Millions of people are living in leasehold properties today, and most will have had no realistic alternative because the majority of flats until now are sold on this basis in England and Wales.
As the leasehold sector is managed by your Landlord or a management agent, it’s vital to understand your rights and get to grips with how your block is managed. As a leaseholder, you have the legal right to ask for financial information of how your Service Charges have been calculated and spent, along with any paperwork such as invoices, contracts and receipts. Additionally, any proposed projects costing more than £250 per flat should not move forward without the Landlord or management agent consulting the Leaseholders for their review and approval.
This is called a Section 20 Notice.
Rip Off Britain - First Port Property Management
Although there are some competent management agents who are honest, professional and transparent in how they manage your funds, there are many others who are less scrupulous.
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