A very good article by Michael Voges, who heads the Association of Retirement Community Operators – that is, Audley, Extra Care Charitable Trust, Retirement Security Limited, Anchor etc). Mr Voges writes: “The quality of services and staffing has by far the largest impact on whether customers will recommend a scheme to a friend, so services […]
Archives for 2018
Downsizing pensioners assailed by ‘fleecehold’ charges, reports Daily Mail
December 14, 2018 By
Fleecehold charges have been reported in the Daily Mail: Retired engineer Walter Wright and his wife Peggy thought they had found the perfect place to downsize,. The three-bedroom detached home was only a couple of years old and would need less upkeep than their bungalow, which had a very large garden. When they purchased the £269,000 […]
Rectory Court slashes service charges after dumping Stonewater for right to manage LKP accredited managing agent
December 5, 2018 By
Cherry Jones has managed to drastically reduce service charges using local contractors … The epic right to manage victory at Rectory Court – where Stonewater was given the boot and the new manager is LKP-accredited Cherry Jones of Swindon-based Home from Home – has made it to the national press. The leaseholders at the 44-flat […]
VAT on house managers’ wages will cost leaseholders £50m a year, says Rendall and Rittner
November 16, 2018 By
Changes to impose VAT on the salaries of house managers and concierges in blocks of flats will add £50 million to service charges, Rendall and Rittner tells LKP. Founder Duncan Rendall said: “This is a huge own goal by the Government given their stated objectives of trying to reduce the cost of leasehold. “The capitalised […]
Did government concession on ground rents stuff new thinking in retirement housing?
November 14, 2018 By
The new chief executive of McCarthy and Stone John Tonkiss is delighted the government has caved in over retirement housing ground rents, while announcing strategic changes that were prompted by the prospect of this reform. The company argued strongly in favour of ground rents because it was disadvantaged by having to provide communal areas at […]
VAT added to cost of house managers from November
October 12, 2018 By
The cost of in-house house managers goes up from next month. Her Majesty’s Revenue and Customs (HMRC) has issued new guidance regarding the payment of VAT for site-based staff at developments. Applying the correct VAT liability on residential domestic service charges (VAT information sheet 07/18) This information sheet, together with Revenue and Customs Brief 6 […]
ARHM: This time the impetus to reform leasehold is serious …
October 4, 2018 By
If there is one thing that those seeking reform of the retirement housing sector and those employed in it can agree on – actually there is rather a lot we now agree on – it is that this time the impetus for leasehold reform is different. ARHM chair Richard Wheeldon made the point in his […]
Retirement housing message to Clive Betts MP’s Select Committee
September 10, 2018 By
By Michael Hollands I am interested in Leasehold Retirement Complexes of which I have much experience in the way many unfortunate Pensioners are robbed of their valuable savings. 1 When purchasing new these retirement properties are always more expensive than the non retirement properties, manly because they are desperately needed by elderly who have to […]
APPG July 11: Robust debate over retirement ground rents and event fees
July 13, 2018 By
By Sebastian OKelly, LKP trustee The controversial issues of ground rents and exit fees in retirement housing were discussed at this week’s meeting of the All Party Parliamentary Group on leasehold and commonhold reform. These were the main event in a meeting which also had an insider’s examination of leasehold insurance commissions, and why developers […]
APPG July 11: Retirement event fees ‘align interests of buyers and operators’, Michael Voges tells meeting
July 13, 2018 By
By Michael Voges, executive director ARCO Retirement event fees – a term used to describe exit fees on re-sale – align interests of buyers and operators and are the business model for retirement housing in New Zealand, Australia and the US, said Michael Voges, executive director of the trade body the Association of Retirement Community […]
APPG July 11: The case for ground rents from McCarthy and Stone
July 13, 2018 By
By Clive Fenton, CEO McCarthy and Stone Hello, my name is Clive Fenton and until 31 August I’m the CEO of McCarthy & Stone. Thank you for inviting me here today. Today was never destined to be my easiest day in the office. I recognise that as a promoter of retaining ground rents for retirement […]
APPG July 11: Retirement fees whether ground rents or event fees need to be for designated services not open-ended profits, says AgeUK
July 13, 2018 By
And grounds cannot be set to zero but maintained in the retirement sector By Joe Oldman, AgeUK Age UK strongly supports extending the range of housing options available for older people – so we want to see a significant expansion in good quality retirement schemes and villages. We also recognise and appreciate the efforts of […]
