Beyond Enfranchisement.


16/07/2018
by: Mary-Anne Bowring

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Post enfranchisement the 4 main issues to deal with are likely to be:

Post enfranchisement the 4 main issues to deal with are likely to be:

  1. extending leases to 999 years.
  2. releasing asset value by:
    1. (a) selling parts of the title (lofts, porters flats),
    2. (b) selling shares in the Freehold Company to flats who did not participate initially.
  3. distribution of any proceeds raised.
  4. reviewing contracts with managing agents, cleaners, gardeners, porters and other services.

How Ringley can help 

Ringley's consumer interface www.leaseholdguidance.com is rather unique as their team comprises Valuers and Lawyers. A complete service to include enfranchisement, conveyance, lease extensions is available, but you only commit on a fixed fee basis to each stage you want, when you want it. The ever increasing legislation bearing on the property management industry from compulsory fire risk assessments and asbestos audits to prescribed wording on service charge demands means self managing is a rather daunting task.

So you are a new Director, unless you happen to be lucky enough to have a job in public sector procurement, knowing how to select best value and choose a reputable agent may be a minefield in itself but help is at hand, visit www.leaseholdersupport.co.uk and download the Tender pack for changing managing agents which you can then use on any agent you wish! Visit the Association of Managing Agents (ARMA - the trade body for the industry) which has a list of members at www.arma.org.uk. Cross reference these against the Royal Institution of Chartered Surveyors members (RICS) at rics.org.uk. A good agent then they should completely manage the handover process.


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Lease Extension, FH and Right to Manage

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