Urban Owners, the LKP accredited managing agent which specialises in right to manage, has been bought by the larger Warwick Estates.
The sale concludes 10-years in property management of founder Steve Wylie, a former management consultant with Chicago based giant Accenture. It was after he personally encountered the absurdities of leasehold tenure as the owner of a central London flat that he set up Urban Owners.
The company was also noted for its innovative software systems, which have not been sold and which have been adopted by other management companies.
LKP routinely refers all leaseholders set on right to manage to Urban Owners, which has carried out more RTMs than any other organisation.
Furthermore, it has done so without making errors or urging combative strategies in the tribunal that have ended up losing leaseholders thousands of pounds.
Sebastian O’Kelly, LKP trustee, said: “We regard the RTM service provided by Urban Owners very highly indeed and will be keeping a close eye on how it continues.
“Barely a week goes by without us recommending leaseholders to speak to Urban Owners on RTM issues.”
RTM is provided to numerous other managing agents as a white label service on sites that Urban Owners does not subsequently go on to manage.
Mr O’Kelly added:
“It was a pleasure to accredit Urban Owners to LKP: its references in widely different blocks of flats and varied geographic locations were outstanding.
“Setting up this successful company, which employs 27 people, was a considerable achievement.”
Along with Rob Plumb, CEO of HML Holdings plc, and Cherry Jones, of Home from Home property management, Mr Wylie briefed civil servants on the leasehold property management business. He has also attended APPG meetings at Westminster.
Urban Owners is not a member of ARMA.
LKP wishes Steve all the best for his future projects.