By Tom Lowe2021-05-20T13:45:00+01:00
Months of damaging headlines take their toll as trust in group falls by nearly a third
The Royal Institution of Chartered Surveyors (RICS) has promised to regain the trust of members after initial responses to a review into its future purpose revealed satisfaction rates have crashed to an all-time low.
The review, which was launched earlier this year amid a member revolt over a governance scandal, received over 8,000 online responses while a further 1,000 written responses were also sent in.
RICS president Kathleen Fontana admitted the responses made for uncomfortable reading
RICS president Kathleen Fontana admitted the feedback from members had made for “challenging” reading and said the message from respondents was that there “must be changes” at the 153-year old organisation.
A strategic review of the fund, as well as Aviva Investors redemption request assumptions, concluded that its ability to fully benefit from the economies of scale and the diversification of investments that collective investment schemes normally bring would soon be limited . Size is particularly important for funds that invest in property directly because the costs involved in acquiring, managing and disposing of properties are usually much higher than the costs associated with other asset types, Aviva told investors. As such we have concluded that it would now be in investors interests to wind-up the funds and return cash to investors in a fair and orderly manner.
A housing market that ground to a complete halt last year is suddenly white hot, as pent-up demand meets a controversial tax holiday. Conveyancers are working flat out to cope, but a process that dates back to the 19th century remains in need of urgent reform.
Homeowners locked in disputes with neighbours over misplaced fences are being offered a new solution which could save them hundreds of thousands of pounds in costly court battles, This is Money can reveal.
Property lawyers told of cases where neighbours had spent more than a quarter of a million pounds trying to address boundary issues, as legal fees piled up following months or even years going through the courts.
And they said that this had got worse during lockdown, as people have been confined to their homes and quarrels over things like fence ownership, unkempt hedges, party walls or use of driveways have escalated.
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