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The Commonhold and Leasehold Reform Act 2002 was a turning point for leaseholder empowerment as it enabled leaseholders to take control over how their properties were managed. Provided certain criteria were met, any organised group of leaseholders could take control of the management functions of their building with minimal fuss and red tape, by applying for the Right to Manage (RTM). These criteria require that the building must be self-contained, either structurally detached or with a vertical ‘earth

The Right to Manage (RTM) is a popular method by which leaseholders can take responsibility for the management of their blocks. When exercising the RTM, it makes no difference if the landlord’s management has been good, bad or indifferent. However, there are certain cost implications that are overlooked by leaseholders who decide to invoke the RTM process. We aim to highlight these in this article. PRACTICAL COSTS The RTM is exercised by a limited company, not by individual leaseholders. Therefore there a

Historical Background For much of the 20th Century, asbestos was considered a miracle material primarily due to its proven longevity, strength, heat resistance, insulating and waterproofing qualities.  Asbestos was used extensively and featured in a variety of materials / components including: Wall / ceiling linings, decorative textured coatings Vinyl floor tiles, sheet flooring Mattresses / quilts for fire stopping and sound insulation Thermal insulation lagging (for boilers, pipework etc.) Insulat

System Failures Flooding and the devastating effects it has on peoples’ homes and businesses makes the news and provides national headlines usually over the winter period between late November and through to February March of a following year.  However, flooding other than that caused by winter tidal surges, storms, ground swell and rivers bursting their banks, can and does occur all year round. In 2015 alone Harris Associates were appointed as contract administrator and overseeing surveyor on five major

If you have recently purchased or intending to purchase your freehold, and wish to appoint a managing agent to manage your block what should you consider?   Here is some simple guidance in order to make an informed decision.   Regulation Is the company affiliated to any professional body that provides quality control and standards for the Company to adhere to. As an example; The Royal Institution of Chartered Surveyors (RICS) is a global organisation that regulates its members, and conducts regulatory rev

QUESTION I have two flats: at one the lease conditions are very strictly upheld, by both management company and lessee.  Simply, if in the lease  you can have it/do it and if not....then it is understood you cannot have it/do it. At the other flat, on some covenants they are strict, but the lease clearly states, "no flower pot box or other item may be placed in the grounds, except where provided by the landlord". There are lots, of all colours, shapes and sizes, that some residents place where they like,

Macdonald & Company are delighted to announce the Appointment of Michael Sims MIRPM AssocRICS to their London Office. Stuart Jackson, Associate Director at Macdonald & Company commented, "We are pleased to announce the appointment of Michael to our expanding team in London. Michael will be the principal consultant for block management in the London residential team. Michael brings a great deal of technical and practical knowledge having worked previously within residential leasehold sector." Michael joins

Much has been said about the turning the current ‘generation rent’ into a generation of buyers – but too frequently little attention is given to the practicalities of owning the freehold. Whatever the purchase vehicle, the importance of a properly drafted instrument setting out the obligations, voting rights, what happens in the event of a dispute or conflict of interest, or when one party assigns their interest in the property, is often overlooked. Also given insufficient attention is the distinction bet

Macdonald & Company have been collecting data for the 17th annual rewards and attitudes salary survey for the global property sector. For this year’s survey the metrics and data on leasehold block management have been increased. This was achieved by adding specific new industry questions and working with the IRPM and News on the Block to promote the survey to the relevant audience. This year we had 7,466 responses, with 138 from block management, 1.8% of the total. Here is a breakdown of some the key data

WHY IS IT IMPORTANT TO KNOW THE LENGTH OF YOUR LEASE? In general terms, the longer the lease the better, and those with more than 100 years remaining are not normally a problem from a valuation perspective. Legislation states that where the lease has less than 80 years remaining, the payment to the landlord will have to include 50% of the ‘marriage’ value (explained in more detail below) when the leaseholder acquires a lease extension under the 1993 Act. Further, the majority of mainstream mortgage prov

FirstPort has received an impressive 4* rating from the British Safety Council (BSC) following its audit of FirstPort’s safety management systems. The nine-day independent audit provided the opportunity for FirstPort to measure against best practice and benchmark its performance against companies across a range of industries, including the property sector. The British Safety Council noted FirstPort’s drive and commitment to improve health and safety management standards, and was impressed by how engaged t

The national leasehold survey conducted by Brady Solicitors in conjunction with LEASE ran from 13 January until 29 April, receiving hundreds of responses from leaseholders and RMC directors across England and Wales. Clare Brady, managing director of Brady Solicitors, said of the initial findings: “With close to 1,300 responses to this ground-breaking survey, it is clear many ‘broken’ leaseholder /managing agent relationships could be mended with better communications and a clearer understanding of the nat