We recently identified a situation where lessees have had their ground rent increased by the freeholder one year earlier than it should have been. The result is that the lessees are due a refund of £37 each plus interest. The lessees did not even know that an error had been made.
The biggest investment many people make in their lives is in property. In the current economic climate many more are forced to sub let bringing with it many pitfalls. Tenants who do not pay and managing agents who do not carry out their obligations - despite taking a fee - are just two of the problem areas which come to mind.
For lessees in residential blocks of flats legislation passed in recent years was intended to give greater control over the management and if properly undertaken this can be extremely beneficial to all concerned as a way of minimising costs and protecting the value of the investment.
However in reality apathy sets in, no one lessee willing to take responsibility for management and the intended close community which comes with this type of property set apart by sub letting results in management being passed to outside agents, usually not in the same postal area resulting in poor management and financial control.
Lessees only become aware when it is too late and the cost of righting wrongs can be very high.
CONTRAST MANAGEMENT LIMITED can take away your concerns with a low cost, high quality service. Why not make an enquiry now via the CONTACT page for more details?
