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Neil Young, CEO of Young Group, commenting on the latest Young Index figures, points out: “Mark Twain famously said ‘Reports of my death have been greatly exaggerated’; the same can be said of the buy-to-let industry. Young Index data shows that investor sentiment remains extremely healthy, particularly in the capital. As with any investment asset class, it’s imperative to scrutinise each opportunity carefully and ensure that it is supported by sound fundamentals. In the case of buy-to-let, investors need

B2L still strong Investors will continue to purchase good quality buy-to-let properties in the right location, for the right price, says Imagine Homes in spite of recent speculation. Group sales director, Marc Lafferty is confident that strategic developments and strengthened overseas operations will support the company’s ambitious expansion strategy. “Buy-to-let is about buying well. For Imagine Homes, it is a question of picking our developments carefully. Imagine Homes only select new-build properties

Q: Tell us about the history of the Berkeley Group? A: Originally I worked for Crest Homes, which is now called Crest Nicholson. I left them in 1976 when I was 27 years old and founded Berkeley. The purpose of Berkeley was to build a small number of large detached houses in the leafy lanes of Surrey. Our logic was simple: we provided a bespoke service (very unusual in those days), for example letting people choose their own kitchens and bathrooms. Berkeley stayed with that business model for a number of y

Q: Could you start by telling us a little bit about your background and how you came to be chief executive of the Leasehold Advisory Service? A: Certainly. I studied for a degree reading law. On completion of that I joined the Bar in Gray’s Inn – the work I was doing was general common law work such as housing, crime, a tiny bit of family, that sort of thing. I first contacted LEASE with the intention of trying to find a niche in property law, and to get a handle on the issues that were arising with a vie

RMC director Bob Smytherman talks to News on the Block about how residents in his block have benefited from Yourblockonline.com Bob lives in a block of 46 flats in West Sussex. The building is run by a self managed residential company and Bob is involved in the management. Just under a year ago Bob played a pivotal role in signing his block up to yourblockonline.com – the free service for people in blocks of flats. “When I first moved here 16 years ago a large number of the residents were elderly, but gra

Helen Matthews, Partner and Head of Contentious Property at Bolt Burdon writes that from 1 October 2007 every demand for service charges must provide leaseholders with information on their rights in relation to those charges. Section 153 of the Commonhold and Leasehold Reform Act 2002 came into force on 1 October 2007 amending the Landlord and Tenant Act 1985 by inserting a new section 21B. The new section only applies in England with Welsh commencement soon. Under section 158 of the 2002 Act landlords mu

Housing minister Yvette Cooper is today expected to announce a review of the private rented sector by an academic at York University. It is thought that the review would be similar to the Hills Review of social housing, published earlier in the year. The news comes as the Citizens Advice Bureau reveals the scale of home owners saddled with mortgages they cannot afford, while the MoD admits spending £11m renting army homes from private landlords because of a lack of supply. The property industry believes

The magazine in your hands is our biggest yet. It seems the issues and topics surrounding the residential leasehold sector grow every day. We always attempt to be one of the first to explain and write about the latest changes to leasehold law. In this issue John Mills bemoans the fact that five years since the Commonhold and Leasehold Reform Act the requirement for annual statements of account has still not been implemented. Also in this issue Mira Bar-Hillel tackles head on the issue of insurance com

This month Jane Bayliss recalls some of the trials and tribulations her block managers have faced in the past when it comes to carrying out refurbishments (and justifying the fees) in her seaside block of flats. ‘Vot ’ave ve done to deserve zis?’ the indignant Middle European tones of Mrs Ponsonby wail down the phone. ‘£10 more zis quarter for maintenance!’ It’s all been explained in the annual budget, and Mrs Ponsonby is a rich widow. ‘I don’t know what you’ve done to deserve this, Mrs Ponsonby – why do

The long awaited Sportelli verdict finally has been handed down. Kerry Glanville, partner at Pemberton Greenish, analyses the Court of Appeal’s decision. The long anticipated decision of the Court of Appeal in a series of appeals against a decision of the Lands Tribunal that have become known, collectively, as the Sportelli appeals has been handed down today. Appeals on the issues before their Lordships have been dismissed with the result that: * Hope value is not to be included in the price payable

The Commonhold and Leasehold Reform Act 2002 created a new “no fault” right to manage on the part of leaseholders who can now force their landlord to transfer the management functions to a special kind of company, a Right to Manage (RTM) company. The Right to Manage is a group right for leaseholders of flats to manage the building; there is no need for the landlord to consent to the establishment of an RTM company and no order of a court or LVT is necessary; there is no premium to pay to exercise the ri

Leaseholders pay substantial sums in service charges to their landlords every year, so you would expect that there would be a requirement for landlords to give in return a statement of account of how the service charges were spent. Not so, says John Mills of the Association of Retirement Housing Managers. There is a legal right for any leaseholder to ask for a summary of expenditure from the landlord but no more. In practice good agents do supply regular statements of account each year. In 2002 the govern