PMV41 deductions

ragtagarmy

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PMV41 deductions Oct 10, 2017 1:10:43 GMT sayyestocress likes this

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Post by ragtagarmy on Oct 10, 2017 1:10:43 GMT

This month £99.59 utilities

Last month £39.59 Broadband

Previous month £31.45

Utilities are specifically covered by the management agreeement, and it rather looks as if repairs have been held over from the initial year when they were also covered...

sayyestocress

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PMV41 deductions Oct 10, 2017 12:17:37 GMT Esmeralda likes this

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Post by sayyestocress on Oct 10, 2017 12:17:37 GMT

Good spot! It does look suspicious that maintenance on the bath, shower, plumbing and kitchen ceiling were required straight after the management partner's responsibility to fix them ended. Deducting for utilities when they are covered by the management partner according to the listing for the full term isn't exactly reassuring. It certainly appears that the management partner are taking the proverbial and PM can't be bothered / are too spineless to look after the interests of the shareholders. Have you asked PM directly for an explanation / clarification?

ragtagarmy Posts: 19 Likes: 7	PMV41 deductions Oct 11, 2017 5:18:55 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by ragtagarmy on Oct 11, 2017 5:18:55 GMT 99% certain I sent a message after the first BB charges appeared, haven't seen a response.

damar Member of DD Central Posts: 110 Likes: 47	PMV41 deductions Oct 22, 2017 16:05:33 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by damar on Oct 22, 2017 16:05:33 GMT I just asked about this on chat and I have been told, that they need to refer to the investment team and I should have an answer tomorrow.
	There are three types of people in this world, those that can count and those that can't

ragtagarmy

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Likes: 7

PMV41 deductions Oct 23, 2017 7:03:53 GMT

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Post by ragtagarmy on Oct 23, 2017 7:03:53 GMT

Oct 22, 2017 16:05:33 GMT damar said:

I just asked about this on chat and I have been told, that they need to refer to the investment team and I should have an answer tomorrow.

There's a chat facility?

Thanks for following up, I'm looking forwards to finding out what is going on.

damar
Member of DD Central

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PMV41 deductions Oct 23, 2017 16:45:01 GMT j and ragtagarmy like this

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Post by damar on Oct 23, 2017 16:45:01 GMT

Ok, I got them on chat again today, and here is the transcript.

Chat started on 23 Oct 2017, 04:12 PM (GMT+0)
(04:12:58) *** Visitor 20723395 joined the chat ***
(04:12:58) Andy: hi, I requested an update on SPV 41 as the utilities are included full term, but we have been billed for them
(04:13:03) *** Nicholas joined the chat ***
(04:13:06) Andy: I was hoping for an update today
(04:14:12) Nicholas: Hello Andy, I hope you are well.
(04:14:34) Andy: yes, good thanks, you?
(04:16:12) Nicholas: I'm afraid there is no update at this moment, SPV 41 has been moved from Secondary Market due to being revalued, will be put back on once information updated.
(04:16:33) Andy: Hi, thats great, but it was not my question
(04:16:47) Andy: My question is, why have we been charged utilities when they are included
(04:19:49) Nicholas: Apologies Andy, In regards to your query the 12 months have now lapsed, the SPV is now responsible for maintenance costs. As such, deductions will now be made from future dividends when necessary to reflect such costs. Is this the maintenance cost you are querying about?
(04:20:30) Andy: HI, nearly, I am querying the utilities cost, this is included
(04:21:05) Nicholas: If you can just give me a moment Andy, whilst I look into, I will try to be quick
(04:22:10) Andy: ok
(04:25:07) Nicholas: I may have to escalate your query Andy, before I do so, the costs you are referring to eg £99.59 was deducted September for utilities and £20 for cleaning. As far as I am aware, these costs are being added as the investment term has now gone over the initial twelve month period - this
(04:25:38) Nicholas: These costs would be added each month going forward, is this not your understanding?
(04:26:38) Andy: hi, the information provided before we invested was, that utility costs were covered for the full term, which is three years
(04:27:58) Nicholas: I would need to escalate this matter to our investors team for you Andy. Can you please provide me with your full name, post code and first line of your address?
(04:28:05) Andy: yes
(04:28:09) Andy: Andrew Wilson
(04:28:17) Andy: xxxxxx
(04:28:25) Andy: xxxxxxx
(04:28:49) Nicholas: Thank you Andrew, and the email address for your account with us?
(04:29:12) Andy: xxxxx
(04:30:12) Nicholas: Thank you Andrew, I've passed your query to our investors team who would be in contact as soon as possible.
(04:30:22) Nicholas: Apologies for any frustration caused.
(04:31:57) Nicholas: Can I assist with anything else in the meantime?
(04:32:11) Andy: no thanks, when will we get a response
(04:32:39) Nicholas: Hopefully tomorrow if that's okay?
(04:33:27) Andy: ok
(04:33:50) Andy: Visitor uploaded: Screen-Shot-2017-10-23-at-17.33.39.png URL: v2uploads.zopim.io/2/5/5/255HDyScIRQvRS0n9YhVlNErAd04ml1R/c1e5ba459c345e17a8098fe5d2b102b7ee775621.png Type: image/png Size: 50066 Thumb: v2uploads.zopim.io/2/5/5/255HDyScIRQvRS0n9YhVlNErAd04ml1R/c1e5ba459c345e17a8098fe5d2b102b7ee775621.png.thumb.jpg
(04:33:59) Andy: screenshot of text on website sent
(04:35:37) Nicholas: Thank you for including the screen shot Andy, I have included this with your query.
(04:38:47) Nicholas: Can I assist with anything else?
(04:39:57) *** Nicholas left the chat ***
(04:41:33) *** Andy left the chat ***

I like the idea of Property Moose, but I think it is poorly executed, I am on the process of selling all off my shares to invest in a more profitable venture.

