Lease extension guide for leaseholders
If you’re thinking of buying a leasehold flat or already own one, this lease extension guide is an ideal read for you. Understanding lease extensions and your legal rights will enable you to make informed decisions regarding your property and ultimately help you to save thousands of pounds. What is a lease extension? Put simply, […]
What you need to know about buying a freehold with leasehold properties
If you’re thinking about buying a freehold with leasehold properties, there’s a lot you need to take into consideration. Owning this type of freehold property isn’t like traditional freehold home ownership, as you will have a range of responsibilities toward a number of leasehold properties and leaseholders. What’s the difference between freehold and leasehold? If […]
What is peppercorn ground rent?
The Oxford dictionary defines peppercorn rent as “a very low or nominal rent”[i]. But just how low is low? And why is it called peppercorn rent anyway? To understand, we first need to know the difference between leasehold and freehold and explore what ground rent is and why it exists. Homes in England and Wales […]
Selling ground rents – A simple guide for developers
Whenever flats are built, whether that be in a purpose-built block or through a house conversion, there will be an opportunity for developers to create and sell ground rents in addition to the properties themselves. This is because current property law requires flats throughout England and Wales to be leasehold. And as leasehold is a […]
What happens when you do not comply with the Right of First Refusal?
The Right of First Refusal in residential property matters provides leaseholders with the contractual right to be offered the opportunity to purchase the freehold of their building. This right is provided by Part 1 of the Landlord and Tenant Act 1987, as amended by the Housing Act 1996. As such, there is a legal requirement […]
Price of flats falling in England
According to government statistics, the price of flats has fallen in England since last year. While this could be seen as an ideal opportunity for first-time buyers to get onto the property ladder, it presents a bleaker outlook for flat owners looking to sell their properties. Conversely, all other property types in England including detached, […]
How much should ground rent be?
An update on leasehold reform The way that ground rent is calculated, reviewed and collected has changed dramatically over the last 100 years. What was once a sum to bind a contract between a freeholder and a leaseholder has now become an investment opportunity for those seeking an assured, fixed return. Unfortunately, purchasing and owning […]
8 Tips for Selling Freehold Ground Rents
Selling freehold ground rents can be a daunting task but with the many arduous responsibilities that come with owning a freehold, it’s no wonder that many freeholders decide to sell. Perhaps you’re fed up with the constant management of a freehold, tired of chasing ground rent payments or are unable to commit the time required […]
Tenant not paying ground rent? Here are five things you can do
As a freeholder, one of the most challenging and frustrating tasks that we can face is dealing with difficult tenants. From disturbing neighbours to illegal alterations and subletting without permission, tenants can test the patience of even the most easy-going landlord. Unfortunately, it’s also very common for tenants to avoid paying their ground rent. This […]
How to Successfully Organise Maintenance & Major Works
Maintenance and repair work are an inevitability when it comes to property. Without these works, our buildings would deteriorate, diminish in value and could potentially become hazardous. Not to mention the fact that if you fail to carry out certain works as the freeholder, you will likely be in breach of the terms of the […]
New for Freeholders: Free Notice Templates & Services
Freehold Sale is now offering a range of Notice solutions to freeholders who require support with Sections 3, 20 and 166 of the Landlord and Tenant Act. With free notice templates and low-cost, professional services, freeholders can comply with their legal obligations more easily. These new solutions complement our existing Right of First Refusal Section […]
A Landlord’s Guide to Right to Manage
If you’re the landlord of a property that contains two or more flats, where your tenants have long leases, you need to be aware of Right to Manage. What is Right to Manage? Right to Manage is a statutory right that features in the Commonhold and Leasehold Reform Act 2002. It enables leaseholders to transfer […]
