The 34 New Residential Estate Property Management RegulationsThere have been a staggering 34 new regulation changes introduced by the government in just 6 years affecting residential freehold and leasehold management agents and their estate management property services. And this list excludes any changes to employment law covering property services companies in employing their own staff.The main regulatory and statutory changes impacting on landlords, freeholders, resident property estate management companies and their agents are set out below.Whilst this list is not intended to be exhaustive, the extent of government interference in this sector is clear to see. It is granted that much of this legislation brings with it undoubted improvements however the scale and pace of the introduction of change is staggering.There must be few industry sectors which have been subjected to such radical and wholesale statutory amendment in such a short time frame. It is little wonder why so many freehold and leasehold management companies, landlords and their leaseholders have been turning to residential property block management agents for professional help and advice regarding service charges.Many residential freeholds, leaseholds, resident management companies, Right to Manage (RTM) and property management organisations are run by volunteers and others who may be relatively inexperienced in the property estate management field. It is understandable that these organizations along with landlords will wish to know that their freeholds and residential block management firms are professionally run, ensuring suitable protection under both new and existing legislation.There are 34 headings set out below which have been recently affected. This list concerns property agents, landlord service charges and lease management of freehold and leasehold property. Some or all of these changes will have a significant impact on property companies and the maintenance and running of leasehold and freehold estates:-1. Ground rent notices for landlord and freehold companies2. Changes to consultation procedures for property services and major works3. Consultation on long term agreements for landlords and freeholders4. Service Charge Demands for block management agents, leaseholders and freeholders5. Administration charges for landlord property agents6. Forfeiture for leaseholders7. Breaches of Covenant affecting the landlord and leaseholders8. Asbestos property services legislation9. Working at height10. Risk Assessments and property services health and safety11. Regulation of residential block insurance by the F S A12. Taxation of Trusts for Service Charge Monies for managing agents and residential estate property management companies13. Digital Switchover14. Licensing of wheel clamping and other security staff for freehold and leasehold companies15. Separate bank accounts for each residential property scheme16. Prescribed statements of account for property service changes17. Independent certification of all service charge scheme accounts18. Licensing of houses in multiple occupation (HMOs)19. Home Information Packs20. Fire safety for leasehold or freehold estate property management companies21. Disability Discrimination and property block management22. Electrical Safety Testing for blocks of flats and freeholds23. Water testing and legionella for common and shared estate property services24. Gas Safety for common and shared property services25. Hazardous Substances in the common areas and the workplace26. Rules for appointment of contractors for property and estate management organisations27. Lifts, elevators and their regulation and block maintenance28. Health and safety planning for all freehold and leasehold maintenance work29. Data Protection for managing agents and residential property estate management30. Money Laundering for estate managing agents and residential property landlord businesses31. No smoking rules in blocks of flats and common facilities32. Disposal of electrical items affecting estate managing agents and residential property33. Health and Safety Offences Act 2008 affecting management agents and residential property estate management34. Administration services for residents leasehold blocks of flats and apartmentsIn view of the above extensive list it is clear that professional guidance should be sought to help leaseholders and freeholders begin to understand the effects of the above recent changes affecting the running of estates and lease arrangements.When it comes to service charges, maintaining and ensuring the smooth running of freeholds for blocks of flats or apartments, few things are more essential than securing the services of a professional property block management agent. Professional expertise in the field of block management service charges and property services have proven immensely popular with time pressed landlords, directors and leaseholders of freehold property management companies. Please refer to the details below to find out more.
- Direct Payday Loan Lenders Vs Indirect Lenders
- How to Choose the Best Vendors for Your E-commerce Order Fulfillment
- A Brief Introduction to Captive Insurance
- Network Marketing – How to Go From a JOB to Network Marketing and Is It Worth It?
- Are Investment Costs of Business Internet Marketing Higher Than You Might Think?