Here is news that will cheer up all leaseholders faced with threatening letters about late ground rent payments or service charges: Estates and Management is facing strike off from Companies House for late accounts.
Estates and Management Ltd (co number: 03244100) is part of the Consensus Business Group and manages the portfolio that still belongs, ultimately, to Vincent Tchenguiz’s Tchenguiz Family Trust in the British Virgin Islands.
It also manages the estate administration – read: revenue streams – for a number of other clients.
So if you pay ground rent, want to sub-let your flat, change your bathroom or keep a cat, the chances are you will be dealing with Estates and Management who will be after a payment.
To be late with accounts is not the most serious offence in the world, but it has a rich irony in a sector that monetises so ruthlessly the late payments of leaseholders.
It is also ironical that this has happened while commercialising freeholders are trying to persuade government of the necessity of professional landlords to leave the leasehold sector unreformed.
One leaseholder has contacted LKP to say that he is withholding his ground rents “until a clear public statement is available as to the financial state of the company no payments whatsoever will be forthcoming from my bank account”.
This is not an advisable course to follow, however, as an expensive letter from JB Leitch or some other debt collector will follow as swiftly as a rain cloud.
This particular leaseholder has form in confrontations with Estates & Management Ltd as he resisted “bully boy tactics from JB Leitch Solicitors on behalf of E&M and they finally caved in and agreed the correct amount due!”
Regarding late accounts, it has to be conceded that although LKP has not been late with accounts to Companies House, it has filed its accounts late to the Charity Commission, as an additional written annual report (2pp in our case) is required.