Residential property managment Essay Example | Topics and Well Written Essays - 2500 words

Residential property managment - Essay ExampleThe members of a household, namely owners or their representatives and occupants, unneurotic manage a real estate enterprise that makes use of inputs of land, capital, and labour for providing shelter and other services essential for maintaining a household.In the early thirties UK social lodging policy underwent a shift as local authorities abandoned general needs housing and the standards were reduced to make the housing affordable by poor families. Nevertheless, by the beginning of World War II, Britain had over a million council units, 10 per cent of the entire housing extend (Malpass and Maurie. 1999, p38- 43). Present case study has to be viewed in this perspective as the buildings scarf out were built in 1930s, which may require major repair and sustenance cost, at the same time may be exacerbated with tenant issues.The tenants of 10 flats, who are under rent controlled occupancy, have to be shifted to a newer better block two miles away. Decanting these occupants may involve umpteen hurdles as there may be occupants from the very beginning and most of them may be intelligent heirs to the original owners. Because of long stay in the same locality, may be from birth, majority of them will be unwilling to shift their housing locality to a new environment, and it also involves relocating their professional or commercial activities. It may be noticed that in areas which are typified by poor quality housing estates, many of which were developed before 1945, were using non-traditional forms of construction, and decaying infrastructure. Repair and maintenance of these blocks are costly and vacating these buildings is coupled with mixture of tenures caused by the Right to Buy (RTB) power vested on the tenants, which makes end/renewal more expensive. Compensating the home owners at full market value for the loss of their home is also a heavy burden on the developers.