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The End of Leasehold Flats? A Breakdown of the Draft Commonhold and Leasehold Bill
Úna Campbell
The Leasehold and Freehold Reform Act (“the Act”) became law on 24 May 2024. The Act aims to enhance the rights and benefits for homeowners in England. There is, however, debate as to potency of the Act given the absence of the proposed ground rent cap (which had been discussed for some time) and the failure to ban forfeiture of long residential leases.
As of February 2024, the Biodiversity Net Gain has been introduced to major developments and was also rolled out to include small developments in April 2024. Developers will have to not only preserve but also enhance the biodiversity of their developments by 10% above the pre-development levels, tools such as biodiversity units and credits can help developers achieve this.
As the 1954 Landlord & Tenant Act celebrates a milestone birthday, recent case law demonstrating the strength of Tenants’ security of tenure, has renewed calls to modernise the aging legislation.
Tax experts could have been forgiven for taking a sharp intake of breath when chancellor Jeremy Hunt announced that multiple dwellings relief (MDR), a staple of the residential stamp duty land tax (SDLT) world, was to be abolished.
The Immigration Act 2014 governs the ‘Right to Rent’ across the private sector in England. All landlords have a responsibility to verify the immigration status of prospective tenants. Failure to comply with the Right to Rent regulations can result in severe civil penalties imposed on landlords who are found to have tenants residing in their properties without the legal right to rent.
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