The webinar provided a comprehensive introduction to the Leasehold & Freehold Reform Act 2024, highlighting its primary objectives and significant changes, including the ban on the grant or assignment of long residential leases of houses, substantial amendments to leasehold enfranchisement and lease extensions for both houses and flats, and significant changes to the residential service charge regime and regulation of estate management.
It also covered updates to leasehold and estate management redress schemes, the extension of the right to manage, and the regulation of rentcharge demands and amendments to remedies for rentcharge arrears. Additionally, the concept of commonhold was explored, discussing its benefits and potential to replace traditional leasehold arrangements.
Finally, the practical implications of the Act for local authorities were examined, including challenges and opportunities, and possible solutions and strategies for effective implementation and compliance with the new regulations were proposed.
