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- Sinking fund? Yes/no/how much.
- Any anticipated capital expenditure over the next five years?
- Current levels of service charge arrears.
And also get your solicitor to check what the charging mechanism is for the service charges - it's not straightforward when the properties are freehold.
- Sinking fund? Yes/no/how much.
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The rights to use the communal areas, times they are available (if you're nearby you may not want people swimming at 3 in the morning), if they're available all year round, do non-residents use them, is insurance in place (particularly liability insurance for someone drowning, breaking a leg, etc)
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If it’s holiday homes, check for covenants that prohibit year round occupation.
Brommers
aggi
Ramsaye
@ChasnotRobert
I'm in the process of buying somewhere which has communal grounds and a management co. The property itself is freehold and all I've been told so far is:
Each freeholder is a member of the management co;
The service charge last year was £xx.
What else should I ask? The communal grounds amount to a small swimming pool, tennis court and quite a bit of surrounding land under grass. It's a development of holiday homes. The use and enjoyment of the surrounding land has the potential to significantly add to or detract from the overall holiday home experience.