What is the future of home ownership in the Integrated Retirement Community sector? ‘Leasehold Plus’ represents a bold, but practical, vision for further enhancing consumer protection and increasing flexibility for residents.
Developed by ARCO with legal support from ARCO Strategic Partner Trowers & Hamlins, the Leasehold Plus model would:
- Extend the reach of consumer protection so that – uniquely in the UK property sector - every sale of a unit in an Integrated Retirement Community is subject to full protection under consumer law.
- Improve dispute resolution mechanisms, including extending the remit of Ombudsmen.
- Include flexibility to tailor leases, enabling them to be kept up to date and respond to changing customer preferences.
Implementing Leasehold Plus would not cost the government anything, and ARCO believes it should be adopted into law immediately.
The detail of Leasehold Plus is set out in a discussion paper which can be downloaded below.
We are very grateful to Trowers & Hamlins, our Strategic Partner, for co-authoring this report with ARCO, as well as the ARCO Members who made this project possible.
Alongside this report, ARCO has produced an accessible policy briefing on Leasehold Plus, as well as a one-page fact sheet which can be downloaded below.
If you would like to know more about Leasehold Plus or to discuss it with the ARCO team, email us here.