So firstly, what are Major works? In leasehold terms, major works are works that will cost any one leaseholder more than £250.00. This then triggers a process known as Section 20 consultation.
What is Section 20 consultation and why do we need to do it? It is essentially protection for leaseholders so that Landlords cannot recover more than a stipulated threshold of service charge monies from an individual without following a certain process. If you fail to follow this process, you expose yourself and the management company to potential financial loss. If leaseholders are not consulted and the works go ahead, each leaseholder is only liable to pay £250.00 towards the total cost of the works. This could leave you short by thousands of pounds if not more.
We understand that there are various reasons why you may not wish to manage the consultation of major works yourself. It may be that you do not quite understand the process or maybe even that you just do not have the time. It can be a very long and time consuming process but it is very important that it is done correctly and it is therefore well worth considering appointing a managing agent to do this for you.
This is where we can help. We can manage the whole process for you, from creating a works specification with you, sending out the correct legal notices, all the way through to signing off the final works. We have a database of contractors and are also more than happy to liaise with those who are put forward. Our regular site visits will ensure that the works are monitored throughout and are completed to a high standard. We will also hold the funds for the works in a secure client account designated for your development so you are completely protected.
If you would like to discuss the management of any major works at your development or even if you just have a query, get in touch on 0203 0111 777.