The Leasehold and Freehold Reform Act became law on 24 May 2024. This represents one of the most significant overhauls of property law in a generation. Aimed at improving transparency and fairness for leaseholders in England and Wales, the Act introduces changes that could have wide-reaching implications for property developers and investors alike.
While the Act has now passed, secondary legislation is still required to implement its provisions fully. These details, including critical guidance on valuations and enfranchisement procedures, will depend on the priorities of the post-election government. As such, leaseholders are strongly advised to remain alert to ongoing developments and to seek specialist advice before making any major decisions.
What’s Changing?
The legislation brings forward a series of landmark reforms, including:
These changes are designed to empower leaseholders, offering more control over their properties and greater clarity in dealings with freeholders.
The Importance of Professional Advice
Despite the promising nature of these reforms, leasehold valuation remains a highly specialist area. The Royal Institution of Chartered Surveyors (RICS) advises all leaseholders to consult with RICS-regulated professionals before proceeding with lease extensions, enfranchisement, or any related decisions. At John Burke Associates, our Chartered Surveying and Chartered Building Consultancy divisions offer the depth of knowledge required to navigate these complexities.
We work across private, public, and commercial sectors, ensuring that each client benefits from tailored, cost-effective strategies. Our team combines innovation, sustainability, and deep market understanding to deliver exceptional outcomes that exceed expectations.
Why Choose John Burke Associates?
As a RICS-approved firm, we pride ourselves on our integrity, independence, and client-first ethos. With extensive experience in leasehold valuation, we are ideally placed to support leaseholders throughout this period of legislative transition. Don’t navigate these changes alone. Contact John Burke Associates today for expert advice that protects your interests and unlocks the full potential of your next project.