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Is Block Management BROKEN?
Is block management broken? That’s all you ever hear in the industry that block management is broken for numerous reasons. But are they looking at the bigger picture? Are the looking at a balanced viewpoint? In the latest episode, Des looks through several of the key highlight problems in the sector, and asks does this really mean that the sector is broken? Do you agree, is the sector broken? Listen on to spark the debate on where is the balance in the industry.
Key Takeaways
Lots of people are saying that block management is broken. When people are only talking about the negative. It can become dangerous in my mind because that’s all you hear sometimes. You just get a one-sided picture of what is going on inside the industry. It’s important to explore this view and understand it.
The problem with the narrative at the minute is that no-one is challenging the view. It sometimes feels that if you are against the grain in your opinion if you challenge the mainstream view. You are seen as someone who is defending really poor practices. Leasehold houses is this tiny, tiny thing in a huge industry. The problem isn’t small, and it should be talked about. It’s wrong to have the narrative when leasehold is broken just on the back certainly without the positive.
Leasehold houses, are where you buy freehold houses and it’s given a lease. It’s a house, where you’re granted a lease on them. Leases have loads of restrictions that you have to do like pay contributions to the estate. People are saying that these are unnecessary, and you're charging the purchaser at all different levels. Leasehold houses at its core are odd.
I think it’s a bit weird, however, these houses are sold subject to contracts. Lots of people have signed up and bought leasehold houses, and the argument is they don’t know what they are buying. I don’t accept that this is true. I get why you think that the lease house is wrong and I would agree. I won’t agree that the purchaser doesn’t understand what they are buying. You have a solicitor who points out these things, they point out the restrictions. You have to do your due-diligence.
Your taking a commercial situation and then there is a narrative where people can’t make money. There is an argument that you shouldn’t be making any money from these. People are purchasing properties and this is part of the contract. If you sign up to it and sign up to it. I would support a change in legislation that there should be no leasehold but you can’t change previous agreements.
Extensions, sometimes the landlord are charging people to approve their intention as a freeholder. I don’t think it’s wrong for there to be a fee. Something has to review. Something happens then when people build up and cut corners, and it’s not in keeping with the development. There should be a cost to avoid this. If It's done properly it should be done quickly. Give me an example of another service industry where you are not charging for peoples time.
If you nationally decide to bring down the cost. Subsequently, the industry will be worse, not better. You have to be really careful with the narrative. I don’t see the problem with doubling ground rent from £100 in ten years and then for the next ten years it was £300. I don’t see the problem with that. Some people are saying this is a big problem. When it’s over a short term and its large numbers I understand the concern. To suggest that the industry is broken on the back of something like this is wrong. There are very few properties which this affects.
This is a service industry. The business model is being attacked. People are saying that the management fees are too high, they should have been rising. This is not sustainable in the future. You can’t have everything rise and then charge less. I’m sure everyone who runs a business will agree. We are moving towards an expectation that everything should be done for free.
Housing Associations. I don’t agree with the model of these. We manage the block, and they are the leaseholder. No-one talks about the excess money that Housing Associations are bringing in. I want to see more people coming out and disagreeing with the narrative. Speak to some people who are happy rather than the people who are not happy, all the time.
Best Moments
‘Negative narrative of the media is not backed up.’
‘When you have a story there should be a balance.’
‘Speak to some people who are happy.’
‘If you nationally decide to bring down the cost. Subsequently, then the industry will be worse, not better.’
‘Lots of people have signed up and bought leasehold houses, and the argument is they don’t know what they are buying. I don’t except that.’
‘We are moving towards an expectation that everything should be done for free.’
‘Make sure all sides are represented.’
‘There should be a fee on creating an extension.’
‘Leasehold is not broken.’
‘You have to look at the bigger picture, you can’t just make one change.’
‘Leasehold at its core is odd.’
‘I don’t see the problem with doubling ground rent’
‘Leasehold is good.’
About the Host
I don’t know how this works, but you’re here now listening (hopefully) about my exciting life, so I’m going to try and make this worth your while.
I never got inspired at school, I was too busy trying to impress my peers, chasing girls, and being a fool to get inspired. I rejected school.
But let me tell you something for free! That was a mistake! I spent the next 15 years in jobs I hated, with no direction, lacked purpose, and motivation for life.
Yes, big words, but that was me in a box. A slave to the system!
Fast forward to today, and well, I’m not sitting in my ivory tower or anything, but I love life and my career. Yeah, it’s both painful and exciting rolled and wrapped up into one giant subway, and who doesn’t love subway rite?
The point is, you only get one life, don’t waste it pursuing things you care nothing for, invest in YOURSELF and grow as a person, be the best YOU by putting YOU first!
