05-27T20:33:28","slug":"are-mqa-g-service-charges-good-value-for-money-vfm","status":"publish","type":"post","link":"https:\/\/imqra.com\/?p=156","title":{"rendered":"Are MQA-G service charges good value for money (VFM)?"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<p>At the Jan 2020 AGM the chairman proclaimed to leaseholder that&nbsp;<em>\u201cWe deliver VFM.\u201d&nbsp;<\/em><\/p>\n\n\n\n<p><em>\u201c\u2026 you may recall a few years ago I prepared a comparison of MQ service charges to other similar developments.&nbsp;This was following a challenge from a shareholder who owns a similar property in Kidbrooke Village (KV).&nbsp;Once analysed it turned out that the actual service charge in 2016 for that property in Kidbrooke Village was \u00a33,3028 plus parking fees and here at MQ the service charge was \u00a32758.&nbsp;&nbsp;Today a similar property at Kidbrooke Village attracts a service charge of \u00a34688 compared to \u00a32,900 here at MQ.&nbsp;&nbsp;We deliver VFM\u201d.<\/em> (not recorded in published minutes.)<\/p>\n\n\n\n<p>However this is not comparing like with like.&nbsp;&nbsp;Residents at Kidbrooke Village also benefit from&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>24 hours concierge,&nbsp;<\/li><li>gym,&nbsp;<\/li><li>swimming pool,&nbsp;<\/li><li>cinema room,&nbsp;<\/li><li>meeting rooms etc.<\/li><\/ul>\n\n\n\n<p>all of which add significant amounts to the service charge bill and so mean this is not a valid comparison \u2013&nbsp;it is like comparing a basic model Ford to a high spec Mercedes.<\/p>\n\n\n\n<p>Furthermore,&nbsp;service charges at KV are based on the size or the flat \u2013 the \u00a34688 figure given is for a large three bed property at KV, as the table below shows a two and one bed flat would be much lower.&nbsp;&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Kidbrook Village service charges 2019-20<\/strong><\/td><td><\/td><td><\/td><td><\/td><\/tr><tr><td><strong>beds<\/strong><\/td><td><strong>sq m<\/strong><\/td><td><strong>sq ft<\/strong><\/td><td><strong>s. charge&nbsp;<\/strong><\/td><td><strong>cost\/sqft<\/strong><\/td><td><strong>Charge if in MQ<\/strong><\/td><td><strong>Difference&nbsp;<\/strong><\/td><td>&nbsp;<\/td><\/tr><tr><td>3<\/td><td>103<\/td><td>1109<\/td><td>\u00a34,600<\/td><td>\u00a34.15<\/td><td>\u00a32,960<\/td><td>\u00a31,640<\/td><td>&nbsp;<\/td><\/tr><tr><td>2<\/td><td>64<\/td><td>689<\/td><td>\u00a32,859<\/td><td><\/td><td>\u00a32,960<\/td><td><span class=\"has-inline-color has-vivid-red-color\">-\u00a3101<\/span><\/td><td>&nbsp;<\/td><\/tr><tr><td>1<\/td><td>51<\/td><td>549<\/td><td>\u00a32,278<\/td><td><\/td><td>\u00a32,960<\/td><td><span class=\"has-inline-color has-vivid-red-color\">-\u00a3682<\/span><\/td><td>&nbsp;<\/td><\/tr><tr><td>1<\/td><td>38<\/td><td>409<\/td><td>\u00a31,697<\/td><td><\/td><td>\u00a32,960<\/td><td><span class=\"has-inline-color has-vivid-red-color\">-\u00a31,263<\/span><\/td><td>&nbsp;<\/td><\/tr><\/tbody><\/table><figcaption>Comparing service charges at Kidbrooke Village with MQ for different sized flats<\/figcaption><\/figure>\n\n\n\n<p>Therefore, the owner of a two bedroomed 64sq m flat in MQA-G is paying \u00a3101 more in service charges at MQ than they would for the same size flat&nbsp;at KV&nbsp;and the owner of a one bedroomed 38 sq m flat in MQA-G is paying \u00a31,263 more.&nbsp;&nbsp;Moreover, at KV they would also benefit from 24 hour concierge, gym, swimming pool etc.<\/p>\n\n\n\n<p>Alternatively ,the comparison can be made the other way.&nbsp;&nbsp;The owner of a 1 bed 41.5 sqm flat in Greenfell Mansions (previously&nbsp;advertised on&nbsp;<a href=\"https:\/\/www.primelocation.com\/to-rent\/details\/56238639?search_identifier=2109c367e2d498781e48754eb9322e6a\">PrimeLocation<\/a>) who pays \u00a32960 in service charges at MQ would pay \u00a31,855 at KV or&nbsp;<span class=\"has-inline-color has-vivid-red-color\">\u00a31,105 less in KV<\/span> than in MQA-G.&nbsp;<\/p>\n\n\n\n<p><span class=\"has-inline-color has-black-color\">Why do those managing MQ feel it necessary to give this partial and arguably misleading account to leaseholder at the AGM?&nbsp;&nbsp;Why was this part of the proceedings not minuted?&nbsp;&nbsp;Do those managing MQ really deliver the value for money they claim?&nbsp;&nbsp;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span> The owner of a 1 bed 41.5 sqm flat in Greenfell Mansions who pays \u00a32960 in service charges at MQ would pay \u00a31,855 at KV or \u00a31,105 less in KV than in MQA-G. <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,13],"tags":[20,24],"class_list":["post-156","post","type-post","status-publish","format-standard","hentry","category-mq-a-g","category-property-management","tag-mq-a-g","tag-vfm","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Are MQA-G service charges good value for money (VFM)? - IMQRA<\/title>\n<meta name=\"description\" content=\"The owner of a 1 bed 41.5 sqm flat in Greenfell Mansions who pays \u00a32960 in service charges at MQ would 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