Reserve Fund

Landlord Expert
By Landlord Expert August 2, 2013 13:18

Hi,

Im a private landlord with a 1 bed flat in a block of 1-2 beds (30 flats)in North London. I have been in discussion with other landlords in the block about the amount of reserves being held for repairs, decorating etc and whether this amount is reasonable or whether it is too much and we should have a reduced service charge payment for some time, or, a rebate. Does anyone have any idea about this ? Jointly we owners (all freeholders)have about £700000 (perhaps a bit more) set aside in reserves. Is this normal,excessive or even too little ? Grateful for any replies.

Thanks

Alan Connell.

Landlord Expert
By Landlord Expert August 2, 2013 13:18

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