Buying, selling and letting - Monday, October 08, 2007

 Monday, October 08, 2007
Good lighting really does transform a home, but it can be a difficult task to master. Leading electrical regulatory body NICEIC offers some practical advice on how to get to right.

Well positioned lights will really help to enhance the mood of a room, but just how much light is needed to create the right effect? One way to determine the correct light levels for a home environment is to measure the room size in square metres and multiply this by 25 for incandescent lamps, 15 for halogen lamps or 19 for compact fluorescent lamps. This will give you the total watts required to light the room.  It’s best to place lights at a height where the bulb can’t be seen directly to avoid and reduce any glare. Don’t hang pendants so high that the bulb is clearly visible underneath from below and if lights are to be positioned over or near reflective surfaces make sure they have a diffuser.

The lighting for each room in the house will depend on its function, and the following tips will help you decide which light sources are best.
The living room Used for relaxing, entertaining, socialising, reading and watching TV, the living room is a multi-functional space. Work out where your furniture will be positioned and where you need lighting. That way you can advise your electrician if new sockets need to installed and so avoid long cables and flexes running across the floor.

Aim to use plenty of different light sources so you can create different levels of lighting.
One central pendant light with up lighters and table lamps placed around the perimeter of the room will create a feeling of more space as the light radiates inwards. Floor lamps are effective at brightening up dark areas where it’s tricky to fit wall lights. Just one chandelier situated in a living room can provide an element of glamour – they were traditionally lit by candles so use a low wattage bulb to give the same subtle affect.

The kitchen Lots of light is required in the kitchen. Under unit lighting is important to cast efficient light over work surfaces and a good ambient light is also useful. Downlighters in the ceiling creates a glare free effect while remaining functional, but it’s important that each spotlight is fitted properly with a fire hood. Pendants aren’t best suited to kitchens as they attract grease and dust.  
The dining room How you light this room depends on its style, but usually the main light source is hung over the dining room table, which can then be supplemented by wall lights and table lamps. You could also fit a rise and fall pendant, which can be adjusted to the desired height. If candles are used ensure they are far enough away from the light fitting. Long dining room tables look great with long lights suspended on wires.

The bathroom For make-up application and shaving it’s best to have a bright light, but if relaxing for a soak in the tub you’ll want to be sure you can dim the lights. Wall lights must be out of reach, or enclosed to keep water out, especially spotlights that are installed above a shower. Lighting can be controlled by a wall switch, which must be mounted outside the bathroom. Some mirrors have sections of the reflective surface removed and lights fitted behind. You can also use LED floor lights, which are set into the floor and come in different colours.

The bedroom Here you can really be creative with your lighting scheme, using bright neon colours or sparkling fairy lights. The right lighting will help you create a relaxing retreat to wind down and get a good nights sleep, but be sure to include more general lighting for getting dressed in the morning. Adjustable reading lamps are ideal if one of you is reading or watching TV while the other sleeps. They can be mounted on the wall, hotel style, or they can be fixed to the bed head or used as table lamps. To make the most of your dressing table make sure it is lit from both sides of the mirror, so it doesn’t cause shadows across your face.
To find a registered electrician in your area visit findanelectrician.info

General tips

Bright light is not always good light
Different effects are produced when light is reflected by surfaces, so consider this when you are deciding where to situate lights
Direct lights are best for reading or working
Lights can also be used to highlight features such as paintings or objects and help add atmosphere to a room
For multi functional rooms install a dimmer switch so you have the option of more light for reading or working and lower light levels for relaxing
Incandescent bulbs give off warmer colours and will help achieve a cosy atmosphere, while fluorescent light bulbs will offer a cooler but more efficient light for utility rooms
Dark coloured rooms absorb more light, so additional light will be needed
If you have a feature wall or coloured surface, illuminate it with lighting to add colour

posted on Monday, October 08, 2007 8:32:49 AM (GMT Standard Time, UTC+00:00)  #    Trackback
 Tuesday, October 02, 2007
The Exeter office of Savills has been instructed to sell Waterside House set in the sought after village of Stoke Gabriel in the famous South Hams region of South Devon.

