The National Leasehold Survey has shown that more that two-thirds of leaseholders have little or no confidence in the ability of their managing agent to deal with a problem.
Both landlords and tenants should be mindful that flat owners have two possible options to escape -
1) club together to buy the freehold, known as collective enfranchisement; or
2) set up a right to manage company to take over the management of the building.
Both options are rights given to lessees' within the law, should qualification criteria be passed.
Here at Dutton Gregory we act for and provide advice to both landlords and tenants in both scenarios.
More than half of leasehold owners have admitted they regret buying their property, in the first ever independent national survey of leaseholders.