FEES AND TERMS

SCALE OF CHARGES FOR VALUATIONS AND OTHER ADVICE IN RESPECT TO COLLECTIVE ENFRANCHISEMENT OF FLATS AND LEASE EXTENSION OF FLATS
(subject to adjustment to reflect location and degree of difficulty)

1 Initial Appraisal

Single flat (lease extension)	£200.00 inc vat
2 flats	£300.00 inc vat
3 to 4 flats	£400.00 inc vat
5 to 7 flats	£500.00 inc vat
8 to 10 flats	£600.00 inc vat
Over 10 flats or estate with number of blocks	Fee to be negotiated

2 Valuation Reports

Single flat	£400.00 inc vat
2 flats	£600.00 inc vat
3 flats	£650.00 inc vat
4 flats	£750.00 inc vat
5 flats	£800.00 inc vat
6 to 7 flats	£900.00 inc vat
8 to 10 flats	£1,000.00 inc vat
Over 10 flats or estate with number of blocks	Fee to be negotiated

3 Meetings
Tenants groups sometimes require me to attend a meeting. If the meeting is local to my office or can be linked to my inspection of the property or a meeting in which I am involved in close proximity to the property, then my time will be charged out at 50% of the standard rate as set out below for the initial meeting. Any further meeting, however, will have to be charged out at the full rate.

4 Negotiating/Interim Stage
Purpose – To enter into discussions with representatives of the freeholder in order to determine whether agreement by negotiation would be possible, the provision of any further advice required consequent to the service of the initial notice or counter notice and discussions with representatives of the other side in regard to an agreed statement of facts and areas of dispute when it becomes inevitable that the matter is going to be referred to Tribunal. To also provide advice as to whether or not any offers made by the freeholder should be accepted, taking into account all factors including costs and delays.

Service – All negotiations and advice required by the clients and/or their legal advisers, including reporting back on any discussions with representatives of the freeholder.

Fees – Charge out at the standard hourly rate. It is recommended that a figure be agreed in advance up to which fees can be incurred without seeking further instructions, say £400 + VAT.

5 Preparation of Experts Reports
Purpose – To provide a fully argued case and substantiate our opinion of the correct premium/price to be paid including all necessary supporting documentation.

Service 1. Endeavouring to agree and complete statement of agreed facts and areas of dispute with representatives of the freeholder.
2. Updating research.
3. Preparing report with necessary copies for the Tribunal and the other side and one for the clients (minimum five bound copies). Reports to include all schedules, coloured photographs and any other information considered to support the case.
4. Considering the other side’s report (if it is possible to exchange reports prior to the Tribunal) and producing counter submissions if considered appropriate.
5. Meetings with legal advisers/counsel if required.

Fees – Estimate only can be given as time taken will depend on particular circumstances of the case. We are much more able to give an accurate estimate once initial notice and counter notices have been served and the full nature of the dispute made clearer. Based on previous experience, however, the time taken going through both stages and preparing experts report varies between six and eight hours. If it is necessary to do counter submissions, this would involve between another two and four hours depending on the nature of the case which is being made by or on behalf of the freeholder.

Expenses – Disbursements involved in preparing and binding the report, including colour copies of photographs.

6 Preparation for Presentation of Case
Purpose – This only applies where South East Leasehold are instructed to present the case (thus avoiding the need to employ either a solicitor or barrister to be in attendance at the Tribunal) as well as acting as expert witnesses.

Service – Preparing initial statement made to Tribunal. Examining the case/valuation produced on behalf of the freeholder and determining what questions need to be asked in cross examination. Considering any legal issues that might arise and if necessary obtaining further advice.

Fees – This additional service normally involves two/three hours of time charged out at the standard rate.

7 Attendance at Tribunal
This will effectively take up a minimum of one day. Most Tribunals are dealt with within one day, but more complex cases or those involving a greater number of flats can extend on to a second, or in rare circumstances, a third day. The charge is based on the standard daily rate as below, plus disbursements and travelling expenses. The London Leasehold Valuation Tribunal lists a number of cases over two days. This means that two days have to be reserved even if the case itself will last no more than one day.

STANDARD CHARGE OUT RATES

R J Inniss BSc FRICS FCIArb £180.00 per hour plus VAT
Day rate £900.00 plus VAT

Simon Brook MRICS £130.00 per hour plus VAT
Day rate £500.00 plus VAT

Nicola Fairhurst FRICS £130.00 per hour plus VAT
Day Rate £500.00 plus VAT

Qualified Assistant £85.00 per hour plus VAT
Graduate Valuer £60.00 per hour plus VAT

COMPLAINTS
South East Leasehold operates a complaints handling procedure, details of which are available on request.