All flats require maintenance, repairs, improvements and such like from time to time. These have to be paid for and this achieved by making a charge upon each flat owner called a service charge. Flat owners often want the highest-quality maintenance at the lowest cost possible, and achieving this delicate balance is not always easy. As a result, service charges have probably become the most frequent and contentious source of dispute between flat owners, building owners and managing agents.
This section is full of articles where you can discover what a service charge is, when and how it can be collected, what it can be used for, in what circumstances it can be challenged as well as lots of further information about the law of service charges. If you have more questions, require further clarification, or want to suggest an article don’t forget to contact us, comment on an article or leave a comment in our forum.
Millions of pounds held on deposit as service charge monies could become the latest victim of the economic downturn.Thousands of anxious flat owners around the country are trying to clarify if their money is at risk. It is not clear if service charge monies will be protected if the bank in which funds are deposited ceases to trade.
If you're going to fall victim to the recent credit crunch, you might as well do it in style. Fallout from the financial downturn was felt across London's Canary Wharf district, but nowhere was it more obvious than at Ballymore's flagship residential development, Pan Peninsula.
For many people, the summertime means enjoying relaxing picnics in the sun. There is one particular insect associated with this season however, which evokes fear, distress and annoyance in many picnic goers: the common wasp. Despite being a pest species, many people don't realise how interesting and complex these social insects are. So should we treat wasps with fear or admiration?
The recent hike in capital gains tax to 28% by the new coalition Government has been met with caution by the property industry, as it will affect many who have invested in flats.
More financial advisers think their clients should consider commercial property as an investment compared with residential property, according to the latest survey of Independent Financial advisers (IFas) by rEITa.
The latest Government house building data shows that the number of starts rose in the first three months of this year to the best level since the second quarter of 2008. Despite this, starts are currently only running at around 50% of the level achieved at the high water mark of the previous cycle.
The Federation of Private Residents Associations has called for a change to the Landlord and Tenant Act that would allow for ‘reasonable' insulation to be carried out to blocks of flats as part of the service charge.
Mainstay group , the national property management and facilities company, has purchased Market Focus Asset Management (MFAM) based in London. MFAM specialise in the management of mixed use, residential and commercial property.
Over 50 property managers celebrated together in London as England beat Slovenia in the FIFa world Cup 2010. The event was jointly hosted by News on the Block and Sky Homes.
RMG property management has successfully generated over £400k worth of business from the north of England. Justin Herbert, RMG's Operations Director for the North, said: "Customers recognise the benefi t of regular site visits, full transparency and accessibility to Property Managers, quarterly meetings and site audits, as well as the value for money and customer service provided by RMG."
Stonedale, the specialist London based property management company has appointed Andrew Lyle as its new Head of Operations. Andrew boasts a career that spans over 20 years in property management, having worked for a number of high profi le managing agents in London. In the 18 months since joining the Stonedale team as a Senior Property Manager, he has managed developments in Docklands, Limehouse and Clerkenwell.