London Leaseholders Lose Out In Management

1. London Leaseholders Lose Out In Management London Management leaseholders lose out Thousands of residential leaseholders in central London risk losing money by failing to exercise their right to manage their apartment blocks, claims surveying firm Ringley. Self-help: Bowring assisted with residents management company at Hertford Lock House in east London. Following an analysis of the ownership of 3,375 flats across 15 inner London postcodes, Ringley reveals that just 9.5% of residential blocks are self- managed where leaseholders can control the amount of service charge and how it is spent. Leaseholders have been able to take over block management through enfranchisement since 2002. But Ringleys survey highlights a huge concentration of control still in the hands of a few estates, institutions and overseas owners. Ringley suggests that London's leaseholders are either apathetic or unaware of the financial benefits of their right to manage, despite paying higher service charges than elsewhere in the UK.