Block Management

Victor Michael provides services for ground rent investors and individual, corporate and developer freeholders and our aim is to provide a service to our clients that is completely transparent, efficient and definitely cost effective.  We believe this is paramount in protecting and maximising the value of your investment.

We have a dedicated team of portfolio managers and administrative assistants associated with Westcolt with a wealth of experience across all aspects of residential property management. In order to protect your investment and to ensure the smooth and efficient running of your property:

1. We provide a dedicated Portfolio Manager to manage your property they will also be the day-to-day point of contact for individual lessee enquiries.
2. We ensure that you meet all current property legislation including, but not limited to, The Regulatory Reform (Fire Safety) Order 2005 and The Management of Health & Safety at Work Regulations 1999.
3. We ensure that the Ground Rent demands are served to the Lessees in accordance with the requirements of Section 166 of the Common hold and Leasehold Reform Act 2002 and ensure the prompt collection of monies that are due.
4. We meet with you on a quarterly basis to review all matters, financial or otherwise, for complete transparency and to take forward your financial and management instructions in an efficient manner
5. We take away your day-to-day issues leaving you to focus on other key management issues and decision making processes only

As you may or may not be aware, there are tools available to long lease holders of blocks of flats to either acquire the Freehold Estate (also known as collective enfranchisement) in accordance with the Lease hold Reform Housing and Urban Development Act 1993 (as amended by the Common hold and Leasehold Reform Act 2002) or take away the Landlords Management functions under the Lease via the Right to Manage in accordance with the Common hold and Leasehold Reform Act 2002.

The long lease holders do not need to provide evidence that the management of the property has been bad or indifferent in order to acquire the Right to Manage nor do you have to offer the sale of the freehold interest to the long lease holders in order for them to collectively enfranchise; in light of this we provide a different management approach for freehold clients than some of our competitors to significantly reduce the risk of the long leaseholders collectively enfranchising or acquiring the Right to Manage.

This is achieved by providing the long leaseholders with a completely transparent service, keeping them fully informed of developments within the property by way of quarterly update reports, holding Residents meetings on an annual basis and actively monitoring service charge expenditure which in turn, reduces the likelihood of significant increases from one year to the next.  This ensures that we Victor Michael have a strong relationship with leaseholders and they do not generally feel a need to seek alternatives.

If you are interested in our services please feel free to contact us on 0208 522 5907 to discuss further.