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you could replace my examples with..
Companies don't buy freeholds unless there is good profit to be made. This will mean finding ways to charge us more, I encourage you to do some research on these freehold management companies. They make money by over charging on insurances and applying excessive fees for admin etc. e.g. https://www.leaseholdknowledge.com/?s=pier+management
We have the ability to add value to our homes and reduce our costs going forward.
How do I know the price is a good price?
As part of out due diligence we will obtain independent advice
Will it add value to my home?
Once under resident control, we have the ability to extend our leases on favourable terms. This will be substantially less than a 3rd party will want to charge. Flats with share of freehold are normally more desirable than those who are controlled by 3rd parties.
Will I save money in the long term?
As freeholders we have the ability to scrutinise costs and ensure that we obtain value for money. Building insurance under 3rd party control is likely to increase by 50-100%.
What happens if we ignore the offer?
The freehold will be sold to someone else and they will likely want a return on the investment. In the future if we want to force a sale back to us we will have to collectively enfranchise the freehold, which is a more costly and difficult process.
of course you do have to consider the Labour government has promised leaseholder reform, which could impact the value of the freehold. You may want to research what they are promising and decide if they will deliver it or not.
Companies don't buy freeholds unless there is good profit to be made. This will mean finding ways to charge us more, I encourage you to do some research on these freehold management companies. They make money by over charging on insurances and applying excessive fees for admin etc. e.g. https://www.leaseholdknowledge.com/?s=pier+management
We have the ability to add value to our homes and reduce our costs going forward.
How do I know the price is a good price?
As part of out due diligence we will obtain independent advice
Will it add value to my home?
Once under resident control, we have the ability to extend our leases on favourable terms. This will be substantially less than a 3rd party will want to charge. Flats with share of freehold are normally more desirable than those who are controlled by 3rd parties.
Will I save money in the long term?
As freeholders we have the ability to scrutinise costs and ensure that we obtain value for money. Building insurance under 3rd party control is likely to increase by 50-100%.
What happens if we ignore the offer?
The freehold will be sold to someone else and they will likely want a return on the investment. In the future if we want to force a sale back to us we will have to collectively enfranchise the freehold, which is a more costly and difficult process.
of course you do have to consider the Labour government has promised leaseholder reform, which could impact the value of the freehold. You may want to research what they are promising and decide if they will deliver it or not.
