- You are no longer dependent on a landlord, so you can manage the property yourselves or appoint your own managing agents.
- You will have protected your flat from loss of value as a result of the declining lease term.
- You can grant yourselves new long leases without paying a premium and you will no longer have to pay ground rent.
- A property is more marketable when sold with “a share of freehold”.
Although there are exceptions, the majority of blocks of flats including houses converted into flats are capable of being acquired under the legislation (the Leasehold Reform Housing and Urban Development Act 1993 as amended by the Commonhold and Leasehold Reform Act 2002).