Featured Articles

Get the answers to your questions and stay up to date about apartment building management with our featured articles and NOTB guides, on topics such as service charges, right to manage, buying your freehold, major works, building insurance and other issues about blocks of flats.

Are your Service Charges Safe?

Flat owners generally pay regular amounts of money to management companies in respect of service charges and reserve funds used for the upkeep and maintenance of their properties. The Federation of Private Residents Association (FPRA) has issued a recommendation to flat owners to confirm that money deposited on their behalf will be safe if the bank in which funds are deposited ceases to trade. Confirmation should be obtained in writing from the bank or managing agent concerned. Federation Ch

In Conclusion- Service Charge Misery

If you think you’ve got it bad with your service charges, spare a thought for your compatriots over in the commercial property sector.‚  Tenants at the newly opened Westfield centre have reportedly been told about an increase in their service charges by up to 75%‚  just days after the £1.6 billion shopping centre opened.‚  The service charge hike means some tenants may be paying more than £500,000 a year in service charges.

In Conclusion - Jazzing Up Leasehold Reform

Those party people down at Wallace LLP solicitors have been celebrating the launch of their new leasehold enfranchisement department.‚  Hot footing from their launch at the Charlotte Street Hotel in July, the team hosted clients at an exclusive evening at the world famous Ronnie Scott’s Jazz club.

In Conclusion - The Blight Of Leasehold Buy-to-Let

It is bad enough to have the uncertainty of job security let alone whether there are unexpected service charges due.‚  The mix of buy to let alongside home owner flats makes the management of residential blocks all the more strategic and vital to get right. One block we have taken on had never had service charge reconciliation. The lease owners did not know that the previous agents had consistently not collected in enough money to cover the running of the property.‚  Each year they were paying

In Conclusion - Wife Escapes to North Pole as Agent Takes to the Stage

It’s been a busy few months in the Southam family.‚  Roger Southam, Chairman and Chief Executive of leasehold residential property managers Chainbow, wowed the crowd at Party in the Park with his club-style performance of ‘In the Summertime’ in aid of the property charity Land Aid Trust.‚  So, popular was his performance that an audience of no less than 29 people have since eagerly logged on to You Tube to relive the experience. Meanwhile, Pauline Southam, Roger’s wife and new business manage

The insurance policy most often forgotten

In the excitement of buying or moving in as owner or tenant, taking out insurance to protect your‚  property is often overlooked. Some reports suggest nearly half of apartment owners and tenants lack contents insurance. So why are so many people not protecting themselves? From talking to customers, it appears to come down to two main reasons, a sense of improved home security, especially among those on the first floor and higher; and at the initial purchase, mortgage lenders not pushing contents insuran

Keeping your flats secure

ONE CRUCIAL requirement for any property owner is adequate insurance. For owner-occupiers, it is usually a simple matter of finding a policy that covers all insurable eventualities and rebuild costs. Ten minutes online should be enough to obtain several competitive quotes. Matters are far more complicated in the case of residential blocks where there are additional risks to cover, as many forms of ownership might be present under one roof and several facilities and amenities are used in common. Not onl

Will your insurance policy actually protect you?

BUILDINGS INSURANCE often forms a large part of any building service charge. It would not be unusual for the building insurance premium to represent some 40% of the total outgoings, and this often leads to a service charge disputes at the Leasehold Valuation Tribunal. Therefore, it is important to ensure that correct buildings insurance cover is secured and in particular that the sum insured is adequate. Great care is often taken to shop around for building insurance but very little thought is given to t

Cause and effect - Property Insurance

In a country whose favourite conversation topics are the weather, sport and house prices, the summer saw the national media enjoy a field day in what is normally a slow news season. While the Olympics provided a welcome ray of sunshine amid a wet and windswept summer, the UK property market continues to hit further lows weekly - a trend which seems to have no discernable end. Before considering the state of the commercial property insurance sector, it would be inappropriate not to delve a little further

Specialist flat protection - Insurance

Finding the right insurance for a property, and especially a block of flats, is a specialised skill - and that’s why an experienced broker is best option for all involved. Whether you need to buy cover for the first time, or renew, whatever your circumstances, this is an important decision. Quality cover should be available at a fair price - but that does not mean cheapest is best. At worst, you could end up with a policy riddled with exclusions - and face serious consequences from residents or other pa

Increased insurance premiums on the horizon

Try as you may to get alternative quotations the premium always seems to be more than you consider is fair and equitable. You are of course purchasing peace of mind for the year ahead. You may find it hard to stomach but premium rates are in fact at an all time low. Following 9/11 rates increased dramatically but in the ensuing years they dropped back to their former levels and in the last three years they have continued to nosedive to unprecedented low levels. Why is this happening? There may only be

Insurance - Choose the right policy for your flat

Insuring blocks of flats It might seem that one block of flats is just like any other so you might assume the cheapest policy will give the same cover as any other. But the scope of cover available can vary considerably from one policy to another and thus the cost will be higher. The basic rule is that cheaper policies tend to provide less comprehensive cover; unless, of course, you have consulted a specialist in the area of blocks of flats insurance. Getting it wrong can be a problem, because there w

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