Contact Method
Website: http://desmondmoreira.co.uk
Youtube Channel: https://www.youtube.com/channel/UCo6eVOt1YEQD0dxNkRXevVg/featured
Twitter: https://twitter.com/Desmondmoreira
Instagram: https://www.instagram.com/desmondmoreira/
This show was brought to you by Progressive Media
View all episodes
By Desmond MoreiraIs block management broken? That’s all you ever hear in the industry that block management is broken for numerous reasons. But are they looking at the bigger picture? Are the looking at a balanced viewpoint? In the latest episode, Des looks through several of the key highlight problems in the sector, and asks does this really mean that the sector is broken? Do you agree, is the sector broken? Listen on to spark the debate on where is the balance in the industry.
Key Takeaways
Lots of people are saying that block management is broken. When people are only talking about the negative. It can become dangerous in my mind because that’s all you hear sometimes. You just get a one-sided picture of what is going on inside the industry. It’s important to explore this view and understand it.
The problem with the narrative at the minute is that no-one is challenging the view. It sometimes feels that if you are against the grain in your opinion if you challenge the mainstream view. You are seen as someone who is defending really poor practices. Leasehold houses is this tiny, tiny thing in a huge industry. The problem isn’t small, and it should be talked about. It’s wrong to have the narrative when leasehold is broken just on the back certainly without the positive.
Leasehold houses, are where you buy freehold houses and it’s given a lease. It’s a house, where you’re granted a lease on them. Leases have loads of restrictions that you have to do like pay contributions to the estate. People are saying that these are unnecessary, and you're charging the purchaser at all different levels. Leasehold houses at its core are odd.
I think it’s a bit weird, however, these houses are sold subject to contracts. Lots of people have signed up and bought leasehold houses, and the argument is they don’t know what they are buying. I don’t accept that this is true. I get why you think that the lease house is wrong and I would agree. I won’t agree that the purchaser doesn’t understand what they are buying. You have a solicitor who points out these things, they point out the restrictions. You have to do your due-diligence.
Your taking a commercial situation and then there is a narrative where people can’t make money. There is an argument that you shouldn’t be making any money from these. People are purchasing properties and this is part of the contract. If you sign up to it and sign up to it. I would support a change in legislation that there should be no leasehold but you can’t change previous agreements.
Extensions, sometimes the landlord are charging people to approve their intention as a freeholder. I don’t think it’s wrong for there to be a fee. Something has to review. Something happens then when people build up and cut corners, and it’s not in keeping with the development. There should be a cost to avoid this. If It's done properly it should be done quickly. Give me an example of another service industry where you are not charging for peoples time.
If you nationally decide to bring down the cost. Subsequently, the industry will be worse, not better. You have to be really careful with the narrative. I don’t see the problem with doubling ground rent from £100 in ten years and then for the next ten years it was £300. I don’t see the problem with that. Some people are saying this is a big problem. When it’s over a short term and its large numbers I understand the concern. To suggest that the industry is broken on the back of something like this is wrong. There are very few properties which this affects.
This is a service industry. The business model is being attacked. People are saying that the management fees are too high, they should have been rising. This is not sustainable in the future. You can’t have everything rise and then charge less. I’m sure everyone who runs a business will agree. We are moving towards an expectation that everything should be done for free.
Housing Associations. I don’t agree with the model of these. We manage the block, and they are the leaseholder. No-one talks about the excess money that Housing Associations are bringing in. I want to see more people coming out and disagreeing with the narrative. Speak to some people who are happy rather than the people who are not happy, all the time.
Best Moments
‘Negative narrative of the media is not backed up.’
‘When you have a story there should be a balance.’
‘Speak to some people who are happy.’
‘If you nationally decide to bring down the cost. Subsequently, then the industry will be worse, not better.’
‘Lots of people have signed up and bought leasehold houses, and the argument is they don’t know what they are buying. I don’t except that.’
‘We are moving towards an expectation that everything should be done for free.’
‘Make sure all sides are represented.’
‘There should be a fee on creating an extension.’
‘Leasehold is not broken.’
‘You have to look at the bigger picture, you can’t just make one change.’
‘Leasehold at its core is odd.’
‘I don’t see the problem with doubling ground rent’
‘Leasehold is good.’
About the Host
I don’t know how this works, but you’re here now listening (hopefully) about my exciting life, so I’m going to try and make this worth your while.
I never got inspired at school, I was too busy trying to impress my peers, chasing girls, and being a fool to get inspired. I rejected school.
But let me tell you something for free! That was a mistake! I spent the next 15 years in jobs I hated, with no direction, lacked purpose, and motivation for life.
Yes, big words, but that was me in a box. A slave to the system!
Fast forward to today, and well, I’m not sitting in my ivory tower or anything, but I love life and my career. Yeah, it’s both painful and exciting rolled and wrapped up into one giant subway, and who doesn’t love subway rite?
The point is, you only get one life, don’t waste it pursuing things you care nothing for, invest in YOURSELF and grow as a person, be the best YOU by putting YOU first!
Contact Method
Website: http://desmondmoreira.co.uk
Youtube Channel: https://www.youtube.com/channel/UCo6eVOt1YEQD0dxNkRXevVg/featured
Twitter: https://twitter.com/Desmondmoreira
Instagram: https://www.instagram.com/desmondmoreira/
This show was brought to you by Progressive Media