We have the specialist knowledge, expertise and experience to advise you in respect of any Leasehold Enfranchisement matter. We typically advise both landlords and leaseholders on the following:
a. Extending Leases – Increasing the term of a lease usually increases the value of a flat and makes it more saleable and easier to mortgage. Landlords receive a premium.
b. Buying or Selling Freehold Reversions – Statutory procedures enabling leaseholders to acquire their landlords’ reversionary interest in their building (Collective Enfranchisement), or enabling landlords’ to offer their reversion for sale to the leaseholders (Right of First Refusal).
c. The Right to Manage – A no fault based procedure enabling the leaseholders to take over collectively the management of their building and appoint their own professional managing agent
d. Missing Landlord claims – Whether a leaseholder wishes to extend their lease or acquire the freehold collectively, sometimes landlords go missing and cannot be found. Lease extensions and collective claims remain possible although the procedure is slightly different. In some limited circumstances the freehold can be acquired collectively at a reduced premium.
e. Applications to the First Tier Tribunal (Property Chamber) to appoint a Statutory Manager – A fault based procedure enabling a leaseholder to apply to have a manager appointed by the tribunal in place of the landlord or existing managing agent.
f. Applications to the First Tier Tribunal (Property Chamber) to Vary Leases – In some limited circumstances the tribunal has the power to vary provisions in long leases. Compensation is payable is some circumstances.
g. Applications to the First Tier Tribunal (Property Chamber) to challenge or determine service charges or administration charges or to determine whether a breach of covenant has occurred – A procedure for both landlords and leaseholders to have a dispute about service charges or administration charges (including management fees, cost of repairs, insurance charges, late payment fees and the landlords’ costs) or other breach of covenant resolved by the tribunal.
To learn more about our Leasehold Enfranchisement team, visit the ‘Our People’ page.