The National Leasehold Survey – the UK’s first ever independent national survey of the UK’s leaseholders – set out to identify the levels of satisfaction and areas of concern amongst the UK’s leaseholders and RMC directors.
Developed by Brady Solicitors and LEASE, the Government’s arms’ length body for the leasehold property sector, the survey received 1,244 responses from leaseholders and RMC directors throughout England and Wales.
The key statistics from the 2016 National Leasehold Survey
- 57% of leaseholders admit they regret buying a leasehold property.
- Two-thirds of leaseholders don’t feel they get a good service from their managing agent.
- Just 6% are very confident the managing agent could resolve issues.
- 68% of leaseholders have little or no confidence that their managing agent could resolve issues efficiently and effectively.
- 51% of leaseholders see a change in managing agent would improve matters and benefit the block.
- 1 in 5 leaseholders are unaware they could replace a poorly performing managing agent.
- 55% of leaseholders consider changing managing agents would be a difficult process.
- 48% of leaseholders believe a lack of knowledge is a real barrier to changing managing agents.
- 40% of leaseholders strongly disagree that service charge is value for money.
- 62% of leaseholders say the service hasn’t improved in the last two years.
- RMC directors are generally happier with their leasehold properties than ‘ordinary’ leaseholders due to a greater sense of control over the property’s management.
- Two-thirds of RMC directors feel they have a good relationship with fellow directors and leaseholders, but identify a need for a strong, wide skill set beyond legal and company expertise.
- 55% of leaseholders know where to go for information, but 32% definitely do not.
- 52% of leaseholders are confident they know their rights and responsibilities.