Ground Rents Income Fund (GB:GRIO) has released an update.
Ground Rents Income Fund PLC has acknowledged the recent enactment of the Leasehold and Freehold Reform Act 2024, which is the latest development in the UK’s ongoing residential leasehold reform. The new legislation, which awaits further secondary legislation to be brought into force, aims to make it easier and cheaper for leaseholders to manage and own their properties, while also enhancing transparency in service charges. Despite the uncertainties regarding the implementation and future reforms, the company is strategizing to navigate the changes and continues to advocate for balanced leasehold reforms.
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