Commonhold and Leasehold Reform Act (2002)
March 2005
Representatives from the leading names in property met at the ECS London offices on the 24th Feb 2005 to discuss the implications of the Commonhold and Leasehold Reform Act (2002). Attendees also included independent consultants invited to provide impartial advice regarding the legislation.
The Act has some important implications for property managers, which could result in the largest shake-up in leasehold management for some time, especially where it concerns such issues as service charges and long leaseholds.
With the widespread use of the ECS Software to manage these tasks within the industry, ECS users were interested to see how the system operates within the new legislation.
The meeting covered two areas. Firstly, presentations to demonstrate how the system meets the requirements of the legislation already in place. The second part of the meeting covered interpreting proposed legislation and the resulting impact on customer needs.
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