The leasehold industry is a complex area and one that’s full of challenges. It is a great sector to work in.
The leasehold industry is a complex area and one that’s full of challenges. It is one of the worst sectors to work in.
Which of those statements is true? In short, both. Whichever way you view it, the leasehold sector is challenging, not least due to the complexities of the Law. If you ask someone today how they feel about this sector, you may hear a completely different answer to the same one asked the following week!
Could the same be said of any industry? Do people not fall in and out of love with what they do? Should we not just accept some days are good and others not? A good day in leasehold can have you riding the proverbial crest of a wave whilst the bad one can leave you wanting to pack it in and do something else. The industry has seen high staff turnover rates recently. Employment has always been fluid, the same faces popping up in different businesses. Nowadays though, it seems people don’t just leave an employer, they leave the sector.
What’s driving this? It isn’t one thing, it’s a combination. Unsurprisingly, there is a lot of emotion in leasehold. Leasehold management isn’t about looking after bricks and mortar or instructing contractors to undertake maintenance. It’s about the clients and those managing the homes, the safe spaces, the places people return to at the end of their working day, which for them might have ended badly. They just want to shut themselves away but somebody has parked in their space, or the lift has broken, or…..or……. This could be the catalyst of a bad day, resulting in a harshly worded email to the agent, who equally has had a bad day. We don’t need to try too hard to imagine how that scenario ends.
Emotion aside, what else is affecting attrition? Since 2021 we have seen the introduction of The Fire Safety Act 2021, The Fire Safety (England) Regulations 2022 and The Building Safety Act 2022, to name a few. Each of these brings significant responsibilities to the doors of any and all stakeholders. Agents need to be aware of these responsibilities so they can provide advice accordingly. Agents have particular skills, but being lawyers, health and safety specialists or building surveyors are none of them. Yet they are expected to understand and interpret the legislation and recognise how it impacts their daily lives and the lives of those around them. This is no mean feat. How then do they stay abreast of new legislation and still act in their stakeholders’ best interests?
One way is through training. Agents with robust training regimes keep staff updated on the changing landscape, avoiding issues and aiding the provision of exceptional customer care. Not all agents however have the luxury of providing tailored training. In all cases, agents may look outside their businesses for additional support.
Who better to provide training, guidance and support on legislation than somebody who’s immersed in it. Brethertons Solicitors are devoted to the leasehold sector, providing advice to clients across the industry. An award winning firm with award winning lawyers, Brethertons is a recognised leader in its field with subject matter experts always on hand delivering excellence in client service. We continue to grow and strengthen the team which has seen the welcome return to Brethertons of Mark North in the role of Business Development Partner.
The overriding objective is stability and success for our clients and stakeholders in a sector that flourishes. If you think we can help, we are simply a phone call away and ready to help.
Mark North – Business Development Partner at Brethertons
