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BSI, the UK’s National Standards Body has recently launched the BS 8544 Guide for lifecycle costing of maintenance during the inuse phase of buildings. The costs that are involved in maintaining buildings after they have been through the construction process are often not fully realized, and this applies up to 90% of buildings that exist currently. This new guidance enables facilities managers, quantity surveyors, clients and owner operators to run their operations effectively and helps them estimate the

Mark Prisk MP has been removed as the Housing Minister following the recent Government reshuffle. He has been replaced by Kris Hopkins MP who has been made Parliamentary Under Secretary of State for Communities and Local Government, essentially downgrading the role from a frontline Government post. Mark Prisk MP had a professional property background, formerly being a Chartered Surveyor and had sought to firmly grasp some of the key residential property challenges such as regulating property management an

A new standardised procedure for buying and selling flats will speed up property transactions, and avoid the complications and expensive delays previously experienced by buyers and sellers of leasehold properties.  The Leasehold Property Enquiries Form, or LPE1 is a standardised questionnaire which has been developed and approved by the Law Society, RICS, ARMA, the BPF and the other major trade bodies in the property industry. It will capture in a single format for the first time, information about a pro

To attempt to try and define what a lease is and what and how many different types of leases there are, would pose both an academic and philosophical challenge to most experts and professionals.  Both professional lawyers and the professional lay person alike, equally face up to such a challenge in dealing with leases either practically in their day to day business activities or come across them when attempting to resolve a dispute between the parties involved. Echoes of debates can be heard and are bein

With Green Deal making the headlines on a regular basis, it is easy to get caught up in the negative stories and miss the benefits. The Energy Company Obligation (ECO) is a legal requirement on energy suppliers to provide funding for the installation of energy efficiency measures. Whilst designed to underpin the Green Deal’s Golden Rule, this funding is also available to support the installation of measures outside the Green Deal – for example it can be used to fully fund cavity wall insulation for blocks

The Upper Chamber faces the unenviable task of determining an appeal challenging the reasonableness for a landlord (in this case a small freehold investor) to insure against terrorism and redeem that cost under the service charge account under the provisions of a relatively modern lease. The outcome of Qdime Limited v The Bath Building (Swindon) Limited could potentially send shockwaves throughout the insurance community and possibly undermine the entire principles on which terrorism insurance is provided

I’ll admit it: I enjoy running interesting technical arguments. Call it a guilty pleasure. I recognise, however, that these types of arguments can lead to outcomes that might be regarded as perverse or unjust. It is refreshing, therefore, when the Court (or Tribunal) adopts a common sense approach to technical/procedural compliance. In Avon Freeholds v Regent Court RTM Co Ltd, the RTM company (“RCRTM”) sought to acquire the right to manage of Regent Court, in Plymouth. The landlord disputed the claim. On

This article is about the main determinant of marriage value; the leasehold value and by extension the leasehold relativity.   In very simple terms Marriage value is equal to : A – (B+C) where A = vacant possession Value, B = freeholders current value and C = existing lease value.   As the leaseholder : A is what you end up with and C is what you start with. Both the Leasehold Reform Act 1967 (the “1967 Act”) and the Leasehold Reform Housing and Urban Development Act 1993 (the “1993 Act”) requi

Deferment rate is the annual discount applied on a compound basis to an anticipated future receipt to arrive at the market value of the freehold at the valuation date.  In recent years the deferment rate has become one of the main focal points for arguments in negotiating lease extension and collective enfranchisement claims. There have been numerous cases at the Lands Tribunal where deferment rate has become an issue. The most significant is Earl Cadogan and Cadogan Estates Limited v Sportelli (Sportell

A collective enfranchisement process is like preparing for a wedding – everything has to be brought together for the day when you complete on the freehold, and then comes the marriage, when you actually have to take responsibility for each other’s amenity in the building.  Many of the disputes which arise after the honeymoon joy of being rid of the former landlord can be avoided if they are considered and addressed in the participation agreement (“PA”), the paper which all the participants sign (or should

Buying and selling short leases is without doubt a complex business.  Notwithstanding the complexities, there are many reasons to purchase a short lease in Prime Central London, not least because it can offer buyers an investment in a secure, albeit volatile, market. THE RIGHT Under the Leasehold Reform Housing and Urban Development Act 1993 (‘the Act’) tenants of long leases are given the right to extend their leases.  The right provided for the Act is for the grant of a new lease for: An additiona

The subject of ‘relativity’ to establish current lease value has taken up many pages in LVTs and Upper Tribunal’s (UT) discussions and determinations over many years. Valuers cannot rely on previous LVT cases on their own but may seek assistance from the compendium of research compiled by a panel under a RICS banner in 2009. There is the established PCL graph of graphs but this long established research is often unhelpful in areas such as Surbiton, Southfields or Sutton (Surrey). Valuers have their own