How many Section 20's will Partners leaseholders receive for lifecycle work?

A- Short answer “as many as necessary”.

 

Long answer  below:

 

Re:  How many Section 20’s will leaseholders receive for lifecycle work? (R2-PFI5412)

From: John Venning Partners

To ‘charles ‘, Susanne , chris, Ami-Anne Spring

From: John Venning

Sent: 01 April 2011 17:21:30

To:  ‘charles ‘

Cc:  Susanne ; chris ; Ami-Anne

 

Dear charles

 

 

 

I am writing to you in response to your follow up query regarding the number of Sect 20 s leaseholders might expect to receive during the lifecycle period.

 

As previously stated in my email dated 4 February 2011  this is very difficult to answer but I hope that I am able to provide further guidance.

 

The PFI 1 runs until 2033 and PFI 2 until 2022.  Therefore,  Partners will obviously be issuing far more PFI 1 Sect 20 s over the term of the contract .  However, I am not sure that trying to calculate the number of Sect 20 s Partners will issue for an individual property or across the stock is the best way of estimating your liability or the liabilities of other leaseholders over the next few years.

 

 

The best way of estimating this is to assess the condition of individual properties and make informed assumptions about the life expectancy of the major components and their likely repair/replacement cost over a given time period.  This is how a surveyor would establish potential future maintenance liabilities for an individual property or properties.

 

 

The main building components that you would be liable for are:

 

 

Roofs

 

Windows to your flat

 

Structure of building including damp works

 

External finishes e.g. render and pointing

 

External common parts e.g. front path, steps, railings

 

Garden Walls

 

 

The cost of maintaining these components will depend on their existing condition.    If the component is in good condition then maintenance costs will obviously be lower.  Partners will continue to maintain a component until it is beyond economic repair and needs to be replaced.

 

 

Replacement costs will be your biggest liability and it is difficult to predict when these will occur without knowing the condition and life expectancy of individual components at your property.

 

 

Maintenance and replacement costs would also be determined by the size of the building, the larger the building the higher to the cost.

 

In addition to the maintenance and replacement costs, your property will be painted again in 2017.  The cost of this will also depend on the size of the property and the surface areas that require painting.

 

 

 

I hope that this is of some help.

 

 

Yours sincerely

 

 

John Venning

 

 

 

Asset Manager

Partners For Improvement in Islington

 

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