Leasehold Disaster: How to Avoid It

I’m going to let you into one of the major stressors for me at the moment: Leasehold Tribunal.

In my latest podcast, “Leasehold Disaster: How to Avoid It”, I’ll explain what’s happening, why it’s happening and what you can do to make sure you are adequately prepared for if the same happens to you! Finally, I discuss how you can continue to make this industry a really positive place and keep transparency alive.

I firmly believe that being in the property industry is a space where you are constantly growing and learning. It’s such a dynamic space that requires you to be on your toes, to be super organised, have amazing people skills and sometimes really use your detective skills :).

My aim now is the same as it’s been since the beginning of my property journey, and that is to make the property industry a fair, just place and somewhere that has high standards. Although this is not always the reality, I honestly believe that by leading by example the property industry can just go from strength to strength.

Here are a few tasters to lead you along with the podcast:

>>[1.36] Leasehold Tribunal currently happening right now!

>>[02:18] Here’s the background to the story: Since 2013 there has been an ongoing leak in the building where I own a flat. Reason? A very dodgy contractor was hired to do the works.

>>[04:30] No-one wanted to take responsibility! Freeholders/Head Leaseholder, etc…

>>[06:40] Fast forward to 2017 and finally a schedule of works is proposed. OOPS! The managing agent couldn’t add!

>>[09:29] November 2019… Managing agents couldn’t answer our basic questions about cost/monies to be paid by us for the fixing of the roof etc…

>>[10:54] Tribunal process in process! Listen here for the details on the contract clause and unforeseen difficulties…

>>[13:02] At the moment we’re writing our statement of case to the head leaseholder… + I’ve making a formal complaint around the ethics of this whole situation.

>>[15:45] Here’s one of the BIG takeaways from this POD: If you have a leasehold property, you need to know what the lease says inside-out.

>>[17:37] Who thought getting a copy of your Building Insurance from your Managing Agent would be this difficult? They said they didn’t have one!

>>[19:24] Processes can get really complicated, and if you’re in over your head, do contact the Property Ombudsman. I have found them to be fair and equitable.

>>[22:21] Another big takeaway: Keep all communication related to your property in ONE file. This may seem obvious, but you won’t imagine how this may help you one day!

>[23:43] An over-arching key takeaway to this POD is: If someone does something wrong you give them the opportunity to make it right. Let them apologise and share what they will do to make it right.

>>[25:00] We have to lead by example. Making the property industry the very best we can make it!

Listen to the full podcast here: https://anchor.fm/the-nc-podcast

Once you are done listening, I’d really love to hear from you!

Comment in the comment section below if you are feeling more inspired about dealing with the potential (and inevitable) problems and challenges that come up in property!