Each block has an informal residents’ association that collects maintenance charges and pays outgoings. These usually involve a landlord and leaseholder and require the landlord to maintain and insure the premises. Landlords can employ managing agents to provide services and usually use professional firms. Many modern “tripartite” leases involve more complex arrangements. Again, such companies frequently employ agents to provide services and collect charges.…

Source: The Times January 24, 2020 00:00 UTC