Published: 03/09/2022 By Allan Fuller
Recently we have taken over the running of buildings from flat owners who were doing it themselves, they realised that the job was far too onerous, time consuming and carried too much legal responsibility.
Owners of flats may think that they can manage and run their building, and save the cost of a Managing Agent, but beware there are pitfalls along the way that can be deadly and very expensive if mistakes are made.
The legislation, that has given flat owners the ability to own their freeholds or take over the running of their buildings does come with some restrictions, but for the majority has been a great success. The recent Building Safety Act which received Royal Assent this year has seen a major shift in who is responsible for ensuring the safety of the building and the people within it.
What is not always appreciated is the vast complications that can arise. There is an incredible amount of ever-changing legislation to consider, sorting disputes between owners, disruptive tenants, maintaining the building, the correct procedure for Section 20 Notices, inspections for health & safety, and increasingly demanding fire & safety issues, lift & communal boiler inspections (if applicable), and Asbestos reports. Plus, buildings insurance terms and energy tariff negotiations and management to name a few challenges.
The truth is that professionals whose business is solely to manage blocks of flats take over the responsibility, and whilst there is a fee involved, we believe that our system can in many instances be saving money.
Under this management arrangement correct advice can be given, potential liabilities reduced and can in many instances be saving money.
If you would like a confidential discussion about how your building is run please get in touch, email; email@example.com or a phone call to either Allan or Tiegisty, who runs the block and estate management part of our company, on 020 8785 2515.