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Written on: 02/10/2017 by Jonsamuels (1 review written)

They are an associated party of Wallace Estates and act as the muscle for collecting their ground rent. We own a leasehold apartment in a building owned by Wallace Estates but the building is now managed by a separate independent RIGHT TO MANAGE COMPANY which took over from them because they were charging the leaseholders £71k a year for insurance when the RTM company now pays £15k a year. They were pocketing over £50k and no doubt getting kickbacks from the insurance brokers. When we bought our apartment we paid a notice fee as per the lease but as our apartment is run by an RTM Company then the fee is payable to the RTM company and not Wallace or Simarc. The RTM company wanted a small fee for sorting out the notice and issuing the compliance certificate required for our solicitor to register our title.
We then received a letter from Simarc demanding over £700 for the same service we'd just paid the RTM company for and they were demanding over 4 times as much! Thank goodness our solicitor and the RTM company solicitor explained to us that Simarc CANNOT demand those fees because by law a fee is due to the RTM company and not the freeholder or their hired goons. The solicitor for the RTM company said they have told Simarc they are not entitled to the fees demanded but they still try it on in the hope that they will catch some poor sucker who thinks they have to pay. PLEASE DO NOT PAY THESE THUGS ANYTHING IF YOU HAVE ALREADY PAID THE RTM COMPANY. IF IN DOUBT SPEAK TO YOUR CONVEYANCING SOLICITOR AND MENTION THE RIGHTTO MANAGE LEGISLATION TO THEM.

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