Category: Leasehold Reform
Market trends, transactions and news stories from across the business.
HMO licensing reform
The private rented sector (of which Houses in Multiple Occupation (HMOs) form part) has undergone significant growth in recent years and is now the second largest tenure in the UK. New regulations came into effect on 1 October 2018 and expand mandatory licensing requirements.
Pilot scheme for unopposed London business lease renewals
Under the Landlord and Tenant Act 1954 (1954 Act), a tenant occupying premises for business purposes has a statutory right to renew their lease, unless it is excluded from the provisions of the 1954 Act, or the landlord successfully opposes the grant of a new lease under section 30 grounds (e.g. tenant’s failure to comply with repairing obligations, persistent delay in paying rent and landlord’s redevelopment).
Unopposed Business Lease Renewals Pilot Scheme & The Role Of The Expert
The First Tier Tribunal’s pilot scheme for unopposed business lease renewals came into force on 1st January 2018 and is expected to last for one year. From this date, unopposed lease renewals issued in the County Court at Central London (the “CCCL”) will be transferred to the First Tier Tribunal (Property Chamber) (the “FTT”).
Leasehold reform: Past, present & future
Over the last year, there have been some political advances on Leasehold properties which may potentially have significant implications going forward. Most notably, leaseholds on new build homes have been abolished.
Purchasing your home's freehold is easier than you think
Leasehold property owners often find themselves in dispute with their freeholders, over everything from where the cheapest insurance has been obtained to the quality of the management. One way to overcome these quibbles is to buy the freehold and take control, and doing so is easier than you might think.