What does "joint management" refer to in leasehold properties?

"Joint management" in leasehold properties refers to the collaborative effort between leaseholders and landlords in the management of the property. This approach fosters a partnership where both parties have a voice and share responsibilities in decision-making processes related to property upkeep, maintenance, and improvements.

This collaboration is essential for ensuring that the needs and concerns of residents are considered alongside the landlord's objectives and investment interests. It typically results in a more harmonious living environment and can improve communication and satisfaction among all stakeholders involved. The essence of joint management lies in shared governance, enabling both leaseholders and landlords to work together towards the common goal of maintaining and enhancing the property for the benefit of all parties.

In contrast, other options do not accurately reflect the nature of joint management. For instance, a scenario where only landlords control property management would undermine the involvement and rights of leaseholders. Similarly, management solely by leaseholders without landlord input would lead to a disconnect and possible conflicts of interest. Relying exclusively on professionals for management does not incorporate the valuable perspectives and engagement of leaseholders, which is a core principle of joint management.