Steve Wylie, director of Urban Owners, comments: “The St George Wharf versus Peverel case illustrates why it is essential to ensure leaseholders are fully informed on what is happening within their development and the impact this may be having on their service charges.
“Urban Owners is lobbying for simple changes to service charge account disclosures, which will bring this information to the attention to leaseholders and help them decide whether their landlord or managing agent is levying reasonable charges.
“I hope this case highlights for leaseholders how large the level of unreasonable charges, commissions and the use of related group companies for financial gain can be and that it will act as a catalyst for leaseholders to take control of their block through the Right to Manage legislation. Managing agents and landlords need to place leaseholders’ interests at the heart of what they do and treat leaseholders as clients, not as cash machines for their own benefit.”
James Staunton, a St George Wharf resident, comments: "As a resident in this block I think it’s fair to say there was extreme anger that we were being taken for a ride by the managing agents. The service charges were inflated and the accounts didn’t stack up. Although the details of the out of court settlement are private I see it as a victory for the leaseholders who will now not be burdened with such large and unfair management costs."
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