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VFM Property Management
Block Management London | Property Management Company Agents
Block Management London | Property Management Company Agents


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VFM Property Management London
Published by The Guardian · 14 May at 10:44 ·
Central London property agents are struggling to sell at the luxury end of the market. Check out why ...

Buy a home, get a car free: offers galore as London estate agents struggle to sell
Incentives including stamp duty subsidies of £150,000, iPads, sound systems and travel deals launched to lure buyers to purchase in capital’s affluent areas

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High-end London house prices drop 20pc
Home buyers deterred by talk of Mansion Tax and impending general election
An overheated London property market has suddenly taken a turn for the worse. But none of this has been reported in the news ? Why all the secrecy ? And is it really all down to fears about the mansion tax ? The latest stamp duty and company tax provisions on property might also play on investors minds.
As thousands of overseas investors continue to pour money in to UK investment properties what will happen next ? Are resident homeowners at risk here ?
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VFM block management's property management services have proven immensely popular with time pressed landlords, leaseholders and directors of property management companies. If you wish to speak to VFM about just how its block management agent services can be of benefit to you, simply give them a call or visit their web site by clicking VFM London

Would you trust an unregulated bank ? Why would leaseholders trust an unregulated managing agent ? #block management

Would you trust an unregulated bank ? Why would leaseholders trust an unregulated managing agent ?

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Can I make alterations to my property?

Most leases and transfers include restrictive covenants prohibiting alterations to either the plan or the elevations of the property without prior written consent. Such alterations will include the replacement of windows, the removal of internal walls, installing external lights and the construction of an extension. Residents wishing to make alterations should apply to VFM in writing detailing the precise works to be undertaken including the appropriate plans and specification relating to the proposed works.

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What is a leasehold?

Leasehold flats or apartments can be in purpose-built blocks, in converted houses or above commercial or retail premises.

Leasehold ownership of a flat is simply a long tenancy, the right to occupation and use of the flat for a long period - the 'term' of the lease. This will usually be for 99 or 125 years and the flat can be bought and sold during that term. The term is fixed at the beginning and so decreases in length year by year. Thus, if it were not for inflation, the value of the flat would diminish over time until the eventual expiry of the lease, when the flat reverts to the landlord (although an assured tenancy would then become a possibility).

The ownership of the flat usually relates to everything within the four walls of the flat, including floorboards and plaster to walls and ceiling, but does not usually include the external or structural walls. The structure and common parts of the building and the land it stands on are owned by the landlord, or freeholder, who is responsible for the maintenance and repair of the building.

The landlord can be a person or a company, including a local authority or a housing association. It is also becoming increasingly common for the leaseholders to own the freehold of the building, through a residents' property management company effectively becoming their own landlord. With the introduction of right to manage or RTM, qualifying lessees now have a statutory right to take over the landlord's management duties. Under RTM, it is important to realise that the leaseholders do not own the freehold but are nevertheless able to manage the building as if they were the landlord.

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What are Reserve Funds?

Many leases provide for the collection of sums in advance to create a reserve or 'sinking' fund to ensure that sufficient money is available for future scheduled major works, such as external decorations, roofing or lift replacement. The lease will often set out when regular, cyclical or maintenance works are due.

Contributions to the reserve fund are not repayable even when the flat is sold.
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