11 April 2017 by BNS
4.1 million people* in the UK own a home with a lease and today, plans have been announced for Bristol’s first ever ‘Leasehold Roadshow’ – a free event to give leaseholders support and advice.
Leaseholders pay on average £1800** pounds a year in service charge to a Management Company who in turn are responsible for services including arranging building insurance, upkeep of communal areas, repairs on the building, accountancy, health & safety etc.
In recent months, issues around leasehold property have hit the national headlines because owners do not always fully understand their responsibilities when it comes to a lease.
Andrew and Ian Simmonds – the managing and operation directors respectively from Bristol based BNS Property Management, wanted to do something about this.
“To help dispel the myths around leaseholds, this June we’ve organised the ‘Leasehold Roadshow’, a free event for both homeowners and landlords.” says Andrew.
“It can be a minefield if people do not know the legislation in its entirety, so we’ve gathered a range of experts involved in leasehold property together, to give property owners the chance to pick their brains – for free.”
Those experts include solicitors, insurance professionals, health and safety experts, the fire service and energy suppliers. As well as being on hand to give advice, they will also be giving talks every hour about particular topics followed by a question and answer session.
Ian told us: “For me, one of the highlights will be the talk from Avon Fire and Rescue about fire safety in blocks of flats. Since Christmas at least five fires have broken out in flats in Bristol which demonstrates there’s no room for complacency when it comes to fire safety.”
“Another common issue is the under insurance of buildings. A recent report found that 9 out of 10 leasehold properties across the UK are only insured for half the re-build value, leaving owners vulnerable to finding the remaining money should their property need to be re-built.”
The free drop in event takes place in The Bristol Pavilion on 1st June 2017 at Gloucestershire Cricket’s Ground on Nevil Road from 12.30pm until 8.30pm.
To register for the event and for a full run down of the talks planned head to:
www.bns.co.uk/leaseholdroadshow or call 0117 957 0809.
*Figure from Department for Communities and Local Government, “Residential leasehold dwellings in England” August 2014.
**Figure from Direct Line For Business press release, “Property pain: service charges increasing rapidly” March 2016.