Section 20 consultation has been completed for major works, and works will be initiated ASAP since the current status of the building is causing damage to demised premises within the building. However, the leases only allow for the costs that were projected to be required at the start of the maintenance year to be demanded in the current year, and these costs were not known at that time.
Therefore, the major works will have to be completed prior to the funds being available in the service charge accounts.
Is there any way around this situation, or is it the freeholder's responsibility to fund the works until such time as the annual accounts are audited and the deficit recouped from leaseholders? Delaying the works until the end of the maintenance year is not an option.
Many thanks
Therefore, the major works will have to be completed prior to the funds being available in the service charge accounts.
Is there any way around this situation, or is it the freeholder's responsibility to fund the works until such time as the annual accounts are audited and the deficit recouped from leaseholders? Delaying the works until the end of the maintenance year is not an option.
Many thanks