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    so in a development where there are blocks of flats, the freeholder (F) owns the actual land, the landlord (L) built the blocks of flats on the land and lease out to leaseholders (LH) of each block. If the ground rent is being paid directly from LH to the F, how on earth does the L make any money themselves?

    #2
    Management of the properties through the service charge . . .

    Comment


      #3
      By selling the leases for vast amounts of money ?

      Comment


        #4
        Both the above
        a) When they sold the leases
        b) Via thievery through the usual service charges route (backhanders, commissions, somehow appointing themselves or friends as agents, appointing lawyers who charge massive fees for delayed payments and then taking their cut..... and so on). Very lucrative and is all theft.

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          #5
          they employ management co to do this so don't make any money through service charges. in any event i thought the service charges covered the maintenance etc so wouldn't make much from this anyway?

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            #6
            also i get that they sold the leases, but that was prob over 50 years ago so why bother to be involved now if they aren't getting any further monies?

            Comment


              #7
              I already explained - kickbacks are big business

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                #8
                interesting

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                Latest Activity

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                • Reply to S20 - Quotes not valid for long enough for 30 day consult
                  by Flatman78
                  Thanks Gordon999

                  You can see from above reply to Macromia that's your comment wouldn't be relevant to me. there is no managing agent. It's just me (FH) and LH in upstairs flat.
                  Thanks for taking time to reply though....
                  23-05-2022, 20:29 PM
                • S20 - Quotes not valid for long enough for 30 day consult
                  by Flatman78
                  Hi LZ Community

                  Just wondering if anyone's had/having any issues with S20 and allowing leaseholder 30 days to review estimates, raise concerns etc.

                  Building material prices have fluctuated massively since covid and brexit.
                  with a combination of Brexit, impact from russia/ukraine...
                  23-05-2022, 14:42 PM
                • Reply to S20 - Quotes not valid for long enough for 30 day consult
                  by Flatman78
                  Thanks Macromia, I'm hoping not to have to request quotes to include extra 'contingency' as I know some building materials literally jumped by up to 80% pretty much overnight and so I / we could end up paying a hell of a lot more than we have to go with a 'protective' quote.

                  It's only me...
                  23-05-2022, 20:27 PM
                • RTM Hand Over Issues
                  by martin15
                  RTM handing over issues

                  Our RTM companies comprise 4 blocks of 6 identical two bedroom flats and each block is registered at Companies House as a separate company.
                  Following the acquisition date, it was discovered the former directors ignored legal advice and changed property management companies...
                  23-05-2022, 19:36 PM
                • Reply to RTM Hand Over Issues
                  by ash72
                  You could sue the other company for the money owed.
                  23-05-2022, 19:48 PM
                • Reply to RTM Hand Over Issues
                  by Hudson01
                  I am clearly no expert but i think this statement from the all knowing WWW appears to fit the bill for what has happened to you.................

                  '' Fraud can be broadly defined as the deliberate use of deception or dishonesty to disadvantage or cause loss (usually financial) to another...
                  23-05-2022, 19:48 PM
                • Reply to Old managing agents accounts
                  by Gordon999
                  You could show the last service charge demanded by previous managing agent . There should be a final summary of the service charge account.to show the unspent funds.
                  23-05-2022, 18:26 PM
                • Old managing agents accounts
                  by jazzythumper
                  Since obtaining the RTM and changing the managing agent, we have never been given full accounts / receipts for the previous year(s). We believe that as the old freeholder and leaser holder of one of the flats were represented by the same solicitor that prior to the sale of the freehold, we were subsidising...
                  20-05-2022, 11:21 AM
                • Reply to Building works & S20 process
                  by Macromia
                  Good questions.
                  The fact that the cost of work means that Section 20 consultation is required doesn't necessarily mean that it is major work that will require a project manager and, although most leases will contain clauses that allow the cost of project management to be recovered from leaseholders,...
                  23-05-2022, 18:23 PM
                • Building works & S20 process
                  by RichA
                  Hi. I have a freehold after selling a leasehold flat in a block of 4 flats. We don't currently have a managing agent, so these duties currently fall to me (I am holding off appointing a managing agent whilst the leaseholders consider whether they want to RTM).

                  The block needs some maintenance...
                  21-05-2022, 17:20 PM
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