2. Providing good management for buy-to-let properties Anthony Essien

3. Agenda Before you buy After you buy Remedies

4. Before you buy Who manages ? Landlord; or Managing agent; or Management company named in the lease Understand ‘leasehold’ A long leasehold interest is a ‘tenancy’ A right to exclusive possession for a term and usually for a rent

5. Contd. System of management under leasehold Lease Covenants Landlord’s Leaseholder’s Occasionally a management company named in the lease Wider law i.e. Acts of Parliament and the ‘common law’ Code of Practice

6. Contd. Observe management The premises Access ways Amenities e.g. gardens, gym Pre-exchange dealings with management Timely Accurate Businesslike Does the approach reflect that in the RICS Code of Practice ?

7. After you buy Code of Practice General approach to management Lease Specific contractual duties Covenants Regulations

8. (contd.) Statute Service charges – Reasonableness: s.19 LTA 1985 Consultation: s.20 LTA 1985 Administration charges – Sch 11 CLRA 2002 Must be reasonable Summary of rights to accompany demand Recognised residents association – s.29 LTA 1985

9. Remedies Determination of reasonableness of: Service charges : s.27A LTA 1985 Administration charges Appointment of a surveyor: s.84 HA 1996 Right to manage: s.71 CLRA 2002 Appointment of a manager: s.24 LTA 1987

10. contd Collective enfranchisement: LRHUD 1993

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