A Lifeline for Leaseholders

In response to the growing pressure on leaseholders due to increasing government legislation, The Ringley Group, one of London’s leading managing agents, has launched a national campaign to provide essential support. This initiative aims to address common leaseholder challenges and offer a lifeline to those facing the complexity of property management.

Understanding the Growing Pressure on Leaseholders

Leaseholders are dealing with more than just the financial burdens of property ownership. Since 2002, over 35 separate pieces of legislation have been introduced, making property management an increasingly challenging task. Common issues include significant fines for failing to file accounts on time or not meeting legal requirements like service charge consultations. These legislative hurdles have made it difficult for leaseholders to navigate the intricacies of property management without professional guidance.

The Blackacre 100: A Free Solution

To help leaseholders stay compliant and avoid the penalties that can come with improper management, Ringley has developed a range of packages. At the heart of this offering is the Blackacre 100, which is available free of charge. This package includes essential resources, such as advice on how to change managing agents, guidance on lease extensions, and information on the Right to Manage (RTM). Additionally, the Blackacre 100 provides access to a new leaseholder forum where users can share experiences and solutions.

Blockcare200: A Virtual Managing Agent

For those looking for more control, Ringley’s Blockcare200 offers a virtual managing agent solution. This software is designed to help leaseholders manage their blocks independently, with a suite of tools that includes budgeting and planning aids, along with pro-forms for easy management. By utilizing Blockcare200, leaseholders can reduce costs and avoid the extra fees often levied by traditional managing agents, especially for smaller blocks.

The Impact of Rising Legislation and Common Leaseholder Issues

Mary-Anne Bowring, Managing Director of Ringley, emphasizes the overwhelming nature of the legal landscape for leaseholders. With laws constantly changing, leaseholders face numerous risks if they don’t stay compliant. These risks include hefty fines from Companies House for delayed filings or even the threat of having the Freehold or Management Company struck off if required documents like the Annual Return aren’t filed on time. Ringley’s goal with the Blackacre range is to equip leaseholders with the knowledge and tools they need to stay compliant and avoid these costly issues.

A Solution for Small Blocks: Empowering Leaseholders to Manage Themselves

Small blocks often get overlooked by managing agents, who find them less profitable due to the time they require. As a result, leaseholders are frequently subjected to high management fees and minimal service. Ringley aims to change this with the Blackacre range, which empowers leaseholders to take control of their own property management. According to Bowring, the new software could help millions of leaseholders across the UK save a considerable amount of money by allowing them to manage their properties themselves.