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07

Feb, 2016

Sunday

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  1. Is that right? Surely if a SC is validly invoiced...

    Is that right? Surely if a SC is validly invoiced to Mr X as the then leaseholder, it is his *personal* liability no matter whether he continues to own the lease or not? Similarly an invoice for a...
  2. "You are getting bogged down on technicalities" ...

    "You are getting bogged down on technicalities"

    No, I am trying to understand the technicalities - as noted twice I fully understand what should/will happen in practice. However, I am dealing with...
  3. "Forget the quarterly payments for the moment" ...

    "Forget the quarterly payments for the moment"

    Ah yes, but you can't...to quote the usual reply to most questions here, "what does the lease say?"! The lease says the service charge is set every...
  4. Service charges on change of leasehold owner

    Not sure if this is for here or "conveyancing" but here goes:

    Question is, who is liable to pay the service charge before/around/and after a change of ownership of the leasehold? An example may...
  5. I am just preparing our accounts for the year - I...

    I am just preparing our accounts for the year - I can't see the relevant bit in your (very helpful!) FAQs? Could you point me in the right direction?

    Also...how is the Service Charge accounting...
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    Good accountants in (eastish) London?

    As the title suggests, someone who can produce (a) company and (b) service charge accounts for us (c. £40k service charge budget). I've done it for the past few years but am moving on to pastures...
  7. Answering daft "standard questions" from conveyancer as freeholder?

    Good morning all

    Thankfully I don't have to do this that often, but one of our flats is being sold and I have received the usual "standard questions" from the conveyancer. A number are relatively...
  8. Carine You don't say what period your service...

    Carine

    You don't say what period your service charge accounts cover? I assume for this answer that they are from 1 January to 31 December. Also I assume you are not an accountant, so will try to...
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    Agree with leaseholdanswers, freehold companies...

    Agree with leaseholdanswers, freehold companies (F) which act as managing agents for their leaseholders (L) *cannot* be dormant (think of it this way - roof starts to leak, F calls roofer, roofer...
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    that's equivalent to an inflation rate of around...

    that's equivalent to an inflation rate of around 28%, compared to a market expectation of say 2-3% over the long term. You could of course reflect it in the price you offer (the stream of ground rent...
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    Water leak liability...yes, again!

    Good afternoon helpful folk

    A serious water leak from the flat above ours has caused several £100 of damage. Relevant info is:

    - flat above is owned by **** Council [names altered to protect...
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    I think you are confusing the ground rent that...

    I think you are confusing the ground rent that the shareholders probably now don't pay, and the ground rent that Malc still does. Let's say he pays £100 a year...to get £100 a year on a bank deposit...
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    Sorry, it was indeed ram...easy mistake to make...

    Sorry, it was indeed ram...easy mistake to make around these parts!

    Not sure why "Malc_p just needs to pay what his share was at the time" is a fact? For a start (unless there's something in the...
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    I am in a not dissimilar situation, albeit I am...

    I am in a not dissimilar situation, albeit I am (managing) the freehold company. They are a little confused, as leaseholdanswers says, there are no real proceedings, they simply issue you a share in...
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    Thanks, will do. Any idea (roughly) how much they...

    Thanks, will do. Any idea (roughly) how much they might charge?

    A
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    Valuing freehold reversion Part Two...

    Related to my earlier post, but different:

    My fellow board members have asked, understandably, if we can get a second opinion on the valuation of our freehold company (for the purpose of issuing...
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    Solar panels on freeholder's roof

    Good afternoon

    I am at the (very!) early stages of investigating the installation of solar panels on our freehold roof (for the avoidance of doubt I control the freehold, so from that perspective...
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    I am very well thank you. Meanwhile, back on...

    I am very well thank you.

    Meanwhile, back on the subject of reversion, the following is very useful:
    ...
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    Er, no, I am not conflating marriage value with...

    Er, no, I am not conflating marriage value with anything, I was simply referring to that as an area where fudges seem to be made. I am completely clear that the Present Value (PV) of a freehold is...
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    Yes I am happy with capitalising the ground rent;...

    Yes I am happy with capitalising the ground rent; however, your comments re the marriage value* etc. don't address my (admittedly theoretical) question re what property value to discount. Again,...
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    Thanks but it simply repeats the usual trope of...

    Thanks but it simply repeats the usual trope of using today's value as the value at the end of the lease, seeming to take no account whatsoever of property value increase (there is a small adjustment...
  22. You have my sympathy! I can't advise on the...

    You have my sympathy! I can't advise on the recoverability or otherwise of the actual service charges, but I have just been in a very similar position reconstructing my freehold accounts. Previously...
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    Valuing freehold reversion

    Yes, lengthy topic I know, however, I would like the forum's views on one particular point: when valuing the freehold reversion, why is it that the *current* value of the building is used? For...
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    Professional block management charges?

    I know this is a hoary old subject, and the answers are usually related to the length of string, but I am just looking for some rough guidance in order to demonstrate value for money for our...
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    Financial reporting for RMCs - update

    For those interested, the FRC have recently released a draft of FRED 50
    ...
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