The RICS has recently provided valuation guidance on the Valuation Approach for Properties in Multi-Storey, Multi-Occupancy Residential Buildings with Cladding. The guidance is in response to the Governments recent publication of the Building Safety Act 2022. In essence the Act and also the RICS guidance is good news for flat owners (leaseholders), who have otherwise become trapped by the potential for having to bear the cost of remediation. However, such liabilities have been significantly capped for qualifying Leaseholders!
The link to the RICS guidance is https://lnkd.in/gs5mJ_md
