Buying and selling
In buying a flat, you are buying into a community with a joint responsibility for common repairs and management. Good property management is more important than good decorative order when it comes to buying a flat.
The best flat to buy will be one which has:
• an active owners' association, giving leadership to maintaining the building
• good property management arrangements
• a programme of works underway or recently completed
• a maintenance plan
• a building reserve fund
You are unlikely to find a flat that meets all these requirements and which is of the right size and in the right place, so check carefully what you are taking on.
If you are considering selling sometime in the next few years, work with your neighbours to try and put good management in place before you put your flat on the market.