Boys & Maughan regularly assist people in who would like to have greater control over their leasehold property.
In 2002 the Government passed legislation, the Commonhold and Leasehold Reform Act, in recognition of the fact that in some unfortunate situations owners of leasehold flats have problems with their landlords, the owners of the freehold, in respect of the management of the building they live in.
Problems that occur commonly involve disputes over service charges, lack of maintenance of the fabric of the building or, in some cases, a total lack of contact with the landlord. If you find yourself in this situation ask us about Right to Manage (RTM).
Even without such problems, leaseholders have the right to manage the building in which their flat is situated if there is enough of them to band together to do so.
In addition to the Right to Manage, leaseholders have had for many years, the right to purchase the freehold from the landlord. This is formally known as the Right to Enfranchise (RTE).
We have recently advised clients in Broadstairs, North Foreland and Palm Bay on their Right to Enfranchise and Right to Manage claims.
We can also help if you would like to extend the lease on your property.
Right to Manage (RTM)
Leaseholders and their neighbours can make a claim to take control of the maintenance and service charges of their building. If successful, you can save money and ensure that the building you live in is maintained satisfactorily. Leaseholders who have the Right to Manage also have the option to instruct managing agents to look after maintenance issues.
Right to Enfranchise (RTE)
Our solicitors can help if you would like to own the freehold of your leasehold property. If you own the freehold with your neighbours you are entitled to set and administer ground rents and leases. Exercising your right to enfranchise allows you to extend your lease for free.
Leaseholders can only exercise the right to collectively purchase the freehold title of the building in which their flats are situated if they themselves qualify and the building also qualifies.
If you own a flat with a lease that was granted in the 1960s, 70s or 80s you may have difficulty in selling or re-mortgaging it. With market values improving, now is the ideal time for you to exercise your right to extend your lease, especially if you are thinking of selling or re-mortgaging in the near future.
The right to a lease extension generally starts once you have owned the property for two years. When there is less than 80 years to run on a lease, the cost of an extension becomes considerably more expensive. For more details see the article here.
Email Paul Reeves at Boys & Maughan if you would like advice on Right to Manage, Right to Enfranchise or extending your lease. If you would like to phone Paul his number is 01843 234000. For a PDF version of this page click here.
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