Congratulations to Richard Bowser on the remarkable achievement of the 250th print colour edition of Property Investor News since its launch in January 2003. I have had the pleasure of knowing Richard since the magazine’s inception and am honoured to be a columnist for this prestigious monthly publication. Well done to Richard, Ross, and all the team for your dedication and outstanding work in the industry.

What’s Happening in the Leasehold Sector?
The Future of Leasehold and Freehold: Key Reforms Ahead
The King’s Speech on 17 July 2024, outlined the government’s ambitious plans to overhaul the leasehold and freehold systems through the new Leasehold and Commonhold Reform Bill. Expected to be introduced in 2024/25, this draft legislation aims to end the feudal leasehold system and rejuvenate commonhold. Here’s a detailed look at the upcoming changes and how they might affect you.

Key Elements of the Leasehold and Commonhold Reform Bill
1. Bolstering Leaseholders’ Rights - The bill will implement the remaining Law Commission recommendations to strengthen leaseholders’ rights, including extending leases and enhancing their ability to manage properties through the Right
to Manage.

2. Tackling Unregulated Ground Rents - The government plans to address escalating ground rents, which can hinder leaseholders from selling their properties. Currently, 86% of leaseholders pay ground rents averaging nearly £300 annually in England.

3. Removing the Threat of Forfeiture - Leaseholders will no longer risk losing their homes over small unpaid debts like ground rent.