Leasehold & Freehold Reform: Ownership Reimagined

The Leasehold and Freehold Reform Act 2024 marks a turning point in how homes are owned and managed.  What will be the affect on leaseholders, landlords and developers?

How will this affect Leaseholders who will now have greater rights to extend leases, buy freeholds, and take over building management, while developers and freeholders face tighter controls and reduced cost recovery.

The Act also amends parts of the Building Safety regime, expanding tribunal powers and redefining remediation obligations. For mixed-use schemes, the increased threshold for commercial space in Right to Manage claims (now 50%) could reshape governance and service charge dynamics.

While many provisions are already in force, others await secondary legislation, creating uncertainty around timing and scope. For clients with exposure to leasehold assets, proactive planning is essential.