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BREAKING NEWS BUY-TO-LET BUBBLE TO BURST? This year’s rate rises have led to warnings that the buy-to-let bubble is set to burst, but despite Wednesday’s 0.25% increase, the market in London remains healthy. Investors who have a coherent strategy, correctly assess their exposure to risk and take a long-term view will continue to benefit from well-chosen residential property investments. Neil Young, CEO, Young Group, comments: “London’s strength is as a World-City, and its market is decoupling from the

ISSUE 34 OF NEWS ON THE BLOCK MAGAZINE IS DUE OUT SOON The July issue of News on the Block magazine will be sent out soon and includes a wide range of articles on topics such as how to avoid paying your service charge; how to enfranchise; the buy-to-let market; an insurance special feature; an interview with Vera Baird QC MP, a new business section; health & safety and much more. See our fabulous subscription offer below. Sign up today so you never miss an issue. -----------------------------------------

NEW BUSINESS PAGES IN NEWS ON THE BLOCK – we need your stories! The July issue of News on the Block magazine will see the launch of a new business section. In this section we will be interviewing business personalities, reporting on the latest residential news, views and gossip, and filing your case studies. These pages will not exist unless we hear from the industry, in other words from you. We need you to send in your latest news and photographs on the following areas: (Deadline for July issue is Ju

BREAKING NEWS HIPs update The housing market has been thrown into further confusion following the announcement that the launch of Home Information Packs (or HIPS) is to be delayed, says Angela Hesketh, Head of Residential Property at Homeplus. HIPS were due to become mandatory for all sellers of residential properties with effect from 1 June, 2007. The HIP was designed to provide prospective buyers of properties with a useful set of information surrounding the property including energy performance ra

In our inbox this month: Dear News on the Block, Among the various helpful articles in the March 2007 edition of News on the Block I was particularly interested in Nicolas Shulman’s on owning flats in England and Wales. I am the secretary of a leaseholders’ management company that owns the freehold of our two adjacent blocks, with a total of 24 flats all of which are on 999-year leases. We manage it through a council of management without a professional agent. My question to Nicolas Shulman is whether co

Sue Kaye is the Chairman of Addison House Residents Management Company Ltd, a block in London. The leaseholders in her block purchased the freehold following a 15-year battle. She describes the process. DOs  • Make sure you have a strong Residents Association to organise the work. The work involved is intensive and requires concerted effort and good communication with the other owners. Starting without this is could be very difficult indeed. • Have a Chair who will drive the whole process through.

Mick Barry, senior partner of Farrington Webb, updates News on the Block readers on enfranchisement. By now most people would have heard of the Sportelli decision that fixes the deferment rate for flats at 5%. The deferment rate is the rate at which the current unimproved value of a flat is discounted over the remaining term to reflect the fact that the landlord will no longer get the flat back at the end of the original term. Previously, certainly outside of central London, valuers had been working on

We’ve got a good little community in my block. We look out for one another. But when I resigned as chairman of the residents’ management company, I seriously considered moving. A six-year stint of querulous emails and knocks on the door at all hours had taken its toll. I‘d developed the habit of sneaking out with the garbage in the dead of night to avoid being trapped by yet another resident complaining about the cost of the roof repairs, or the noisy sub-tenants next door or a missing lightbulb. Fate d

In this light-hearted yet thought-provoking sketch, leaseholder Jane Bayliss gives a fascinating insight into the machinations of life within a seaside block of flats. (All names have been changed!) After our flats management company’s Annual General Meeting last summer I received an unexpected card from an 85-year-old neighbour saying, ‘Thank you – that was the least confrontational meeting I have attended in 10 years at Seagull Towers, and I no longer dread the sound of letters plopping through my lett

When it comes to the mistreatment of leaseholders, some of the very worst’¨offenders are not the archetypal greedy private landlord of fairy tale fame’¨– but rather public authorities, namely local councils and housing associations. Councils as bad landlords are unfortunately ubiquitous, says Mira Bar-Hillel. Some leaseholders feel that their council resents the very fact of their being home owners and takes it out on them at every opportunity. Sad to say, housing associations can suffer from the same kn

The issue of saving the environment is high on most peoples’ agendas, and anyone involved with the day-to-day property management of residential schemes, whether a landlord, developer, freeholder, resident management company or right-to-manage company, will be on the look-out for ways in which they can be more environmentally sound. The use of web technology, such as Peverel OM’s Avenue to facilitate the day-to-day running of a residential management scheme is one way in which this can be achieved. Aven

When it comes to experience within the property management sector few can boast the level of experience and expertise that Gerry Fox has to offer. Gerry was the founder Chairman of the Association of Residential Managing Agents (ARMA) and still remains an active Council member. Now working as a Regional Director for Peverel OM Ltd, one of the country’s leading property management agents, Gerry’s career history within the sector spans over 40 years. A Fellow of the Royal Institution of Chartered Surveyors