As the name suggests, collective enfranchisement is also known as the right to enfranchise to a group of people or business. A group of people collectively takes the lease for the building or flats in London, and then it is called as collective enfranchisement. The process of leasehold enfranchisement or collective enfranchisement is quite complicated and this is the reason why most of the people prefer to take the help of lease claim or extension companies. There are many companies which can provide you with the services of collective enfranchisement in London. It is seen that most of the tenants who are involved in leasehold enfranchisement usually set up a company that manages the acquisition of the freehold and also ensures that all the responsibilities of the landlord are also fulfilled at the same time.
Reasons to consider collective enfranchisement
There are many reasons why tenant should consider collective enfranchisement. One the most important reasons is that the value of the property decreases with the time period of the lease. Decrease in rate of the property is not beneficial for anyone so in order to keep the value of their property high, most of the tenants prefer to extend their lease up to several years to lock the price of the flat or building that they acquired. Another reason to come up with enfranchisement is to benefit them from any kind of maintenance services that is required. It is the best way to take over the management of the building and get better deals with the maintenance services that are required.
Guest post by leaseextend.co.uk