Post-Enfranchisement: Key Issues to Address

After enfranchisement, there are four key issues to manage: extending leases, releasing asset value, distributing proceeds, and reviewing service contracts.

Extending Leases to 999 Years

One of the primary steps post-enfranchisement is extending leases, often to a 999-year term, ensuring long-term security for leaseholders.

Releasing Asset Value: What Are Your Options?

There are several methods to release asset value, including selling parts of the title (e.g., lofts, porters’ flats) or selling shares in the Freehold Company to flats that initially did not participate in enfranchisement.

Distribution of Proceeds: How to Divide the Funds

The next challenge is the fair distribution of any proceeds raised from asset sales or share transfers among the involved parties.

Reviewing Contracts with Service Providers

Ensuring that contracts with managing agents, cleaners, gardeners, porters, and other service providers are aligned with new ownership structures and updated responsibilities is critical.

How Ringley Can Help: Expert Support for Leaseholders

Ringley offers a unique service combining valuers and lawyers to guide you through enfranchisement, lease extensions, and other post-enfranchisement tasks, all on a fixed-fee basis.