Tenants of houses may wish to buy the freehold from the landlord and since the Commonhold & Leasehold Reform Act 2002 they are able do so after two years’ ownership. Similarly, the Act also provides for the ability of tenants of flats to get together and take over the management of their block or buy the freehold collectively from the landlord. This process is known as enfranchisement. We will guide and assist the landlord or tenant through the informal or formal statutory procedures and documentation involved.
The right to manage can be a useful tool in the event that you experience poor management of your building, or pay high service charges and management fees. By exercising this right, you and your fellow tenants can make sure your charges are reasonable, and that you benefit from these charges and fees.
Where tenants in a block of flats wish to enfranchise, we will assist with the setting up of the tenants' company and advise regarding the respective duties of the tenants' company in dealing with the management or ownership of the block.
If you or you and your fellow tenants would like to take advantage of the right to manage scheme or pursue collective enfranchisement, we can guide you through the process. Contact us if you would like to discuss tenants right to buy or right to manage by completing our no obligation online enquiry form or call us on 0191 5666 500.