Commonhold is an alternative system of property ownership to leasehold.
Each unit (flat) in a building is owned outright, including a share in the common areas. It provides ownership of land rights and control to the individual owners, as commonholders collectively manage and maintain the property through a Commonhold Association which appoints a professional managing agent.
It is widely used throughout the world, including in Australia, Canada, America, across Europe and Scotland for flats blocks, in mixed-use developments and on estates.
There is no separate freeholder landlord, no lease and no complex leasehold laws to comply with.
"Commonhold is by far the best way to genuinely own a flat. With a great Commonhold Association, comes a great community, one that all residents love to live in, owners love to own in and others want to buy into." A Commonhold owner
With a commonhold community, a properly functioning Commonhold Association and competent lay Directors, your community enjoys:
Happier owners and residents all round!
The Conservative Government have committed to reform and 'reinvigorate' Commonhold, which was first introduced in 2002 in the Commonhold and Leasehold Reform Act. The Labour Party have committed to end leasehold in their first term of office. Commonhold was originally proposed in a 1987 report by Law Commission Lord Trevor Aldridge, with the word having been coined in in 1978 by then Conservative MP for Kensington Sir Brandon Rhys-Williams.