 |
Putting the property management pieces in place |
|
|
Advice Page As part of ARMA's commitment to raising standards in the leasehold sector, we have produced a wide range of guidance materials specifically for leaseholders about the management of blocks of flats. These are all free to download... Important Reminder about the Financial Services Compensation Scheme and Service Charges Service charge monies held in trust are protected by the Financial Services Compensation Scheme (FSCS). In September 2010 the FSCS announced an increase in the protection limit for savers from £50,000 to £85,000 with effect from January 2011. In addition the protection is not an £85,000 maximum whatever the size of the block or scheme. It is far greater. Read more...
*** The advice in this booklet is still relevant but needs to be read in conjunction with the decision in a recent case in the High Court, Phillips v Francis. Read ARMA’s statement about this case and what it may mean for S20 procedures here. *** The Letting of Leasehold Flats
ARMA's Lessee Advisory Notes (LANs): LAN 02: Lessees Carrying Out Gardening, Cleaning, And Other Duties Service Charge Rights: A summary for leaseholders Leaseholders have important protections under Landlord and Tenant Law. They can challenge unreasonable charges; challenge poor or unnecessary workmanship; and have the right to be consulted about major works and long term agreements. We've put together this important summary of leaseholder's rights. Freeholders on Private Estates - A guidance document for freeholders paying service charges on private estates. Electrical Safety in Communal Areas of Residential Properties
Fire Safety in Purpose-Built Blocks of Flats
Technical Release: Residential Service Charge Accounts
ARMA & ERA Disconnection Protocol for Communal Areas of Blocks of Flats Joint protocol to establish the roles and responsibilities of ARMA members and the Big 6 energy companies where power disconnection to the communal areas is considered as a sanction for non-payment. It should also act as a guide to help avoid disconnections by addressing the issue earlier in the debt- collection pathway. A Career in Property Management
Benefits of Membership Leaflet
Key Management Issues For New Developments
A Guide To The Management Of Mixed-Tenure Developments
Reforming the home-buying and selling process
IMPORTANT INFO: Financial Services Compensation Scheme and Service Charges Service charge monies held in trust are protected by the Financial Services Compensation Scheme (FSCS). In September 2010 the FSCS announced an increase in the protection limit for savers from £50,000 to £85,000 with effect from January 2011. In addition the protection is not an £85,000 maximum whatever the size of the block or scheme. It is far greater. In April 2009 the Communities and Local Government Dept. issued a guidance note on this topic. It stated: “Whilst any claim would be dependent on the circumstances and evidence available at the time of the claim, the FSCS would generally expect to treat the tenants (not the landlord) [In this context tenants means lessees] as being individually entitled to the protection available for that proportion of the money in the account to which they were entitled by statutory trust. This would mean each tenant being eligible for a maximum of [£85,000] compensation to cover the loss of their particular proportion of the deposited funds.” Need more guidance on service charge accounting? Download our Best Practice guide and the Technical Release issued by the ICAEW |
|
Industry and professionals' views on the future direction of home buying reform in England - Edited by Amir Ghani, Building Societies Association