BernieWales

Registered with Property118.com
Thursday 9th April 2020

Bio
40+ years hands-on experience helping leaseholders by providing advice, consultancy and property management services.


Latest Comments

Total Number of Property118 Comments: 108

BernieWales

9:49 AM, 24th September 2021, About 8 hours ago

How will the abolition of ground rents affect existing leaseholds?

Reply to the comment left by Puzzler at 23/09/2021 - 19:57
A RMC and a Freeholder are, by definition, not the same. The 'R' in RMC means residents (leaseholders) control that company.

If on the other hand you have a tri-partite lease with a named "Management Company" (such as O M Limited) then that's another matter.

But to get back to the original point/question ... commonhold does not have an outside Freeholder. The land and building is owned by the Commonhold company ... and the "unitholders" are members of that company ... and it is that company which provides/manages the services and organises the 'service charges'. Yes, it is similar to a RMC in terms of democracy, but would work within the commonhold system/laws, not the leasehold system/laws. The nearest equivalent, I suppose, is currently a Residents' Freehold Company ... where in effect the flat/unit owners control everything.
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https://commonhold.org... Read More

BernieWales

17:32 PM, 23rd September 2021, About 24 hours ago

FTT Appointed Manager in Doghouse. Now what?

Reply to the comment left by Shreena Shah at 23/09/2021 - 16:46
So, Shreena ... has ABC put you in a position where you are living off the proceeds of crime? That's a scary thought.... Read More

BernieWales

9:31 AM, 23rd September 2021, About A day ago

The Launch of Self-Regulation Within The Property Education Sector

This is an unexpected (to me) and welcome initiative. Anything which helps weed out the rogues is a good idea.

It will hopefully stop people like Glenn Armstrong, but will it stop investors from losing to the likes of Martin Skinner? So often the educators go on to provide 'investment opportunities' and the unfortunate are doubly screwed :-/... Read More

BernieWales

10:00 AM, 17th September 2021, About A week ago

Separate the freehold and leases?

A leaseholder owning the 'share of freehold' in personal names is not a good idea. It means that each time a leaseholder sells their flat and their share of freehold - the freehold needs to be sold from the old peeps to the new peeps.

It's better to sell the freehold to a company with two shares. Then when the leaseholders change, the freehold ownership can/could change by way of a share transfer ... which incurs no conveyancing charges. Not cheaper now, but cheaper forever in the future.... Read More

BernieWales

9:37 AM, 17th September 2021, About A week ago

FTT Appointed Manager in Doghouse. Now what?

Reply to the comment left by Vivienne Somerville at 17/09/2021 - 08:58
In this country we have the concept that people are innocent until proven guilty. I therefore object to your attitude which takes the view that managing agents are guilty until proven innocent.

And the FTT will still be required when 99.99% of managing agents are professional and honest ... because disputes and legal queries will arise for both honest and dishonest agents and leaseholders. Where people are involved there will always be differences of opinion, which the FTT can make a determination upon.... Read More