The Government can enhance the Bill's scope and assist owners by legislating for 0% VAT on all remedial works, appoint an independent regulator for funded projects, protect short-hold tenants with a temporary rent compensation tariff and protect in law owners Rights To Manage during remedial works.
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Many leaseholders have received devastating 2022 demands. Changes to the Bill could assist. We believe VAT on remedial works is incoherent and circular, that a regulator is required to limit any excessive project costs, and that renters will endure disruption and this will burden the Housing Courts so a planned tariff of compensation is needed.
Unless addressed, works may never start, funds deplete, owners unable to sell/re-mortgage and tenants remain unsafe causing financial, mental health, housing, and lender crises.