Building Safety Act 2022 leaseholder protections
The leaseholder protections in the Building Safety Act 2022 came into force on 28th June. This means qualifying leaseholders in England can no longer be charged for cladding remediation, and there are legal protections in place for non-cladding costs.
Qualifying leaseholders can only be asked to share capped non-cladding costs in certain circumstances and there will be clear transparency and financial reporting requirements for building owners. Further detail on how costs are to be divided between the freeholder and any landlords will be set out in regulations. Parliament is deciding on these during July.
DLUHC has produced a frequently asked questions document to help qualifying leaseholders and recently updated the ‘How to lease’ guide for current and prospective leaseholders, which sets out the differences between leasehold and freehold property and the rights, obligations and implications of being a leaseholder.
Guidance:
https://www.gov.uk/guidance/building-safety-act-2022-leaseholder-protections-what-to-do
https://www.gov.uk/government/publications/how-to-lease
Frequently asked questions:
https://www.gov.uk/guidance/leaseholder-protections-on-building-safety-costs-in-england-frequently-asked-questions
Correspondence:
https://www.gov.uk/government/publications/leaseholder-protections-letter-to-building-owners
