LandlordZONE

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Jul, 2014

Monday

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  1. Replies
    7
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    128

    What do the leases say? I would expect the...

    What do the leases say?

    I would expect the leaseholders to pay for everything required for the maintenance of the building and their safety within it.
  2. The freeholder will want as much as he thinks he...

    The freeholder will want as much as he thinks he can get away with!

    If you do it by free negotiation you will not be able to contain his desire for cash and he will also want to cover his legal...
  3. Replies
    4
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    141

    You could spend a lot of time and maybe...

    You could spend a lot of time and maybe surveyor's fees trying to get £15100 down to £13100.
    I suspect £2000 is a very small percentage of the value of the flat in Clapham so it may be better to...
  4. You may also need to prove Building Regulations...

    You may also need to prove Building Regulations compliance if you plan to sell the flats either individually or as a whole.
  5. Replies
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    696

    Too true! When I was selling my Mother's flat in...

    Too true!
    When I was selling my Mother's flat in which she had a share in the freehold owning company (annoyingly known as share of freehold by some!) the agent didn't understand what I was talking...
  6. Replies
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    696

    You have a statutory right to a 90 year lease...

    You have a statutory right to a 90 year lease extension at nil ground rent.

    Have a look at lease-advice.org which will tell you everything you need to know plus how to estimate the cost of the...
  7. Replies
    1
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    117

    Not bothering with Section 20?

    A couple of questions...

    1. Can a management company and its managing agent seek at AGM not to bother with the necessary Section 20 notices for major redecoration and refurbishments works because...
  8. Thanks for you replies. It's clearer now. The...

    Thanks for you replies. It's clearer now.

    The freehold completion has been delayed again, it's been a long and rocky road, so no urgency yet to get buildings insurance in place. Contents are...
  9. Presuming it is currently one dwelling, you will...

    Presuming it is currently one dwelling, you will need full planning permission before you convert the basement.

    You will also need to satisfy building regulations in particular with respect to...
  10. Do you have permission from the freeholder in the...

    Do you have permission from the freeholder in the first place to do works to his building?
  11. Landlord's insurance- how does it work when property is empty pending letting?

    We have moved from our previous home and plan to let it therefore we need to put Landlord's insurance in place.

    We don't yet have a tenant but the original insurance is up for renewal soon so it...
  12. Surely your 'premium' is actually being granted...

    Surely your 'premium' is actually being granted an extended lease, just like your fellow freeholder but he's paying all the legal costs. Those legal costs, paid by him, will be several hundreds or...
  13. Replies
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    312

    I suggest you get specialist enfranchisement...

    I suggest you get specialist enfranchisement legal advice ASAP as the counter notice is very important to your situation.

    There are several specialist legal firms, eg Brethertons, who have a good...
  14. Replies
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    225

    Not so. Enfranchisement of the freehold needs 50%...

    Not so. Enfranchisement of the freehold needs 50% of the flats in a building to participate. The freehold may include other blocks but these are not involved in the single block enfranchisement....
  15. Replies
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    1,546

    Owning a share in the freehold owning company is...

    Owning a share in the freehold owning company is only one part of taking control, you need to take over the management too by using the right to manage by invoking a Right to Manage Company (RMC)...
  16. If they want to sell and the lease is short they...

    If they want to sell and the lease is short they will have difficulty selling as any new mortgage company won't want to lend against a short lease. Presumably the freehold is actually held by a...
  17. Thread: Holiday Letting

    by Tipper
    Replies
    4
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    211

    Holiday letting may apparently generate an...

    Holiday letting may apparently generate an impressive income but typically you'll be lucky to get 40-60% net profit! Don't forget you're paying ALL the running costs and letting agent/website fees...
  18. Replies
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    Ask them to show you where in the lease it says...

    Ask them to show you where in the lease it says they need to approve your subletting and can charge you for it too.

    If it's not in the lease then you don't have to do it!
  19. Replies
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    236

    Without professional advice you are courting...

    Without professional advice you are courting disaster with this project. You need expertise to succeed.
  20. I can't offer any specific advice, sorry, but...

    I can't offer any specific advice, sorry, but it's typical of the council's right hand not knowing what the left hand is doing!

    We have a similar but different situation locally.

    PP was...
  21. Do you still have a lease? Who manages the...

    Do you still have a lease?

    Who manages the block?

    Who cleans the common spaces or ma intains the garden for example?
  22. You need to look at the lease to establish...

    You need to look at the lease to establish whether it is actually a house first!

    I'm not joking either, because if the wording of the lease is such that the structure and roof and foundations of...
  23. Replies
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    136

    The 'share of freehold' will actually be a share...

    The 'share of freehold' will actually be a share in the company that owns the freehold. It is correct that the flat itself is still leasehold.

    I think in most cases you can't keep the 'freehold...
  24. Replies
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    410

    You need to find out what the manuafacturerr of...

    You need to find out what the manuafacturerr of the boiler demands by way of ventilation requirements before you go boxing the boiler into a cupboard to reduce noise. Some room sealed boilers don't...
  25. Replies
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    544

    Is a lodger a second household? I thought the...

    Is a lodger a second household?

    I thought the lodger was effectively living within your one family unit in your one flat. If however you owned the whole building and took in 5 or more lodgers then...
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