With all that is happening regarding people’s predicament on the leasehold scandal, there are some who think that leaseholds are outdated and should be abolished altogether. Most countries already found alternatives for real-estate dealings and transfer of property ownership that are on friendlier terms. Some people think that abolishment of this system will cause more problems.
Considering all points of view, you have to wonder about the future of leasehold in the years to come. Here are some of the projections there are:1. Leaseholds will remain but with reformed terms.
This is one of the more hopeful demands from lessees since the resurfacing of leasehold issues regarding rates. There have been specific terms that people are lobbying to be changed and if they are lucky, they may just get what they want.2. Legislation will make more laws to protect buyers and owners equally.
This is a more ideal scenario but will probably take longer time to realize. In terms of having both parties benefit from a single law, it can be very tricky. There will have to be discussions of what to do with different circumstances revolving around real-estate in general, to the specific issues in the leasehold scandal.3. Leaseholds will no longer exist and give rise to a new property ownership scheme.
While some believe that the idea of leasehold can be salvaged, there are some who think that this concept belong in the past. If this holds, the future may no longer see leaseholds but a newer and more contemporary version of it. This does not say anything, however, about the existing leasehold agreements that still have decades to go in their contracts.
Since leaseholds have become an option for property ownership, it has stand years worth of time. With the problems that are persistent about rates of fees and rights of parties involved, the future can go either way.