Commentary

12.3 Shared power and responsibility

COMMONHOLD vol 8(1)
COMMONHOLD vol 8(1) | Commentary

12.3 Shared power and responsibility

COMMONHOLD vol 8(1) | Commentary

12.3 Shared power and responsibility

The owners of the commonhold units are together responsible for the operation of the commonhold1. This responsibility is exercised through the commonhold association, and the degree of involvement of individual owners will no doubt vary. Indeed, the operation of the commonhold can perfectly well be contracted out to a managing agent.

This characteristic means that commonhold is not suitable where a developer wishes to retain a property interest in order to receive ongoing rent from his development or to provide ongoing services. The value of an ongoing rental stream can, no doubt, be included in the

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