Purchasing more shares
The process of purchasing more shares in your property is called staircasing, this can be up to 100% outright ownership.
As you buy more shares in your property, the rent you pay will decrease. If you reach 100% ownership, you will no longer be required to pay rent.
You can staircase any time, however once the staircasing process has begun it must complete within 3 months of the valuation date. If the process takes longer, you will be required to provide an updated valuation.
The minimum purchase is 10% additional shares in the property, up to 100% ownership. It is recommended that you staircase a maximum of 3 times to achieve full ownership, as the administration and valuation fees will be due for each staircasing process.