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Leasehold and shared ownership management

To avoid getting caught in the minefield of leases, service charges, and contracts, you would do well to have someone provide you with clear and concise guidance and legal advice.

While you still own your freehold – having granted a long lease through a resident exercising a Right to Buy, Right to Acquire, or on a shared ownership basis – you still need to take the following into account:

Leases

As with your rented stock, it is also necessary for you to manage your leasehold and shared ownership properties effectively. Unlike tenancy agreements, leases tend to differ depending on when they were granted, the scheme, and the property in question. 

Consequently, each lease is likely to be different.

This is where we can help. As well as the initial documentation, we can assist with the interpretation and variation of your leases to ensure the relevant and correct clauses are contained within them.

Service charges

This clause is one of the most important, as it enables you to recover the cost of the services you provide to your residents.

We can also help you take legal action against residents who are in arrears or who have breached their lease, and oppose challenges brought by residents who allege the services provided are sub- standard, or that the charge levied is unreasonable. 

Contracts

Legislation requires you to take specific steps where you are seeking to enter into a qualifying contract or carrying out works exceeding a specific value, and where you wish to recover monies from your residents. 

Not surprisingly, this area is complex!

If you do not follow the correct process you could end up having to pay the entire cost from reserves. We can help you consult with your residents, and on the procurement and contracts process.

What people say...

"I just want to let you know how helpful I found the information provided at the forums. All the speakers made the information easy to understand, and mixing with other housing associations provided me with further knowledge.

In the ever-changing world of housing it's often difficult to keep up with what's going on. The forums highlight changes and keep the shared ownership/leasehold community up to speed. With more changes ahead, I hope Shoosmiths will be there again to guide us through them."

Valerie Duffy - Leasehold Services Team - Mercian Housing Association

I enjoyed the forums very much. They were of great use to me in confirming and crystallising my knowledge, and they've enabled me to move forward in dealing with leasehold debt in my organisation. I should like to express my appreciation for the work you and your colleagues put into the forum, and for organisation in supporting it.

Lynne Bull - Deputy Income Recovery Manager - Bron Afon Community Housing

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Get in touch

Joel Kordan

Partner
T: 03700 86 4100
I: +44 (0)121 625 4100
E: joel.kordan@shoosmiths.co.uk