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The economic sentiment for individuals and corporations is fluctuating more than more than the weather! I don’t think anyone really knows where we are heading or whether the Coalitions deep cuts are right or wrong.
What is for sure though is that as a generality flat owners are watching the pennies more and more.
For us it means staying on top of service charge collection allied with making sure we budget well and stick to it.
What we are also finding is an increase in requests to review service charges in buildings we don’t manage but act as consultants to verify all us as it should be.
Usually there are elements that lead to rebates but occasionally we find some very dodgy practices. I have commented regularly on human nature for getting away with stuff and the opportunities property affords on this. But when there is blatant abuse it always shocks and means the prospect of regulation should be an easy win.
What it will take for the politicians to realise this is anybody’s guess. What the property trade bodies are doing to enforce standards is also mostly opaque.
In the meantime we keep campaigning, pushing and challenging to clean up the murky parts. Whether anything will change – who knows!
Of course other industries have issues and problems but there is something basic about property and professionalising it. After all it affects everyone and everything.
Land and property hits every part of our lives after all.
01 Sep 2010 09:17:10