Will the move to commonhold reduce service charges?
While there is a general assumption that by having a direct say in costs, tenants will be able to bring service charges under control, this is unlikely to be the case based upon current data. Buildings inevitably age, regardless of the ownership structure—commonhold doesn't prevent lifts from breaking down. The question then is whether third-party landlords impose unnecessarily high service charges on leaseholders.
To investigate this, TPI analysed data from 250,000 leaseholders in blocks of 10 or more flats, comparing those with a third-party landlord to those with owner/occupier management groups like RMCs/RTMs. The findings showed little difference in cost between the two structures. Third-party landlord costs were marginally lower at £2,140 per year, compared to RMC/RTM costs of £2,190 per year. In essence, while commonhold may not necessarily lower service charges, it could provide greater transparency regarding how these charges are determined, although recent proposals in leasehold to legislate for a standard chart of accounts for service charges would provide the same.
Who will run the commonhold?
The Government's own research showed that most flat owners are not interested in spending their free time managing their block, and those that are wish to do so solely to reduce their service charges (but see above). Buy-to-let investors, which in urban areas quite often form the majority of the flat owners in a block, are typically even less interested than owner/occupiers. This raises the question of where directors will come from, especially given the potential for imprisonment under the Building Safety Act. Without directors, the company would collapse under Company Law.
A common suggestion is to appoint external directors to run the block on the residents behalf. But unless the residents take an active role this rather contradicts the core arguments for commonhold in the first place and will likely prove expensive.
Commonhold community statement (CCS)
The Commonhold Community Statement (CCS) is the foundational document for commonhold properties, outlining the rules for their use and management. It mandates financial contributions from unit-holders for building upkeep and enforces restrictions and obligations regarding the use of individual units and common areas.
What does the CCS do?
The CCS is a legally binding document that outlines the rights and responsibilities of unit-holders, tenants, and the commonhold association. Its format and most of its content are prescribed by Commonhold regulations, with certain requirements that must be included in every CCS. The CCS defines the units and common parts of a commonhold by referencing a building plan. It also outlines the financial obligations of each unit-holder, specifying the percentage of both the overall running costs and any separate reserve fund charges they must pay. Additionally, the CCS assigns voting rights to each unit-holder and establishes the operational rules for the commonhold.
While a commonhold association can add extra conditions relevant to the individual commonhold, these must not amend or delete any prescribed conditions. Any additional conditions must be clearly headed with "additional conditions specific to this commonhold" and placed at the end of the relevant section or part of the CCS.
The CCS, along with the title documents for the commonhold, must be registered at the Land Registry to be effective. This registration ensures that all current and potential unit-holders have full access to the document. Similar to a lease in a leasehold property, owning a commonhold unit establishes rights, obligations, and responsibilities detailed within the CCS. However, unlike leasehold properties, a commonhold has no separate leases for individual flats; the CCS is a single document applicable to all units within the commonhold.
Who pays to convert a block to commonhold?
Acquiring a commonhold isn't free as it requires buying the freehold. Leaseholders may be compelled to pay, whether they wish to or not, to convert to commonhold.
How is a commonhold property managed?
When a property, such as a flat, is bought in a commonhold, the buyer becomes a ‘unit owner’. All unit owners are entitled to become members of the commonhold association, which owns and manages the common parts of the building or estate. These include the external and structural elements of a building, plus shared areas like roofs, lifts, and external walls.
The commonhold association has at least two directors, which can be unit owners or external professionals. They decide how much money unit owners will need to contribute to cover the costs of repairing and maintaining the commonhold. As well as this, the directors can decide to manage the building themselves or appoint a managing agent to do this on their behalf.
Unit owners can participate in the commonhold association and vote on decisions such as whether to make building improvements or who to appoint as a director.
The commonhold association must have “articles of association” which govern how it operates. These articles, along with the CCS, define how the association is run and the obligations of both the association and unit holders. The articles are prescribed by the Commonhold Regulations 2004 and must comply with the Companies Act 2006.
The CCS sets out the rights and obligations of a unit owner. While there is some flexibility to change these rules and update them over time, they are generally standardised across commonhold properties.
Managing the finances and operations of larger residential blocks, especially those with complex structures like commercial offices, shops, or multiple buildings, presents a bigger challenge. The proposed solution of "sections"—discreet parts carved out of the commonhold—aims to address this by legally facilitating fractional living, ensuring everyone has a say in their specific costs.
However, each section will require its own budget, decided by a vote. This means managing agents, who previously dealt with a single landlord or Right to Manage (RTM) company, will see their administrative workload multiply, leading to a commensurate increase in costs.
How can it be ensured buildings are being maintained well?
The Government aims to improve residential building standards, focusing on aspects like safety and environmental efficiency. However, many blocks, especially in major cities, are predominantly composed of buy-to-let flats. A significant number of leaseholders, particularly buy-to-let landlords, prioritise short-term returns on investment. The introduction of commonhold-type structures in Scotland and Australia has been linked to a notable decline in building maintenance.
What is a commonhold association?
The commonhold association has at least two directors, which can be unit owners or external professionals. They decide how much money unit owners will need to contribute to cover the costs of repairing and maintaining the commonhold. As well as this, the directors can decide to manage the building or appoint a managing agent to do this on their behalf.
How are disputes resolved in commonhold properties?
If a dispute arises between unit owners, or between a unit owner and the commonhold association, parties must follow the commonhold dispute resolution procedure for commonhold. This is set out in the CCS and should occur before taking any legal action. Doing this encourages parties to engage in communication to resolve disputes rather than going straight to court, hopefully reducing the need for the latter.
However, if it is an emergency situation such as the unit owner failing to make a payment, the dispute resolution procedure does not need to be implemented. Instead, the commonhold association can take direct action, which may include contacting the unit owner, issuing notices, and potentially pursuing legal action, including a forced sale, to recover the outstanding payment.
Final thoughts
As the legal landscape continues to evolve, commonhold is being set to become the standard for new multi-occupancy buildings in England and Wales. This transition promises to engage owners far more in the day to day running of their blocks.
Fixflo can help! Book your no-obligation quote today.