Leasehold Reform Bill

A Bill to amend the law relating to long leaseholders; to confer further powers on leaseholders; to make provision in relation to leaseholders in local council owned property and property owned by other social landlords; to confer powers on landlords to create sinking funds; to make requirements of landlords relating to the management of property; for conencted purposes

The Bill seeks to strengthen the rights of long leaseholders of residential premises. It tackles the charges that some long leaseholders of social landlords face as a result of major works being carried out to achieve the Government’s decent homes target by 2010.

Key areas

• Increases the involvement of long leaseholders in decisions over major works to their homes
• Limits the monthly charge that someone could be required to pay to their local authority landlord in respect of major works
• Requires the Secretary of State to make regulations under which local authorities would be able to establish sinking funds to which long leaseholders would be required to make contributions
• Requires the Secretary of State to make regulations concerning authorities’ powers/duties to buy back all or part of a long leaseholder’s property on request.