right to enfranchise
Did you know that as a Leaseholder you, and other Leaseholders in the block have the right to acquire the freehold of the building (referred to as collective enfranchisement), should you so wish?
Why would you want to?
There are a number of good reasons; one is to enable those residents who participate to grant themselves long leases for a nominal amount, and therefore having no further ground rent to pay.
It may give you the right to appoint your own choice of managing agent and have more say in how the building is managed, though this may not apply in every case. It may also be a very good selling point, should you eventually sell your property.
There are certain criteria that must be met in order to qualify and we would refer you to our Right to Manage section where the criteria is listed.
now professional property management can guide you through this process and would be happy to give you a priced proposal for our services, upon request.