As the name implies, Waterside House is perfectly located on the water’s edge, enjoying spectacular views from the many windows, balconies and terraces over the unique Mill Pool to the deciduous wooded banks beyond or down stream to the tower of the parish church of St Gabriel and St Mary with the River Dart beyond.  With steps leading down to the river via the terraces and balconies, the house is ideally placed to enjoy not only the water frontage, but also the south Devon countryside, Dartmouth and Totnes being about 4.5 and 5 miles away by boat and Torbay about 6 miles away.  The stylish accommodation includes a master bedroom suite with river balcony, a guest suite, 2 further bedrooms, open living space with dining area, sitting area, kitchen, laundry room, study, cloakroom, family bathroom, shower room, games room with kitchenette, studio and workshop and would provide the discerning owner with a property which is just perfect to entertain in.

Stoke Gabriel is picturesquely scattered on the east bank of the estuary of the Dart and is surrounded by beautiful and unspoilt undulating countryside.  This ancient and unspoilt village retains much of its period charm with records showing that a church has been in the village as far back as when William the Conqueror defeated King Harold in 1066.  Set within the church grounds is the famous yew tree reputed to be nearly 1300 years old and rumour states if you walk backwards round the tree three times your wish will come true!

Richard Addington of Savills says “Looking over the Mill Pool at sunset from the balconies is amazingly calming.  Whether you had this house for a permanent or holiday residence, the benefits are obvious”
Waterside House is being offered for sale at a guide price of £1.5 million.

posted on Tuesday, October 02, 2007 11:41:53 AM (GMT Standard Time, UTC+00:00)  #    Trackback
Tax may well be playing on the mind of many property investors as they prepare to file their self assessment tax return. Although the final deadline is the end of January next year, for those who want the Inland Revenue to calculate their tax for them the deadline 30 September.
The problem for many investors is that the complexity surrounding tax issues means it can be very hard to know what is and isn’t deductable – the end result being that investors can end up paying too much or too little in income and capital gains tax.
Before you tackle your tax return this year it is worth ensuring you have considered everything you can to correctly minimise your tax bill.

GET ORGANISED

Property investors need to be organised. A separate bank account should be set up and investors should keep track of rental income and expenditure, holding on to all relevant receipts. Hiring professionals such as accountants and solicitors will help to make the process much easier. Any professional or legal fees can be offset against the rental income. However, fees incurred during the actual buying process cannot be claimed until the property is sold.

SINGLE OR JOINT OWNERSHIP

If the property is owned by more than one person then careful consideration needs to be given to the form the ownership takes, whether it is joint ownership, partnership or through a syndicate, each method will have its own tax implications. As the Inland Revenue assess income individually, each legal owner of the property is required to submit an annual return.

OFFSETTING EXPENSES AGAINST RENTAL INCOME

Income tax is payable on rental income after allowable deductions have been taken into account and the list is extensive when it comes to what is and isn’t deductable. Investors can offset costs including utility bills when properties are empty, management agents’ fees and interest paid on borrowing costs, including mortgages and loans.
In addition, costs relating to repairs of maintenance can be offset. However, improvements made to a property, such as adding a conservatory are not tax deductable, but they can be offset against the capital gains tax liability when the property is sold.

RUNNING YOUR PROPERTY AS A BUSINESS

A buy-to-let property should be treated as a business and as such certain costs associated with running the property are deductable. These include marketing and travel costs and office costs such as a proportion of the utility bills and office equipment.

EXIT STRATEGY

When it comes to selling the property there is likely to be capital gains tax on any profit accrued on the property, which could be up to 40 per cent. However, there are steps which you can take to reduce the bill. For example, you can claim exemption on the tax for the period you have permanently resided in the property and the final 36 months of ownership, irrespective of whether you have lived there. Other tax breaks include taper relief and personal capital gains allowance of up to £8,500.

PLAN FOR THE NEXT GENERATION

It is vital to plan for the next generation and to protect your assets from inheritance tax (IHT). The current threshold is £300,000, which means you are likely to be liable for inheritance tax, especially if you have a portfolio of properties. However, there are various methods for reducing IHT. It is worth consulting a professional to ensure you minimise your family’s bill. It is essential to make a will, to ensure your estate is passed on according to your wishes and if your property is overseas you should seek inheritance tax advice and write a local will, as your British will might not be accepted.
Whether you are buying in Britain or overseas you need to be fully aware of all the tax implications. Don’t be fooled into thinking you won’t be found out, the authorities now have the power to discover exactly what your income is whether it’s here in Britain or overseas. Be prepared, pleading ignorance will never count in your defence.

David Austin is managing director of Property for Life. Visit propertyforlife.com

posted on Tuesday, October 02, 2007 11:40:38 AM (GMT Standard Time, UTC+00:00)  #    Trackback
 Tuesday, September 25, 2007
Most people rent because they believe they cannot afford to buy. But what if there was an option to own a place for the same or less than what it costs to rent? Amanda Shiel spotlights one such competitively priced development.

