The vast majority of landlords hope commonhold will prove vital to improvements in the sector.<\/p>\n
Almost half of the landlords polled (46%) said they were hoping for lower service charges under the new system. More specifically, just over a fifth (21%) said they were looking forward to better maintained buildings and the opportunity to charge higher rents as a result.<\/p>\n
Rob Stanton, sales and distribution director at Landbay, which conducted the poll, said: \u201cIt\u2019s clear where landlord preferences lie: nine in ten landlords believe commonhold could slash service charges and deliver blocks that actually stay in top shape.<\/p>\n
\u201cNearly half are banking on lower bills, while one in five see better-maintained buildings unlocking higher rents and happier tenants. The Government has lit the fuse; now landlords want them to deliver.\u201d<\/p>\n
A white paper published in March stated the sale of new leasehold flats would be banned and commonhold \u201creinvigorated\u201d with a new legal framework.<\/p>\n
In March the government said it would ban the sale of new leasehold homes by the end of this parliament, in what ministers described as the end for a centuries-old \u201cfeudal system\u201d.<\/p>\n
\t <\/p>\n
The government says it wants to move to a system of home ownership that is more in line with the rest of the world, known as commonhold, where homeowners own a share of and have control over the buildings in which they live.<\/p>\n
Under the current leasehold system, third-party landlords known as freeholders own the building and a leaseholder buys the right to occupy a flat within it for a fixed time period.<\/p>\n
Landbay asked landlords if there were practical reasons that would prevent them from embracing commonhold.<\/p>\n
Almost half mentioned the threat of mismanagement by commonholders (49%) while a similar number worried about the need to secure 100% agreement among leaseholders (49%).<\/p>\n
More than a quarter (26%) were worried about their lack of liquidity and said they wouldn\u2019t have the cash reserves. Just over a fifth (22%) said their current freeholder ran their property well.<\/p>\n
Previous polling from Landbay found that nearly two-thirds of landlords (64%) do not believe the government could deliver leasehold reform by the end of this parliament.<\/p>\n","protected":false},"excerpt":{"rendered":"
The vast majority of landlords hope commonhold will prove vital to improvements in the sector. Almost half of the landlords polled (46%) said they were hoping for lower service charges under the new system. More specifically, just over a fifth (21%) said they were looking forward to better maintained buildings and the opportunity to charge […]<\/p>\n","protected":false},"author":1,"featured_media":5650,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n