What is "collective enfranchisement"?

Collective enfranchisement refers to the process that allows tenants of a property, usually in a leasehold arrangement, to come together and collectively purchase the freehold of their property from the landlord. This process empowers tenants by enabling them to gain ownership rights, rather than remaining dependent on the terms of a long-term lease. The significance of collective enfranchisement lies in its ability to strengthen tenant control over their living environment, providing them with more security in their housing situation, and often enabling improvements to property management and maintenance.

By effectively transforming leaseholders into freeholders, collective enfranchisement not only enhances tenants' rights but also often leads to a more collaborative environment regarding property management and development. This is particularly beneficial in maintaining the condition of the property and making collective decisions about shared spaces and amenities.