Milliners Place combines the conversion of a former hat factory three new buildings on Midland Road to create 119 luxurious one-, two- and three-bedroom apartments. Situated in the town centre, Milliners Place is a five-minute drive to the M1, making the North and South of England easily accessible. It’s also a short walk to the train station, which offers the town’s commuters fast trains to London’s St Pancras in just 23 minutes and an easy commute to Luton Airport. 

Redeham Homes has sensitively converted Milliners Place to retain the building’s original Georgian architecture, while creating stylish apartments that maximise the available space and light. The apartments have been built to a high specification including a choice of kitchen designs incorporating an integrated stainless steel oven, extractor hood, fridge/freezer and washer dryer. A choice of layouts includes open-plan and semi-open plan styles as well as those with separate kitchens.
The contemporary bathrooms include Roca Laura wall-hung white sanitaryware complemented by Grohe fittings, thermostatic showers and heated towel rails. To provide purchasers with an added level of style and luxury, a range of the apartments include en suite facilities to the principal bedroom. Some of the apartments also benefit from balconies or terraces. Private parking is also available at the development.
Milliners Place is ideally situated for Luton’s wide range of facilities and amenities including the Arndale Centre, which is within easy walking distance.

Prices for the remaining apartments at Milliners Place start at £130,000 for a one-bedroom apartment and from £170,000 for a two-bedroom apartment. For further sales information contact Redeham Homes on 01582 456692 or visit redehamhomes.co.uk.

posted on Tuesday, September 25, 2007 10:51:52 AM (GMT Standard Time, UTC+00:00)  #    Trackback
 Tuesday, September 18, 2007
We look at a no-nonsense guide for landlords who let to students
 
The Landlord’s Guide to Student Letting is an invaluable guide to understanding the continuous flux of a profitable market and the legislation attached to it.

Written by seasoned student landlord Catherine Bancroft-Rimmer, it is candid about the pros and cons of student letting, making complex and confusing legal procedures easier to understand and act on.
Sample letters, forms and useful addresses of organisations are included to help the landlord. Rimmer also takes into account the long-term view of the student letting market nationally and shares her knowledge about potential future changes made by the government which will have a long term impact.
If you’re interested in investing in student housing, The Landlord’s Guide to Student Letting will arm you with information about your rights and responsibilities and prepare you for the highs and lows of landlord life.
 
The Landlord’s Guide To Student Letting by Catherine Bancroft-Rimmer is published by How to Books Ltd and is available at £10.99 in major bookshops and online retailers.  
howtobooks.co.uk

posted on Tuesday, September 18, 2007 10:26:03 AM (GMT Standard Time, UTC+00:00)  #    Trackback
Lettingagent.com offers advice for those considering entering the student property market.

Letting to students is a popular way to realise value from your property investment. But there are things you should keep in mind to help ensure success.

Think carefully about location Local knowledge is invaluable. Know where the ‘student areas’ are and be wary of up-and-coming areas. Similarly, avoid places where students wouldn’t want to live in or would not be welcome. Not all university towns are equally profitable. Do research by talking to local agents about what yield to expect.

Choose a reliable letting agency An efficient, experienced and professional letting agent is crucial for landlords with demanding full-time jobs. A third party can save the hassle of dealing directly with tenants when things go wrong – and can save a considerable amount of money in property repairs. Landlords should choose letting agents that are registered with an official organisation, such as the Association of Residential Letting Agents (ARLA).

Register with the uni accommodation service Being on the university database is an easy way to advertise a property directly to students and offers them a quick, hassle-free way to access property details and managing agent’s contact details.

Be aware of health and safety regulations Landlords should pay particular attention to the HMO Licensing and Housing Act legislation to ensure that they comply with the rulings and any recent amendments. Those renting flats to students should check this information carefully as some are exempt from certain clauses.  

Insert a clause in the lease to allow for potential damage This will allow for circumstances where students fail to follow the procedures required (for example, where damages are caused). Students should be given a clear inventory and a flat inspection should be carried out the first day of tenancy so that breakages or damages can be noted at the end of the term. A list of emergency numbers and useful contacts and dates (e.g. ‘bin day’) can also prove very helpful.

Get referencesTenants must have a reference from their previous landlord. An untrustworthy tenants means hassle, worry and expense. Make sure the rental contract clearly states when the rent is due – and in what format – to help avoid any problems over rent payment.

