On the 7th January 2021, MHCLG announced that any leaseholder who chooses to extend their lease on their home will no longer pay any ground rent to the freeholder, enabling those who dream of fully owning their home to do so without cumbersome bureaucracy and additional, unnecessary and unfair expenses.
This change has opened up a number of questions that we address in our most recent chat with Alec Guthrie of HML Group, who specialise in managing RMC Directors. We delve into the objective of this change and discuss the following questions:
- As these reforms come into effect how do you think managing agents will need to adapt their thinking & business processes to embrace this change?
- What main pitfalls are there with resident controlled estates that government should have in mind when carefully drafting the revamped legislation?
- What are the key skills that property managers will need to adopt to manage these new tenure models?
Share your thought's on the new Leasehold Reform and how this may impact residential property managers in our LinkedIn member forum here.
If you have any questions relating to any of the topics discussed in this chat, please email, info@tpi.org.uk.
Recorded on 29th January 2021.
DISCLAIMER:
All content presented in these 'chats' is intended for general information purposes only and should not be considered as legal advice or official guidance.
