Looking ahead, we expect 2025 to be another year dominated by the need to help clients ensure compliance with the Building Safety Act.
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As we look back at 2024, it has proven to be another eventful year for the property management sector.
We now have more of an idea of the timelines for the implementation of the Leasehold and Freehold Reform Act (‘LFRA’).
Following the rushed Royal Assent of the Leasehold and Freehold Reform Act 2024, further controversy has arisen.
Here we will be recapping how the new landscape has shaped the insurance market, covering the Building Safety Act, EWS1 forms, fire safety and remediation works, as well as the effects of the “Golden Thread”.
Rising premiums have affected many, particularly those living in residential blocks with unresolved safety concerns.
Rising premiums, limited options for coverage, and complex regulations all create obstacles for property owners and leaseholders.
The Leasehold Reform Act 2022 came into force in June 2022 and has been pivotal, setting the stage for a broader shift in leasehold rights and policies.
The Leasehold and Freehold Reform Act, which became law on 24 May 2024, is a long-awaited piece of legislation designed to make it easier and cheaper for leaseholders to extend their lease or purchase the freehold of their building.
If you’re involved with a RMC or RTM company, there will come a time when major lift works are necessary to avoid significant breakdowns…