'Commonhold' Legal Reform for Flats
Thank you to all those who completed the questionaire.
Please check back soon, we will provide updates on Commonhold in due course.
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.
‘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.
Under a ‘Commonhold’ system there’s no freeholder and no ground rent. Service charges would still be paid.
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.
The idea behind ‘Commonhold’ is to give people control over their own home environment, and to decide how their service charge funds are spent.