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House Price Crash Forum


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About larry93

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    HPC member
  1. We didn't receive the 1 months compensation as Dr O would not sign our Annullment Agreement. We are now being asked to sign a new Agreement - the 1 month's compensation has been removed along with other clauses we're not happy about. Did Dr O actually sign the Agreement you signed?
  2. Did you manage to reduce any maintenance costs at the meeting?
  3. From what I understand the monthly maintenance fee is for the condominium company BWG, not K. K charge 21 euros. I think BWGs fees have to be paid whatever management company we choose. I'm not sure what service we would get for 5 euros a month and we don't want to keep changing, so we'll give it a go for now. I don't think BWGs fees have changed (apart from a slight annual increase). I think we paid an overinflated price for the property so that we got guaranteed rent, no fees, rates etc. The rent Dr O initially got probably didn't cover all this, but as they increased the rent over the 10 years, everything would have evened out. If we increase the rent over the 10 years then perhaps things will even out a little. Our worry is what extra costs there might be as we are now liable for these - eg: if extra maintenance work is required, if there is no tenant, if legal action is required etc. We're also having to pay the rates now. Before Dr O would have covered all this. If dericag is only 38 euros (because of rates) below the rent originally guaranteed then that's good. Our rent is much lower than the guaranteed rent. We have never received the guaranteed rent from day 1. Initially we received ~50 euros/month less than expected (due to errors on their part setting everything up). Eventually we received ~12 euros/month less than we expected. We thought that everything was sorted and then we got Dr O's letter last Summer...
  4. Did anyone receive a signed Annulment Agreement? He has amended ours by removing several clauses. Has anyone received compensation?
  5. read your previous message about getting in contact with people in Belfast. Live in N.I. and would like to discuss with other buyers.

    [email protected]

  6. Still here - just nothing much to report. Have changed Management Company which means we will be liable for maintenance costs and get less rent. Will just have to see how things go.
  7. Sorry - end of Dec, start of Feb and start of March.
  8. Did anyone receive a report? I thought it was just a one-page certificate of modernisation. We seem to have received rent at the end of Dec, start of Jan and Feb after receiving nothing since the Summer.
  9. dericag, did you find out if your modernisation had been done properly?
  10. Even though you'll be in contact with people nearby. Please continue to post any updates on the forum. We missed the Summer meetings in Belfast and no others have been posted on the forum so this is the only contact we have with others who bought in Berlin. Many thanks.
  11. We got our rental guarantee money back in the summer. Guaranteed rent was 345 and reduced rent was 270. By changing I have been told we will get 210 after payment of maintenance fees, rates etc. The property has not been modernised. Someone else I know was guaranteed rent of 298 and reduced rent 233. By changing they will only get 193 after payments. The property has been modernised. You're lucky if you are getting the agreed rent. The solicitor told me that Dr Ochel may have agreed rent with us, accepting less from the tenant initially and hoping to break even after 4/5 years as he increase the rent. We will also have to pay for any problems with the apartment as landlords usually do. Please let us know if you have any success selling - wish we'd never bought!
  12. K still haven't replied to my queries regarding rent, outgoings etc, so I don't know what we will get but am thinking it will be much lower than we got before. The money we got was the reduced monthly rent agreed in the Summer and we haven't changed company yet. Has anyone else appointed a new management company apart from K? Thanks
  13. Dericag, Hope everything is ok with you. If the apartment is not modernised is it better to wait and see what happens than change management company? If the apartment has been modernised will Dr Ochel have increased the rent he charges the tenant - it is still very low? Thanks.
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