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How far in advance should property managers and boards of directors plan for major works to make sure they can collect the funds needed, and what are the basic steps that need to be taken to plan ahead with certainty? These were two of the main questions asked at a recent meeting with a board of directors responsible for a block of 50 flats in London. With regard to how far in advance you should plan, a general recommendation is at least 12 months at the absolute minimum, depending on: The condition of

Leaseholders who exercise their right to acquire a new (extended) lease of their flat under the Leasehold Reform, Housing and Urban Development Act 1993 must pay a premium to their landlord. Where the existing lease has an unexpired term of less than 80 years, that premium will include ‘marriage value’. To calculate marriage value, it is necessary to determine the value of the interest of the lessee under the existing lease and the value of the interest of the lessee under an extended lease. That differen

So you want to buy the freehold to your building, but the landlord has gone missing – what can you do? There are a number of possibilities. They may have died – in which case there may be executors who can deal on behalf of their estate. It may be there is an intestacy (where there is no will), but even so, there may be personal representatives who can act in this case. INSOLVENCY ISSUES The freeholder may be insolvent – in which case, there may be an administrator at the liquidator (if it is a company) y

The Commonhold and Leasehold Reform Act 2002, the legislation which introduced the Right to Manage (RTM) and sets out the procedure to be followed, is notorious for its particular and precise wording. In all Right to Manage cases, there are three statutory notices; two that the claimant must serve (the Notice Inviting Participation, and the Claim Notice), and one that the landlord may serve (the Counter Notice). All three of these notices include explanatory notes, and the content of these notes is also p

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