Why apartment ownership is about to become less stressful: Matthew Newton

For many years, leasehold property ownership has come with its fair share of challenges. Leaseholders have often faced rising ground rents, steep administrative fees from freeholders, and service charges that seemed to climb without reason.

Even simple actions, like requesting permission for renovations, could trigger costly fees, while selling a leasehold property sometimes meant facing unexpected charges. These outdated leasehold arrangements have caused financial strain, anxiety, and in some cases, left owners with properties that are difficult to sell.

Developers and large-scale investors have historically treated apartment freeholds as sellable assets and reliable income sources for investors, leaving leaseholders to bear the financial burden of rising fees. Understandably, these concerns have made many wary of considering apartment living as a long-term option.

However, recent reforms are offering much-needed relief. The Leasehold and Freehold Reform Act, which gained Royal Assent earlier this year, is set to overhaul leasehold rules to make ownership fairer, more transparent, and easier to navigate.

While these changes will be introduced very gradually, some forward-thinking developers are already embracing the reforms by introducing innovative ownership models.

Take Beverley Court in York, for example, a development on Shipton Road, overlooking Homestead Park, in York that that we are currently building.

This new development of 21 spacious apartments offers each homeowner a share of the freehold, eliminating the headaches of traditional leasehold arrangements and third-party Freehold owners.

With no ground rents and no hidden fees, this model gives buyers greater control over their property, along with the peace of mind that comes from transparent and predictable costs.

In addition, a professional managing agent handles building maintenance and communal upkeep, ensuring beautifully maintained grounds and a hassle-free experience for residents.

Once the complexities of ownership are clarified, the many benefits of apartment living come into focus.

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These include: Lower living costs due to energy efficient modern apartments, stress-free maintenance, enhanced security and technology, improved wellbeing due to a simpler, less cluttered lifestyle, accessibility and comfort.

Moving to an apartment isn’t about giving up independence—it’s about embracing freedom.

With modern ownership models eliminating outdated leasehold challenges, the transition to apartment living offers a chance to enhance your quality of life.

Imagine a home that’s easier to maintain, energy-efficient, and designed with your future comfort in mind. It’s not just a change of address; it’s an opportunity to simplify, enjoy greater financial predictability, and focus on what truly matter – living well.

Matthew Newton is a director of Inglehurst Property