“My Ministers will bring forward a bill to reform the housing market by making it cheaper and easier for leaseholders to purchase their freehold and tackling the exploitation of millions of homeowners through punitive service charges.” King Charles III 2023 Speech
Alexandre Boyes is ahead of the game – The Portal
A key aim of the Leasehold and Freehold Bill is to achieve transparency over Leaseholders’ service charges, “so all leaseholders receive better transparency over the costs they are being charged by their freeholder or managing agent in a standardised comparable format and can scrutinise and better challenge them if they are unreasonable.”
Our block management team have been using Resident Block Management Software since it’s 2014 launch. This complimentary service gives Alexandre Boyes director clients and leaseholders 24/7 access to ‘The Portal’ containing financial information, service charge accounts, and other information relevant to the block / estate. It means that our client directors and freeholders are already providing access to information and have the ability to be transparent and follow guidance. If you are not already using ‘The Portal’, then there really could not be a better time to do so. Simply ask your property manager or bookkeeper to send you an invite, or send a quick email to info@alexandre-boyes.co.uk and save this sequence of videos, taken from the Resident Video Library to help you get to know your way around.
Quick & competitive presales services
The Leasehold and Freehold Bill aims to streamline buying / selling a leasehold property by setting a maximum time and fee for the provision of information required to make a sale (such as building insurance, risk assessments or financial records) to a leaseholder by their freeholder (known as ‘landlords’). Keren Dolan has been overseeing Pre Sale Enquiries and LPE1 forms since joining Alexandre Boyes in 2015, having specialised in this field for decades. To ensure that we provide this service as quick and as efficient as possible, Keren has been training our property managers to also provide these services. Our fees are transparent and pre-approved by clients before they onboard with Alexandre Boyes or sign our Terms of Engagement. If you are one of our leaseholders and need assistance with Pre Sales Enquiries or a LPE1 form you can contact us at info@alexandre-boyes.co.uk
Insurance Commission – already got it covered!
The Leasehold and Freehold Bill aims to replace buildings insurance commissions for managing agents, landlords and freeholders with transparent administration fees. Alexandre Boyes are regulated by RICS but we are voluntarily paid members of RICS Designated Professional Body Scheme. We are already required to declare any commission received on placing insurance products. Our Terms of Engagement pre-approved by clients fully explain what insurance works we undertake from engaging with specialist brokers for quotes, administrating policies, and renewals, to overseeing insurance claims and works. We undertake these services complimentary if we do receive any commission, otherwise our Terms of Engagement are transparent when it comes to what fees are charged for providing these additional services. As part of the scheme membership Alexandre Boyes insurance works was audited in 2019 by RICS. That means that our Terms of Engagement, policies, and procedures are already compliant and transparent.
As with all Alexandre Boyes blogs, these are intended to be a general overview of topical issues and should not be relied upon for formal purposes. Posted 8 November 2023
