Instead of insisting that landlords undertake impractical assessments of a leaseholder’s ability to pay, let’s remove the legal roadblocks so landlords can start putting sensible rolling reserve plans in place. Let’s educate the public about the dire financial implications of pushing works into the future. Give leaseholders all the data they need at the start of each financial period to show how much money is being put away and for what purpose. Parliament must put the measures in place to encourage sensible estate management which will reduce the level of decaying UK housing stock and improve the appearance of our high streets.
Read our full article on the subject here: Reserve Funds – A Statutory Requirement
Written by Joseph Mallon MIRPM AssocRICS
JFM Block & Estate Management