The Commonhold and Lease Reform act of 2002 is a legislation that puts the power back into the hands of the leaseholders. It gives the right for leaseholders to force the landlord’s management functions to a special company set up by them – the right to manage company.
Leaseholders can now decide on their own management agent, without the consent of the landlord. This means greater control for leaseholders over how their property is managed and is available to the leaseholder of any flat, but not a house, regardless of whether the property is being managed well or not.
Since this legislation was introduced Walton & Allen Property Management have helped many leaseholders save as much as 30% on maintenance costs, while also delivering a high standard of building maintenance.
To discuss the possibility of Walton & Allen taking over the management of your building, get in touch with a member of our block management team in Nottingham today.