ARMA in the News – Dr Nigel Glen Discusses the ‘Draft Building Safety Bill’ on BBC Radio 4’s ‘You and Yours’
On Monday 31 August ARMA CEO Dr Nigel Glen was interviewed on BBC Radio 4's 'You and Yours’, discussing the implications of the new Draft Building Safety Bill.
To listen to the interview, click here. Nigel can be heard speaking from 17:58 onwards.
Implications of the Draft Building Safety Bill on Leaseholders
Nigel addresses one area of concern for both ARMA and leaseholders - the cost of implementing key parts of the Bill falling outside of the service charge.
Within the service charge leaseholders have a degree of protection from any additional costs exceeding £250, however they won’t be protected from any charges which fall outside of this. With the cost of appointing a Building Safety Manager alone likely to be in the region of six to ten thousand pounds per building, many leaseholders are fearful that they will soon face a significant bill to ensure their building complies with the incoming regulations.
To achieve compliance with the Bill, residential blocks will also need to ensure the remediation of any unsafe cladding. This poses another question over funding, as the government’s £1.6 billion cladding remediation grants for the public and private sectors will not cover all the unsafe cladding present in thousands of properties inhabited by half a million residents. The result? Large numbers of leaseholders living in hazardous and unsellable properties, fearing a crippling bill landing on their doorstep.