The guide aims to help conveyancing firms, property owners, and other stakeholders understand and navigate the significant changes introduced by the new legislation.

It provides a detailed overview of the four critical points of the Act that will take effect this month, addressing essential updates to the Building Safety Act 2022 and regulations concerning rent charges.

Key sections covered by the guide include:

Regulation of remedies for rentcharge arrears:

Notice requirement: details on the formal notice process required before seeking payment for arrears.

Proof of ownership: requirements for including proof of the rent owner’s title and the document establishing the rentcharge.

Service: guidelines on the proper methods of serving notices.

Fees: information on the Secretary of State’s authority to limit fees related to arrears recovery actions.

Recovery Methods: potential restrictions on recovery methods for regulated rentcharges created before 1977.

Recovery of legal costs through service charge.

Repeal of Section 125 of the Building Safety Act 2022. Impact: explanation of the implications for landlords, leaseholders, and building safety defect remediation.

Notification Requirement: new obligations for insolvency practitioners to inform local authorities and fire and rescue services about insolvencies involving responsible persons for high-risk or relevant buildings.

CA’s director of delivery Beth Rudolf commented: “The Leasehold and Freehold Reform Act 2024 introduces critical changes that will significantly impact the conveyancing process. Our new guide is designed to provide firms with the necessary information to understand these changes and integrate them into their practices effectively.

She added: “By familiarising themselves with the new requirements, conveyancing firms can ensure compliance and better serve their clients in managing leasehold and freehold properties.”