One thing I have noticed, what with the current financial
climate is how leaseholders expectations have changed.
A managing agent in the past would tout their business to
the leaseholders who actually lived on the development as the buy to let
landlords were not concerned as the rent they received easily covered the
service charge.
Today, with so many flats being built around the country the amount of rented accommodation out there has increased dramatically.
If the rental income is £600 per month and £100 of that is going on service charges that is a considerable amount of money which is no doubt why landlords are taking a much keener interest in the developments.
Unsurprising I have found that many landlords become directors of RMC companies as not only do they want a good looking development that will attract tenants but they want running costs regularly reviewed and kept to a minimum.
What is surprising is the lack of interest from the residents who actually own and live on the site or maybe that's because the landlords, in their role as directors of the RMC are doing such a good job!
No comments:
Post a Comment