Consider what a student needs Student properties don’t need to be cluttered with accessories that are more than likely to be broken during the course of their tenancy. The interior should be comfortable, clean and functional with desks, chairs, bookshelves and lamps in each bedroom.

Avoid false economies Though no one would advise buying expensive carpets, curtains or sofas, the furniture provided for students does need to be hardy and able to withstand a bit of ‘wear and tear’.

Get building insurance This is important for all buy-to-let properties. Make sure your property is adequately covered – even something as small as a burst pipe could end up causing thousands of pounds worth of damage. Building insurance will sometimes cover a limited amount of public liability, so landlords should check the wording of agreements carefully.

Sort out council tax forms Properties occupied only by students are exempt from council tax. Ensure all tenants fill out the relevant forms and return them as soon as possible.

posted on Tuesday, September 18, 2007 10:23:06 AM (GMT Standard Time, UTC+00:00)  #    Trackback
 Tuesday, September 11, 2007
mform.co.uk analysis reveals average first-time buyer could be borrowing £200,000 by 2012.

Analysis of industry data by online mortgage company mform.co.uk reveals that between 1996 and 2006, the average mortgage taken out by first time buyers has increased by 173.6% or around 10.7% a year.  If this continues, mform says that by 2012, the average mortgage taken out by a first-time buyer will top £200,000, up from around £120,500 today or £39,811 in 1996. 

Year    Estimated median first-time buyer mortgage    
2008    £133,468.32   
2009    £147,746.94   
2010    £163,553.11   
2011    £181,050.25   
2012    £200,419.25   
2013    £221,860.37   

Francis Ghiloni, mform.co.uk marketing and business development director, said: “First- time buyers increasingly need to find huge sums of money in order to get on to the property ladder.  For a first-time buyer to take out a mortgage that is three times their salary today, we estimate that they would need to be earning £40,190, but by 2012, it would need to be a staggering £66,806.

mform.co.uk, which allows customers to compare mortgages based on the true cost including rate, fees and other features, says that many first-time buyers can dramatically cut the cost of their mortgage by making sure that they search the entire market for the best deal for them.

mform.co.uk offers consumers a free, unique and innovative online service enabling them to conduct the most comprehensive search of mortgages available. It allows people to identify all of the key features and benefits of every mortgage, and calculate its true cost in terms of rates and charges. This helps consumers develop a personalised list of best-buy mortgages that meet their specific needs.
The search process is free of confusing sponsored links and there are no distracting adverts from lenders during the mortgage search process. mform.co.uk is completely independent and it feels that adverts might unfairly influence a person’s choice of mortgage. Users of the service are able to link through directly to lenders’ mortgage application departments.
The service, which is free and easy to use, can be found at www.mform.co.uk.


posted on Tuesday, September 11, 2007 9:06:38 AM (GMT Standard Time, UTC+00:00)  #    Trackback
Property investors are gaining in experience and confidence, according to a specially commissioned London Landlords’ Day survey from Landlord magazine. Even as the stock market felt the effects of the US sub-prime crisis, the reponses point to was optimism in the market.

Among the findings of this survey was the fact that readers of Landlord are fairly evenly divided in terms of the value of their portfolios; 21 per cent own between £250,000 and £500,000 worth of property, while the same percentage controls a portfolio spanning the £1 million to £2.5 million range and a further 20 per cent bridged the gap with ownership of property totalling between £500,000 and £1 million.
Among the remainder, representing the extreme lower and higher ends of the value spectrum, only six per cent owned under £100,000 worth of property, while a surprising number possessed a portfolio of £2.5 million to £5 million (nine per cent) and nearly as many (eight per cent) owned over £5 million worth.
The ratio of male to female readers is 65:35 and the average reader owns 9.5 properties.
Concerning the recently introduced tenancy deposit protection (TDS) system, almost half (49 per cent) of those who have agreed an AST since its April start have used Deposit Protection Services, while 17 per cent have opted for Tenancy Deposit Solutions. Nearly a quarter (24 per cent) have opted not to take a deposit at all, and nine per cent prefer an insurance-based alternative.

Optimism is the rule of the day for Landlord readers. Forty-seven per cent of the landlords expect positive performance from the private rental sector over the next 12 months, while 14 per cent expect very positive perfomance and three per cent go so far as to say the future is extremely positive. Thirty per cent expect no change, while six per cent are expecting poor performance.

posted on Tuesday, September 11, 2007 9:04:59 AM (GMT Standard Time, UTC+00:00)  #    Trackback
 Friday, August 24, 2007
De-cluttering expert Sue Kay found herself drawing on the advice she gives to clients as she traded her East Finchley home for a central London pad. Johnny Turner talks to her about the move, our shopaholic culture and the psychology of having too much stuff.