There are three types of people in this world, those that can count and those that can't

ragtagarmy

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Likes: 7

PMV41 deductions Oct 24, 2017 7:27:50 GMT

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Post by ragtagarmy on Oct 24, 2017 7:27:50 GMT

Thanks.

So tomorrow and tomorrow and maybe tomorrow...?

It doesn't look good does it?

Is it common for properties to be revalued or removed from sm mid-term? Why would they need a revaluation, and who is paying for it? A better implemented sm would give a fairly reasonable approximation of its value...

That said I rather liked PM41...

sayyestocress Posts: 405 Likes: 243	PMV41 deductions Oct 24, 2017 8:48:53 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by sayyestocress on Oct 24, 2017 8:48:53 GMT I got a response on the utilities deduction from my own inquiry last week; the general gist is that the accounts team know about the issue and will be reversing the deduction "next month".

sayyestocress

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PMV41 deductions Nov 1, 2017 8:30:23 GMT

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Post by sayyestocress on Nov 1, 2017 8:30:23 GMT

Nov 1, 2017 0:55:02 GMT keystone said:

Oct 24, 2017 8:48:53 GMT sayyestocress said:

I got a response on the utilities deduction from my own inquiry last week; the general gist is that the accounts team know about the issue and will be reversing the deduction "next month".

No breakdown of how it's been spent, but cleaning costs were £20 last month and £60 for the 2 month prior to this. The locks were changed in August as well for a cost of £28. So either extra cleaning this month or they fitted a more expensive lock that will hopefully last longer then 2 months!

Yes, they really should break it down. But regarding the lock; it's an HMO that'll likely have different locks on all the rooms. I doubt it's the same lock(s) that have been replaced. I'd imagine cleaning costs vary depending on how many tennants came/went over the month and the state of the communal areas may vary month to month. It does seem a bit "convenient" that the costs happen to equal the refund though...

ragtagarmy Posts: 19 Likes: 7	PMV41 deductions Nov 4, 2017 0:27:04 GMT Esmeralda likes this Quote Select Post Deselect Post Link to Post Back to Top Post by ragtagarmy on Nov 4, 2017 0:27:04 GMT ...and still off the secondary market. Is broadband a utility, and even if not why the hell are we paying for it?

jnm21

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PMV41 deductions Nov 8, 2017 8:29:46 GMT via mobile

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Post by jnm21 on Nov 8, 2017 8:29:46 GMT

Oct 24, 2017 8:48:53 GMT sayyestocress said:

I got a response on the utilities deduction from my own inquiry last week; the general gist is that the accounts team know about the issue and will be reversing the deduction "next month".

I am fed up of the number of mistakes - there have been many, including some on loan investments where we can confidently check, but I wonder how many slips are made that we cannot spot especially on BTL? Also we should get staff discount/wages since it seems to be down to us to check their work! Not impressed & have told them so.

damar
Member of DD Central

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Likes: 47

PMV41 deductions Nov 8, 2017 8:56:48 GMT

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Post by damar on Nov 8, 2017 8:56:48 GMT

Nov 4, 2017 0:27:04 GMT ragtagarmy said:

...and still off the secondary market.

Is broadband a utility, and even if not why the hell are we paying for it?

I agree, I have asked the question, I cant see anything in the original info about paying for broadband and I think we could argue its a utility.

I also agree, that the money claimed back being the same as the maintenance bill as being quite a coincidence.

There are three types of people in this world, those that can count and those that can't

damar Member of DD Central Posts: 110 Likes: 47	PMV41 deductions Dec 3, 2017 10:26:36 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by damar on Dec 3, 2017 10:26:36 GMT Just an update, no response, true to form as always
	Last Edit: Dec 3, 2017 22:13:20 GMT by damar There are three types of people in this world, those that can count and those that can't

kaya Member of DD Central Posts: 1,150 Likes: 718	PMV41 deductions Dec 3, 2017 19:54:33 GMT oldtimer and keystone like this Quote Select Post Deselect Post Link to Post Back to Top Post by kaya on Dec 3, 2017 19:54:33 GMT Why the hell should I pay for someone else's broadband connection? I can't even afford to have my own!

damar Member of DD Central Posts: 110 Likes: 47	PMV41 deductions Dec 5, 2017 14:21:35 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by damar on Dec 5, 2017 14:21:35 GMT I have emailed one of the directors to see when it will be back on the market, as no on one has contacted me. I wonder if I will get a response now.
	There are three types of people in this world, those that can count and those that can't

Post by ragtagarmy on Oct 10, 2017 1:10:43 GMT

Post by sayyestocress on Oct 10, 2017 12:17:37 GMT

Post by ragtagarmy on Oct 11, 2017 5:18:55 GMT

Post by damar on Oct 22, 2017 16:05:33 GMT

Post by ragtagarmy on Oct 23, 2017 7:03:53 GMT

Post by damar on Oct 23, 2017 16:45:01 GMT

Post by ragtagarmy on Oct 24, 2017 7:27:50 GMT

Post by sayyestocress on Oct 24, 2017 8:48:53 GMT

Post by sayyestocress on Nov 1, 2017 8:30:23 GMT

Post by ragtagarmy on Nov 4, 2017 0:27:04 GMT

Post by jnm21 on Nov 8, 2017 8:29:46 GMT

Post by damar on Nov 8, 2017 8:56:48 GMT

Post by damar on Dec 3, 2017 10:26:36 GMT

Post by kaya on Dec 3, 2017 19:54:33 GMT

Post by damar on Dec 5, 2017 14:21:35 GMT