Residential property
Leasehold Enfranchisement and Lease Extension
Desk Top Enfranchisement / Lease Extension Appraisal
Housing Health and Safety Rating System (HHSRS)
Valuation Report
This is a brief report in respect of value only. Reports are formatted for a variety of purposes including mortgage security, taxation, probate and family issues but a detailed analysis of the condition of the property is not included in the report.
RICS Condition Report
Suitable if you are buying or selling a conventional house, flat or bungalow built from common buildings materials and in reasonable condition. It focuses purely on the condition of the property by setting out the following:-
• Clear 'traffic light' ratings of the condition of different parts of the building, services, garage and outbuildings, showing problems that require varying degrees of attention.
• A summary of the risks to the condition of the building.
• Advice on replacement parts guarantees, planning and control matters for your legal advisers.
Note:An RICS Condition Report does not include a valuation, but we can provide this as a separate additional service.
RICS Homebuyer Report
The HomeBuyer Report provides buyers with all the basic information they need on condition and value before they commit to purchase. The report is designed for most properties built since 1850 and includes comment on all visible sections of the property. It gives a simple traffic light condition rating for elements of the building so that you know where any action is required before you buy, in an easy to understand format. Also included is a market valuation that indicates whether the property you are buying is good value for money, plus a reinstatement cost figure for insurance purposes.
RICS Building Survey
(also known as a Structural Survey)
This is the most detailed type of report available, and is particularly suitable for individual properties, including large, extended or older buildings. The report will include full details of all visible elements of the building and items of disrepair and defect. It will also include information relating to the method of construction, condition of the structure and likely future repairs. A recommended reinstatement cost for insurance purposes is included but the report does not include a market valuation. This can be provided as a separate additional service.
For more information on the types of survey available look
under Home Surveys on http://www.rics.org.
Insurance Valuations
An insurance valuation is an assessment of the rebuilding cost of the property which reflects the construction type and includes all ancillary features like roadways, gardens, stores etc. Such assessments are carried out in accordance with RICS/ABI guidance on both houses and blocks of flats. Most leases for blocks of flats require a regular updating of insurance valuations based upon accurate rebuilding figures. This is usually required every 3 years.
Leasehold Enfranchisement and Lease Extension
Whether you own a leasehold property or are a freeholder subject to leasehold interests the Practice has extensive experience in providing advice on these matters. As a result of this we have acquired expertise in the leasehold property market and act for a number of national commercial and social landlords as well as tenants.
We carry out valuations for collective enfranchisement and lease extension purposes under the Leasehold Reform, Housing and Urban Development Act, 1993, as amended by the Housing Act, 1996 and the Commonhold and Leasehold Reform Act, 2002. We also undertake valuations for freeholders and tenants of houses seeking to enfranchise or a lease extension under the Leasehold Reform Act 1967.
We act as both expert witness and advocate at Leasehold Valuation Tribunals and have also given evidence to Lands Tribunal.
Desk Top Enfranchisement / Lease Extension Appraisal
To enable an estimate of the likely costs of lease extension and /or enfranchisement to be made, the Practice offers a Desk Top valuation appraisal service. These valuations are based upon the information submitted by the client in conjunction with the property price and other data held by the Practice. These valuations are sufficient as initial guidance.
Housing Health and Safety Rating System (HHSRS)
These include bed-sits and other houses/flats which are occupied by people from more than one family. A new definition brings many houses into this category, including student shared houses. Standards for amenities, room sizes and management apply to these houses.
Larger higher risk HMOs must be licensed by the local authority. There is a power for local authorities to license smaller HMOs to address particular problems that may exist. Licences will last for 5 years. A tenant of an HMO which should be licensed but is not can apply to have their rent repaid.
The Practice has specialist knowledge of the Housing Act 2004 provisions as they affect HMO's and particularly the Local Authority criteria for Licensing. We have provided advice on Licensing to numerous residential property portfolio owners.
Empty Properties
An Empty Dwelling Management Order can be made on properties that have been empty for at least 6 months. The property is brought back into use with the owner retaining ownership.
The Practice has acted for property owners subject to such notices under this legislation. We have detailed knowledge and experience of this legislation has enabled these Orders to be reviewed and modified. Our experience includes representation to the Residential Property Tribunal.
