What consideration has the Welsh Government given to enacting legislation that would enable social landlords to establish a sinking fund/reserve fund to help leaseholders faced with bills for major works?
Answered by Cabinet Secretary for Communities and Children | Answered on 21/02/2017
To date no formal consideration has been given to this matter. The good practice guide developed by the Leasehold Advisory Service (LEASE) in 2016 on major repairs to buildings containing leasehold properties makes clear that establishing a sinking fund is one of the options which should be considered by landlords where the lease allows