Article March 12, 2012 Issue

An answer in the night

By Wanda Hill

About fifteen years ago, a nighttime revelation saved my husband and me.

We had bought and were managing a partly tenanted apartment building in central London. We had wanted to include the existing tenants in the purchase of the property in order that everyone might own their own leases. All had gone well apart from one individual who had initially attempted to buy the building himself, but had been unable to raise the finance.

Several years passed, and although this individual often seemed uncooperative in the running of the building, we all seemed to rub along quite happily. However, at one point a major repair to the building was required that impacted this individual’s flat. He refused to give access to his unit in order to carry out the repair, which led to deterioration and damage to the building. Despite our attempts to sort out the matter, he eventually instigated legal action against us and we were faced with a substantial claim based on damage to his flat. My husband and I suddenly faced potential bankruptcy.