Richard McConnell, who is the head of our property department, was invited to a general meeting with numerous lessees in a mansion block in a North London to discuss joint applications to purchase the freehold and self-manage the block, which has suffered from poor management to date.
Failing freeholders, head lessees and poor management are a huge issue for leaseholders. Ageing mansion blocks can cause particular difficulties as leases ‘fall in’; common parts, communal gardens, roofs, and guttering will all need care, redecoration, management, repair or replacement.
Many of them have ‘sinking funds’ that may now have insufficient monies or require enormous additional investment from individual lessees.
The temptation will be for hard-pressed leaseholders to do all of this themselves, but it is incredibly difficult to do this without expert professional input and expensive, long-running mistakes can be made without the correct advice.
Contact Lewis Nedas Specialist Property Solicitors
To speak to one of our expert property lawyers, contact Richard McConnell or Richard Greenby on 0207 387 2032 or complete our online enquiry form here.