Landlords are broadly optimistic that a shift to commonhold could lead to lower service charges and better-run blocks, according to new research from Landbay.

The lender found that almost half of those surveyed were hoping the system would result in cheaper charges, while just over a fifth were anticipating improved standards of maintenance that could support higher rents.

Smaller proportions saw benefits such as longer tenant retention or cited a range of other reasons for favouring a move away from leasehold.

In total, 91% of respondents said they expected commonhold to bring improvements of some kind, although a small minority saw no advantage.

Rob Stanton, sales and distribution director at Landbay, said: “It’s clear where landlord preferences lie: nine in 10 landlords believe commonhold could slash service charges and deliver blocks that actually stay in top shape.

“Nearly half are banking on lower bills, while one in five see better-maintained buildings unlocking higher rents and happier tenants.

“The government has lit the fuse; now landlords want them to deliver.”

The findings reflect long-standing frustration with the leasehold system. Previous polling by Landbay showed that almost two-thirds of landlords did not believe the government could deliver leasehold reform by the end of the current parliament.

A white paper published in March proposed a ban on the sale of new leasehold flats and pledged to “reinvigorate” commonhold with a revised legal framework. Ministers said at the time that they aimed to bring an end to what they described as an outdated “feudal system”, replacing it with arrangements closer to those used in other countries, where homeowners collectively own and manage their building.

Under the existing structure, freeholders retain ownership of a block and leaseholders buy the right to occupy individual flats for a set period, with control over building management often sitting at arm’s length.

However, Landbay’s research also points to notable reservations. Almost half of the landlords surveyed cited the risk of mismanagement by commonholders, and a similar proportion worried about the requirement for unanimity among leaseholders.

More than a quarter were concerned about the need for sufficient cash reserves, while just over a fifth said their properties were already well run by current freeholders.

The latest study captures the views of landlords collectively owning around 3,000 properties across England and Wales.