A new lease of life: - CentreForum

A New Lease of Life::7 – ConclusionThe evidence in this paper supports the overwhelming view ofthose working in the leasehold sector that regulation of managingagents is urgently needed. By introducing an independent regulator,the government could lever the interests of leaseholders into themanagement process and ensure that they all have greater accessto redress. In the longer term, direct leasehold empowermentshould be promoted through commonhold and RTM.The case studies included in this report show just how serious theshortcomings of the current leasehold system can be. In many ways,these are just the tip of the iceberg because the most vulnerableleaseholders often cannot even get a case to a tribunal. Moreover,in many of the most serious cases, freeholders settle outside theLVT in an effort to avoid negative publicity.It is essential that the government addresses this problem.Cases taken to LVTs have increased by 400 per cent in the pastdecade, and problems with connected companies have becomeincreasingly rife. Moreover, the number of leasehold propertieswill increase significantly in the coming years, precisely because ofother government policies – both the right-to-buy and the housingstrategy to increase the supply of homes. The government musttherefore seek to integrate policy so that reform of the leaseholdsystem and promotion of commonhold and RTM are pursuedalongside the development of new houses.68