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SELF MANAGING vs PROFESSIONAL MANAGMENT

Just today we learned that a small block of flats we had quoted to manage have taken the decision to self manage.


It is often difficult to persuade smaller blocks of flats to be managed by a specialist company as the Directors at the block think it is an easy job and hardly any work is involved in self managing, but also wish to save money.


Unfortunately it is not that simple! For instance, if any work to the block is undertaken at a cost of more than £250 per flat then the Directors must 'consult' with all lessees. This process is called Section 20 Consultation and further details can be found on line.


In addition, service charge invoices must be issued, in line with the lease, and must take a specific format.


Furthermore, Fire Risk Assessments, asbestos surveys, fixed electrical testing of communal supplies must be undertaken, by law. Failure to do so may be catastrophic.


If you require any advice, please do not hesitate to contact us.

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