There has been an important development regarding the
renting of property on the Sycamores which residents and
their families should be aware of.
background information on the subject - it would appear
that during the past 20 years or perhaps even longer,
renting an empty property on the estate by owners has
never been encouraged even though it is actually allowed
under the lease (see below), in fact as far as can be
ascertained renting does not appear to have ever
happened – that is until recently.
Clause 5.7 of the Header Lease reads:
It’s understandable that this could be a very attractive
solution for owners who having properties standing empty
while waiting for a sale, eg., they could possibly cover
the continued services charges, and should the property
be empty for a considerable time, enable them to recoup
some of the costs relating to the Sinking Fund which
currently stands at 5%. There is a downside of course,
however it is not necessary to point them out here as
folks will have their own ideas of the pitfalls.
It’s interesting to note that the sudden change by the
director and committee towards renting has happened
since the new managing agent took over the running of
the estate. It may be useful to point out that
HMP’s expertise actually lies in rented accommodation –
perhaps they have spotted a potential opportunity to
expand their portfolio and have had some influence with
regard to this change,
Something to ponder!