The impact of service charges to freeholders on new estates: A case study from the UK.

Research output: Chapter in Book/Conference proceeding with ISSN or ISBNConference contribution with ISSN or ISBN

Abstract

There is currently a massive development of new housing taking place in the UK to meet rising demand predominantly being delivered in multi-owned new estates which include a mix of freehold houses, leasehold flats and models of affordable housing. Since the financial constraints imposed by the government on local authorities there appears to be a growing requirement for the new residents to set up private companies to manage communal space contained within. This is unprecedented at this scale in freehold purchase and binds new owners to service charges for upkeep and maintenance and for permissions for development in addition to those imposed by statutory legislation. Purchasers are advised that a limited company will be set up to manage a selection of: green infrastructure, parking, roads, lighting and drains. Each resident will hold a share in this company and will then be responsible for appointing voluntary directors from the estate who can in turn appoint a property management agents. This paper investigates the back-ground to the current position and uses case studies and interviews with residents of a number of estates where these service charges are payable to determine how this is working in practice.
Original languageEnglish
Title of host publicationThe Construction, Building and Real Estate Research Conference 2016
Place of PublicationLondon
PublisherRICS
Pages0-0
Number of pages1
ISBN (Print)978-1-78321-160-9
Publication statusPublished - 30 Sep 2016
EventThe Construction, Building and Real Estate Research Conference 2016 - Held in Toronto, Canada in association with George Brown College 20-22 Sept 2016
Duration: 30 Sep 2016 → …

Conference

ConferenceThe Construction, Building and Real Estate Research Conference 2016
Period30/09/16 → …

Keywords

  • Communal areas
  • estates
  • management
  • regulation
  • service charge.

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  • Cite this

    Madgwick, D., & Wood, H. (2016). The impact of service charges to freeholders on new estates: A case study from the UK. In The Construction, Building and Real Estate Research Conference 2016 (pp. 0-0). RICS.