Stand up to the bullies in your block

Article Abstract:

Freehold management companies in the UK should be aware that they are subject to many legal provisions which apply to other forms of company. Shareholders or lessees have the right to a summary of relevant costs in relation to service charges, for example, and the summary must be certified by an accountant who is not connected with the management company if there are more than four flats in the block. The directors of the management company face prosecution if they do not permit shareholders or lessees to inspect accounts, receipts and other relevant documentation.

Lessors of Real Estate, Real Estate Operators and Lessors, Real Property Lessors, Landlords, Real estate management firms, Tenancy in common

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'My home should be my castle. It is more like a prison.' (potential problems when flat-owners purchase freehold)(City +)

Article Abstract:

Flat-owners who jointly purchase the freehold of their property can sometimes find themselves coming into conflict with the management body. Tensions can arise when the flat-owners request information from the management body, and there have even been cases where the management body seems to be deliberately intimidating individual residents. In order to avoid problems of this kind, it is important to check your lease with care. Those who have a share in the freehold management company are entitled to seek enforcement of company law relating to unfair prejudice.

Apartment Management, Real Estate Property Managers, Housing management

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A common distrust of sharks

Article Abstract:

The UK government's consultative document on leasehold reform is set to address a range of areas of potential conflict between flatowners and landlords or managing agents. Strict regulations or standards may be imposed on landlords and managing agents, possibly through an ombudsman scheme. Attention is also likely to be given to collective enfranchisement, which involves a group of leaseholders jointly purchasing the freehold from a landlord. This process needs to be simplified and strengthened with a statutory right of participation.

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