Archive for August, 2007

Changes in the Property Market

The UK property market has gone through and continues to face change, much of it due to Government intervention.

Some changes, including REITs, have been welcomed, but some have transferred burdens from Government agencies to the property owner and/or occupier. Property management is now a minefield of laws and regulations. Those relating to asbestos and fire are just two examples.

The industry, too, is slowly coming to terms with the financial impact energy conservation will have upon it. It will not be long before, like the fridges we buy, buildings will carry energy performance certificates.

There have been attempts by the industry to forestall further legislation, by the introduction of Codes of Practice. However, whilst the large property bodies generally embrace their contents, many smaller organisations ignore them – possibly due to the fact that their property advisers fail to bring them to their attention.

Judge made law continues to surprise, too. Just when we thought we had learnt the lesson that time is not of the essence in relation to rent reviews, along comes Blackburne J’s decision in Secretary of State for Communities and Local Government v Standard Securities Ltd [2007] EWHC 1808 (Ch).

Change needs to be kept abreast with. If you are concerned that you or your organisation may not be right up to date, think about contacting us at Hatherleigh Training.