Conference squares up to looming issues for lessees' management companies by Jo Jacobius
It is estimated that there are now over 54,000 blocks of flats where the long leasehold flat owners control the management of their property; and under current government legislation this is set to grow dramatically. However this very same legislation is increasingly making it difficult for lessees to manage such properties.
Rights of individual lessees are being increased and this helpful where they stop the abuses of outsiders who have control. However, these rights can also cause problems where the lessees are in control, creating cash flow problems for the Residents Management Company (RMC) and often angst for the volunteer directors; the latter leading to a lack of volunteers which in turn could lead to the company being struck off.
Such issues are being addressed at a Conference being run by the Association of Residential Managing Agents (ARMA) on 5th October 2006 at the Queen Elizabeth II Conference Centre, Westminster when key industry representatives will look at the impact some lessees can have on their neighbours and the interdependent communities they live in and what can go wrong with their RMCs.
The Conference will also be reviewing numerous financial and legal aspects of managing blocks of flats, the need for increasing communication between all the stakeholders and how to deal with the ‘expectations gap’.
“This is our 11th Annual Conference” states Duncan Rendall, ARMA’s Chairman, “and because of our move to the QEII Conference Centre we can now accommodate over 450 delegates. This year’s line up, I believe, has something for everyone whether they be RMC directors, professional managing agents, accountants, lawyers or service providers.”
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