Shared ownership and fair rents

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Shared ownership and fair rents

    My parents own 50% of their bungalow on a shared ownership from 1983. What type of tenancy do they have? It's for 125 years. The landlord is a Housing Association.

    Does it work the same as a normal long lease where as I understand it the lease dictates the terms of the tenancy?

    They haven't a clue where their lease is atm.

    The main issue for the moment is that they have just had a fair rent assessment by the VOA rent officer but they think it has increased significantly more than it usually does. So trying to work out whether it is worth appealing it. Strangely the rent assessment form gives a rent figure that is more than half of the figure under gross rent. Any clues?

    #2
    They have a long lease, but some of the the things that people associate with long leases are actually triggered by low rents, not long leases. Also shared ownership is only possible with housing associations. As such, it is rather a specialised area and I'd be surprised if anyone here actually really knew their way around the law in this area. They would probably need to be a shared ownership tenant or work for a housing association, to know.

    To the extent that the lease is not silent, I would expect them to be able to rely on the lease.

    The same land registration rules apply to shared ownership leases as to any long lease, so, unless the lease is very old, they can buy a copy from the Land Registry (make sure they use the gov.uk site, not one of the parasites that charges way over the odds).

    (I have a feeling that, any private landlord attempting to create the equivalent of shared ownership would actually create an AST, because of the high rent.)

    Comment


      #3
      I suggest you contact the VOA Office and ask for explanation why the rent figure is more than half gross rent figure.?

      Have you checked with any local letting agent on what the current market rent figure is ?

      Comment


        #4
        Originally posted by KeepTheFaith View Post
        My parents own 50% of their bungalow on a shared ownership from 1983. What type of tenancy do they have? It's for 125 years.............
        Regulated "Rent Act" tenancy almost certainly. Either see what their paperwork says or get them to write to landlord requesting copy of tenancy agreement...
        ....The main issue for the moment is that they have just had a fair rent assessment by the VOA rent officer but they think it has increased significantly more than it usually does. So trying to work out whether it is worth appealing it. Strangely the rent assessment form gives a rent figure that is more than half of the figure under gross rent. Any clues?
        VOA for rent usualy only for rent act tenancies. See what paperwork says about appealing

        I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

        Comment


          #5
          Thanks for your replies. I had thought it was a regulated tenancy also due to there being a registered fair rent. But the landlord is Housing Association so think that discounts that. Then I thought secure tenancy due to L being HA but I think the 125 year lease discounts that.

          I will try and get copy lease from land registry and contact VOA thanks.

          ​​

          Comment


            #6
            Oops! Sorry, I may well be wrong. VOA and HA can supply info. Establish facts 1st, from them.
            I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

            Comment

            Latest Activity

            Collapse

            Working...
            X