A recent survey carried out by property asset management business the Livingcity Group has found that 60% of UK flat owners believe that independent bodies should regulate the management of blocks of residential flats.
The general mood amongst flat-owners appears to be one of frustration with most feeling that the marketplace currently offers inadequate protection to flat-owners. As it stands leaseholders have limited protections and despite efforts to persuade government to introduce new regulations, no progress has been made.
The demand for independent regulation is perhaps unsurprising when viewed alongside the following statistics:
• 53% believe that they need more input into the setting of the annual community service charge budget
• 38% were frustrated with the value for money they received from the service charge describing it as ‘poor’ or ‘very poor’
• 47% would be in favour of the residents managing the block they lived in
This mounting frustration at the seemingly inadequate job being done by professional managers could lead more people to explore the right to manage process. Whilst the right to manage requires full commitment from all involved and thorough planning, it does give residents the flexibility and freedom to improve the management of their block.
The survey also discovered that 3 managers felt that block management was ‘poor’ or ‘very poor’ for every 7 who believed that it was adequate or better. A certain degree of confusion about management structures was also discovered with 1 in 10 saying that they did not know how their block was managed. A third of those surveyed had not even received the right advice before buying the flat and therefore were unaware of their obligations as a leaseholder
Our lease enfranchisement solicitors can help you with your property
Are you not getting a fair deal from the management of your block of flats? Our enfranchisement solicitors have the expertise needed to help you with your right to manage company, lease extension or leasehold enfranchisement matter.
Dial 0800 1404544, or
Complete the contact form below to get in touch.
Comments or questions are welcome.