Thanks Ashburnham for your sticky on this.
Below is a case I am dealing with as a lessor with a share of the freehold. Any suggestions welcome as to what could have been done and what should we do in future.
Block of 8 flats built 1984 as 4 town houses, each lessor owns a share in the freehold. Half flats are investment lets.
Elderly owner and resident of one flat goes onto hospital in Nov at whilst in leak occurs with copper pipe in concrete floor. When owner returns flat is too wet to live in so managing agent gets her into a care home. Insurers agree to pay £9,700 for repairs + £27,500 for the care home. Old dear passes away, flat is sold.
Agent fails to tell freeholders until AGM last week when more funds are required for the sinking fund as the insurance has increased. There has also been one other claim for a similar leak but discovered quickly.
Should loss adjuster have claimed on the builder's insurance - I have no idea if he is still around?
What should we do if anything to get around our now high insurance costs?
Below is a case I am dealing with as a lessor with a share of the freehold. Any suggestions welcome as to what could have been done and what should we do in future.
Block of 8 flats built 1984 as 4 town houses, each lessor owns a share in the freehold. Half flats are investment lets.
Elderly owner and resident of one flat goes onto hospital in Nov at whilst in leak occurs with copper pipe in concrete floor. When owner returns flat is too wet to live in so managing agent gets her into a care home. Insurers agree to pay £9,700 for repairs + £27,500 for the care home. Old dear passes away, flat is sold.
Agent fails to tell freeholders until AGM last week when more funds are required for the sinking fund as the insurance has increased. There has also been one other claim for a similar leak but discovered quickly.
Should loss adjuster have claimed on the builder's insurance - I have no idea if he is still around?
What should we do if anything to get around our now high insurance costs?