In this must-have, must-shop world it is worth stepping back occasionally and wondering why we have accumulated what we have. When I moved six months ago, I went through two culls of paperbacks and still had two copies of some novels; ridiculous as it sounds, I couldn’t decide which cover I liked better.
And a pile of VHSs when I no longer have a working VCR?
Which leads me to a catchphrase that, however inappropriate when considering the clutter of others, is very tempting to use when looking at my own: ‘How sad is that?’

Sadness, of course, cuts to the heart of why it is difficult to let go of things. For Sue Kay, de-cluttering expert and author of two books on the subjects, a degree in psychology is a useful tool when dealing with clients. ‘It is emotional,’ says Kay over the phone from her new Marylebone home. ‘You’re coming across things from your past – maybe you’ve lost someone or had a difficult breakup.’
As in the song ‘These Foolish Things’, mementos trigger longing for what was: ‘A cigarette that bears a lipstick's traces / An airline ticket to romantic places / And still my heart has wings …’
So why should we part with what makes us nostalgic? ‘You’re moving your life forward, and to do that you have to let go,’ she says. But this forward motion is not without a price, as we all know. ‘There’s a always a tweak – and a tweak for me may be a pain for someone else.’

Our homes have emotional power in our lives; the need to feel secure is, after all, one of our most basic driving forces. Sue is very aware of this and with her easygoing, friendly style she makes it easy to look honestly at your habits with regard to your possessions. ‘I’m not here to judge or bully you,’ she says. ‘I would never tell you to get rid of something that’s important to you.’ The key to the de-cluttering process, says Sue, is ‘standing back and looking at something and asking “why?”’
I wonder whether, in moving from quickly gentrifying north London to Marylebone, an area that boasts a peculiarly urban mixture of the cool and the chaotic, she found herself having difficulty living by her own teachings?

‘I could feel the piles of paper starting to build up for a while – that feeling of, where are things? It’s good to reconnect with that.’ Somehow I doubt those piles of paper got too high, for she is a true believer in letting go of things that don’t serve a purpose. Clutter, according to Sue Kay, is defined as ‘things you no longer use or love’. Many people have a mistaken idea of the process, she finds. ‘Sometimes they confuse it with being puritanical but it’s not that at all. Being organised doesn’t mean you’re not a free spirit.’
And just as hoarding ‘things’ is a habit, so is that reflexive feeling of being quite content to dispose of things that fit the above definition. And at the heart of this philosophy, says Kay, is the ability to take an honest look at ourselves and why we feel the need to ‘over-have’ if you will - not to mention investigate the modern mania for shopping, owning, collecting, three ways of validating ourselves in a way that rather misses the point of validity.
‘Were all struggling with the way we live,’ she says. ‘Fast, furious, constant consumption. It’s hard to stop, hard to say enough. I can’t do IKEA – I get muddled and buy the wrong sizes, then I have to go back, which is not what I want to do!’

She has found the property market has a bearing on her work. ‘We’re living in extraordinary times, when people have all this stuff and don’t have a bigger home.’ And it works the other way around as well – after all, clutter is a good way to drive away prospective buyers.
The green movement is a sibling of the Sue Kay philosophy – and surely the best way not to waste things is not to gather too many things to begin with. Surprisingly, however, in some ways she has found her work complicated, not eased, by the new green awareness. ‘I’m pro-green but it adds an extra level of stress to de-clutter ethically.’ She laughs, ‘I got an email about old pill bottles: “What do I do with these?”’

With her client visits she is very careful not to judge; rather, she acts on empathy and frames her work in terms of the good it can do. ‘It’s my job not to feel overwhelmed. You have to manage their expectations.’ The most difficult consultations are when people veer strongly to one extreme or the other. ‘Either they have to agonise over everything or they want to throw everything away.’
She treads lightly when helping a client with those possessions that trigger particularly personal or painful feelings and memories. ‘When you come across your dead husband’s bus pass – that can be agonising.’
It is natural to feel vulnerable when clearing away life’s detritus, she says – particularly in the presence of a stranger. ‘People get very defensive and worried. It’s like someone seeing your knicker drawer – your muddle and your mess. Things you hide from the outside world, like if you haven’t paid your bills for six months.’

