A Housing Forum Good Practice Guide Sustainable Leasehold and Long-term Asset Management 27 Transformation of the Loughborough Park Estate, Brixton, South London. Image supplied by bptw partnership allowed to happen. Local councils have for many years had to grapple with the challenges of leaseholder housing: the London Borough of Lambeth, for example, has approximately 30,000 homes, of which almost 10,000 are leasehold. Housing associations will have to focus on a number of specific issues in dealing with the impact of the Right to Buy: l The accuracy of accounting data and reporting. l Correct apportionment of costs. l Managing sales and resales; values, fees, administration costs, lease terms, lease extensions, ground rents. l Differentiating services and products – some private landlords are seeking to add services to their list of management tasks such as concierge services including package collection, dry cleaning and security, sales and resale agent services. l Section 20 notices and the management of cash flow. The cost of the works often places a great financial strain on the freeholder’s cash flow. Careful service of notices and discounts for early payments can ease the problem. l A different mind-set is needed for different tenures – one size does not fit all. Good property management is key, along with high levels of communication and effective collection.
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