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  • Buy-to-Let

    Ex-Council housing stock being off-loaded

    I’ve an ex council 2 bed flat, the ALMO that now manages the property has undergone huge changes on how management charges are dealt with. Previously they had dedicated housing officers that dealt with minor issues and inspections and were charged for in the general “ management fee” , now this has changed and the likes of emergency light, entry phone, risk assessments basically anything they can think of raises a bill.

    The aftermath of grenfell has made them suddenly want to address fire safety issues they had avoided under the “major works “ get out, which also means a back log of works has suddenly come to the fore.

    this has meant a sudden surge in ex authority property coming to market in my area, no doubt landlords needing to reduce leverage etc see such properties as the obvious ones to unload.

    anyone else seeing a similar pattern in their area?

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