How should we organise regular maintenace of our freehold property by four freeholding leaseholders?

We wish to manage the upkeep of our freehold property by ourselves. None of us has any experience in organising the maintenance.
The building is in need of some urgent external structural repairs. We have received the quotes and now need to raise the funds. We are looking for equal contributions from each of the shareholders. One shareholder does not have enough to contribute.
We are considering borrowing the amount of the shortfall in our funds from a bank. How should we distribute the cost of the borrowing? We are also going to have a reserve fund for regular maintenance of the building. Any advice, website details, etc. would be appreciated.

It sounds like a prescription for disaster. Hire a property factor. He manages the maintenance etc. You all pay the annual fees and work won't progress until cash is in hand. you avoid disenchantment amongst neighbours. He'll advise you how to raise additional funds without everyone arguing who owes who what. Good luck.

I'm in Scotland. There are many in the Yellow Pages here. If your in England contact the Royal Institution Of Chartered Surveyors. If USA try Yell or a Real Estate organisation. Your solicitor, mortgage lender, will also know whose best for you locally. Good luck Report It

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