The housing market for older people is one of the fastest growing sub-sectors of healthcare real estate, but remains a tiny proportion of overall housing provision.
There is a generational opportunity to change the make-up of the market over the next decade to better meet the needs of a population which is living longer and has changing wellbeing needs and lifestyle expectations, while also reducing demand on already strained health and care services. As lawyers with a genuine enthusiasm for this sector and the difference it can make, we are delighted to have been involved with our longstanding strategic partners Associated Retirement Community Operators (ARCO) in its work on Leasehold Plus.
The Leasehold Plus model would:
- Extend the reach of consumer protection so that – uniquely in the UK property sector - every sale of a unit in an Integrated Retirement Community scheme is subject to full protection under consumer law
- Improve dispute resolution mechanisms, including extending the remit of Ombudsmen
- Include flexibility to tailor leases, enabling them to be kept up to date and respond to changing customer preferences.
For more information on ARCO click here.