I have been tasked with considering 2019 predictions for the leasehold industry.
In last month’s legal review, I talked about many of the ongoing consultations and proposed changes to statute within the leasehold industry. This year those will continue to move forward, and changes will be made (eventually) – Government is just somewhat distracted at the moment. The industry will have to continue to adapt accordingly, and it usually is very good at this.
Alongside our Property Manager workload – having looked back at our cases throughout 2018 – there was a definite increase in leaseholder lead instructions. Many of these enquiries, of course, come via our Property Manager clients. All parties often work together to achieve a common goal on the development or to replace an outgoing manager.
Awareness of the property management industry and leasehold ownership is on the rise. It is my opinion that this can only be a good thing for all those who work within it.
A short scroll through social media platforms alone will provide any reader with a clear idea about the strength of support for many leaseholder initiatives. Many of the actions, forums, and groups are designed to address the perceived imbalance of power at leasehold developments.
From direct experience of our caseload, I, therefore, predict that for 2019 we will all be working more closely with leaseholders on;
- Appointment of Manager applications
- AGM attendances
- Direct advice to Residents Associations
- Right to Manage Process and
- Tribunal preparations and attendances
I intend to discuss each of these areas in more details over forthcoming editions.