Having written two books on de-cluttering, she would now like to dig deeper into the psychological basis of keeping things well past their use-by date, and how this ties in with the all-consuming consumer culture. ‘Everything’s so cheap, we’re living in this Primark culture. Is it making us happy? I’d like to look at that. If somebody gave you a great CD, you’d enjoy it. If they gave you three – that’s nice. But ten? You start thinking, God I can’t cope with this!’
For now, though, she has taken a month off and is getting to know her new neighbourhood. ‘It’s certainly lively. I’m down towards the Edgware Road part of it – it’s lively , it’s noisy. I’m between Marylebone High Street and Oxford Street.’ One of the most cluttered areas of the capital, I can’t help but think.

Sue Kay’s books, No More Clutter and Hoarder To Order, are available at bookshops and online. Visit nomoreclutter.co.uk

posted on Friday, August 24, 2007 10:32:33 AM (GMT Standard Time, UTC+00:00)  #    Trackback
Mary Anne Bowring, creator of Leasehold Support, advises leaseholders how to deal with rogue freeholders

The freeholder has a responsibility to the lessees and should comply with his schedule of covenants such as keeping the building insured, carry out necessary repairs to the structure and ensure that communal service are maintained.

However, leaseholders can be at the mercy of the freeholder who can take advantage by charging inflated prices for insurance and requesting unjustified service charges. Due to lack of awareness of their legal rights, leaseholders are often in a state of limbo and continue to pay the service charge and building insurance even though little is being done. If that isn’t bad enough, some freeholders simply cannot be traced – which makes it impossible to sort out maintenance issues such as communal areas not being cleaned or a leaking roof.

Leaseholders can claim their right to manage to take charge and stop poor management of the block. However, this is only possible if 50 per cent of the leaseholders in the block support a right to manage movement. The same applies to buying the freehold which again could solve the problem of an absent rogue freeholder. Provided two-thirds of the flats have long leases and 51 per cent of the ‘qualifying lessees’ participate you can force the freeholder to sell you his title.

Unfortunately, for a lot of leaseholders gaining support from the rest of the block is an issue. The recent buy to let trend means many flats are owned by investors who remain nonchalant when it comes to the repair and maintenance of the block or have passed the buck to a letting agent. For example, Ringley’s legal services team has just dealt with an absentee freeholder case where only one of the flats in a block was actually occupied by the leaseholder, with the rest rented out. This created a nightmare for the resident leaseholder as she couldn’t drum up any support from the other leaseholders about the state of repairs as they didn’t live there.

If getting 50 per cent of the block to support the right to self manage or buy the freehold is out of the question, don’t worry – there is another option. If you are concerned that the block is falling into disrepair and the freeholder isn’t managing the block effectively then you can apply to the Leasehold Valuation Tribunal to request they appoint a managing agent of your choice.
Before you apply, you will need to select an agent that has sufficient expertise to satisfy a tribunal that they are fit to fulfill the role of court-appointed manager, able to take over the role of the freeholder and abide by the schedule of covenants set out in the lease.

Requesting a court-appointed manager is different to claiming your right to self mange, as there is a need to prove the freeholder is at fault. In order to persuade the tribunal to appoint a manager, it is necessary to justify your reasons why such a course of action is reasonable and would be in the best interests of the block as a whole.
It is possible to present your own case at tribunal if you have a good understanding of your lease and can find the relevant clauses of which the freeholder is in breach. However, you will need to provide supporting material such as visual evidence of disrepair, works for which you feel you have been overcharged or unauthorized alterations and a record of all unresolved disputes. It is also necessary to produce copies of service charge accounts which do not comply with the Landlord & Tenants Acts.  
If you are not confident in presenting your own case then its better to enlist the support of a managing agent, typically a firm of chartered surveyors who have the necessary experience. To lodge an application with the Leasehold Valuation Tribunal costs between £150 and £350 depending on the number of dwellings in a block. At the tribunal, each party bears their own costs but if the tribunal feels that one or both of the parties is wasting their time or not following directions on the information and evidence to be heard it does have the power to award costs of that part of the hearing.

Mary-Anne Bowring is founding director of Ringley Chartered Surveyors and a member of the RICS and the Association of Building Engineers. The Ringley Group subscribes to the RICS ten- minute free consultation service on this topic. To get the ball rolling, feel free to call 020 7267 2900 and ask to speak to Mary-Anne Bowring or Teresa Tuck

posted on Friday, August 24, 2007 10:29:48 AM (GMT Standard Time, UTC+00:00)  #    Trackback
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