'Commonhold' Legal Reform for Flats
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Please check back soon, we will provide updates on Commonhold in due course.
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The Law Commission is writing a report for Government recommending changes to the legal tenure of flats in England – from Leasehold to ‘Commonhold’ and they want to hear individual opinions.
The BRA is presenting your views to the Law Commission because so many of our members live in flats.
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‘Commonhold’ means each flat dweller owns the freehold of their individual property and is a voting member, together with other neighbours, in a company which owns and manages the common parts of the building. Company Directors would be chosen from amongst the owners.
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Under a ‘Commonhold’ system there’s no freeholder and no ground rent. Service charges would still be paid.
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Owners would appoint their own managing agent who reports to the ‘Commonholders’ – or if it’s a small building, owners can choose to manage maintenance, repairs, staff and insurance themselves.
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The idea behind ‘Commonhold’ is to give people control over their own home environment, and to decide how their service charge funds are spent.