© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
Mary Anne Bowring of Ringley outlines some of the issues newly enfranchised blocks are likely to face in the future.
Post enfranchisement the four main issues to deal with are likely to be:
* Extending leases to 999 years;
* Realising asset value by (a) selling parts of the title (lofts, porters flats, etc) and (b) selling shares in the Freehold Company to flats who did not participate initially;
* Distribution of any proceeds raised;
* Reviewing contracts with managing agents, cleaners, gardeners, porters and other services.
Ringley’s consumer interface www.leaseholdguidance.com’s 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.
You could also visit the Association of Managing Agents (ARMA – the trade body for the industry) that has a list of members and other useful information 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 should completely manage the handover process.