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Your Rights as a Leaseholder

If you own a leasehold property you will have a lease, which is effectively a contract that gives you the right to occupy and use your property (usually a flat but in some cases a house) for a certain period of time.

The lease is of a predetermined length and will eventually expire, unless remedial action is taken to extend it. The actual building that houses a leasehold property is owned by the freeholder who is entitled to take back the keys of the property once the specified time period has elapsed. In reality, this day seldom comes because circumstances will force the leaseholder to do something about the diminishing lease and there are certain rights to remain in occupation paying a market rent for the use of the property. However, in theory, the property will revert to the ownership of the freeholder, who is sometimes referred to as the 'reversioner' as a result.

Leasehold enfranchisement legislation implemented from 1967 to 2014 has made it progressively easier for owners wishing to purchase their freehold (collectively with fellow leaseholders), extend their leases (individually) or exercise the Right to Manage their buildings (collectively), but leasehold as a topic is one that many consumers and even property investors in England and Wales do not fully understand.

ALEP is committed to raising awareness in the wider industry and to consumers, and ensuring that clients of our member firms receive both the information and support they need, as well as a thorough, quality service.

ALEP News

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    Join us for a show you'll never forget, exclusively for ALEP members with multi-award winning magician Etienne Prad… https://t.co/VMHztul0Sw

  • Monday 12 April 2021

    RT @Piers__Harrison: In a collective claim the fact that the two interests currently are controlled by the same person may make the achieve…

  • Wednesday 7 April 2021

    RT @TConveyancer: ALEP Director warns that cladding crisis will not necessarily cut costs of enfranchisement | Today's Conveyancer #Propert…

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