Little in common
Language: English Series: Property Week ; 70(43) 28 October 2005, 68-69(2)Publication details: 2005Subject(s): Summary: Seeks to explain why UK property developers have failed to take advantage of the new commonhold legislation. This is in spite of the fact that building properties under the Commonhold and Leasehold Reform Act 2004, would free them from the responsibility of maintaining them once they are sold. Each unit holder is obligated to join a commonhold association, and thus take responsibility for building maintenance themselves. This scheme has been operating in Australia for 40 years and has proved to be very successful, but only five developments have been built since its introduction in the UK last year.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L31591 (Browse shelf(Opens below)) | 1 | Available | 131591-1001 |
Seeks to explain why UK property developers have failed to take advantage of the new commonhold legislation. This is in spite of the fact that building properties under the Commonhold and Leasehold Reform Act 2004, would free them from the responsibility of maintaining them once they are sold. Each unit holder is obligated to join a commonhold association, and thus take responsibility for building maintenance themselves. This scheme has been operating in Australia for 40 years and has proved to be very successful, but only five developments have been built since its introduction in the UK last year.