A new government guide created for people living in or thinking of buying a leasehold property has been praised by experts at Principle Estate Management.
The guide, entitled “How to lease”, is published by the Ministry of Housing, Communities and Local Government and explains leaseholders’ rights and responsibilities, what questions to ask, and how to get help if things go wrong.
Ian Smallman, a director at Birmingham-based Principle, said: “We welcome the clarity and usefulness of this new guide which is exactly what existing, new and would-be leaseholders need.
“There has been a lot of talk about the leasehold sector over the last few years with several government consultations on different aspects, and it’s good news that the information gathered has been used so efficiently.
“This easy-to-understand guide will be really helpful in what can be a confusing sector that uses lots of specialist jargon and involves so much detailed legislation.
“Here at Principle, we already try to ensure our communications are in clear, plain English and are always happy to explain legislative and best practice requirements to our customers.
“The government should be praised for taking the time to carefully create and publish this ‘How to lease’ guide which will complement our efforts.”
Principle is an associate of the Association of Residential Managing Agents (AMRA), is regulated by Royal Institution of Chartered Surveyors (RICS) and employs Institute of Residential Property Management (IRPM) qualified staff.
Mr Smallman, who himself sits on the IRPM’s Leasehold Working Group, added: “Principle is set up to manage leasehold properties properly whether that be for developers, freeholders or resident management companies.
“We have a wealth of experience and are committed to making this simple to understand for all our clients.”
Principle Estate Management was launched in 2018 by Brett Williams, the former head of residential property management at CPBigwood in Birmingham, and a past-chairman of AMRA.
The company is based at Cornwall House in Lionel Street, Birmingham, and offers a national property management service.
In accordance with the RICS requirements regarding their Client Money Protection Scheme Rules for firms Regulated by RICS, please see a link to the rules.
The Association of Residential Managing Agents (ARMA), of which one of our Directors is a former Chairman, has excellent resources available.
Please click Leasehold Library for some of their useful leaflets.
If you own an apartment or house on a development managed by Principle Estate Management, please complete this form and email it to our office so that we can record your full contact details on our system.
A guide to your rights and responsibilities as a leaseholder
As a leasehold homeowner, it’s in your best interests to understand the legal nature of this type of ownership. What exactly do you own and what are the associated rights and responsibilities?
This guide aims to help you to understand residential leasehold and what your rights and responsibilities are.
You can download this excellent six page guide produced collaboratively by ARMA, ARHM & LEASE by clicking here.
Please check back regularly for more resources to be posted on this page.