Good Morning,
Long story, short - my BTL property had a 10 year doubling ground rent clause which has now been been amended to one which increases every 10 years by the RPI. The (possible) lesser of two evils. This is not the reason for this post however.
The lease term commenced on 1st January 2010 (although property not built until 2011), so I would expect the first increase will appear for for the period 1st January 2020 - 31st Dec 2020 - the 10th anniversary.
The demand for ground rent for this period (1st January 2020 - 31st Dec 2020) was delivered today, but there is no increase - it is still set at the original amount.
The freeholder's agent is quite well known on forums (I am not mentioning names, of course) and I would have thought they would be well practised in demanding increases on time.
Have I just made an error in the calculation of the lease's anniversary (does ground rent not start on the first day of the lease?) or have they made the error? If so I wonder if they can, at a later date, demand the increase they have omitted in the demand sent?
With thanks. Pete.
Long story, short - my BTL property had a 10 year doubling ground rent clause which has now been been amended to one which increases every 10 years by the RPI. The (possible) lesser of two evils. This is not the reason for this post however.
The lease term commenced on 1st January 2010 (although property not built until 2011), so I would expect the first increase will appear for for the period 1st January 2020 - 31st Dec 2020 - the 10th anniversary.
The demand for ground rent for this period (1st January 2020 - 31st Dec 2020) was delivered today, but there is no increase - it is still set at the original amount.
The freeholder's agent is quite well known on forums (I am not mentioning names, of course) and I would have thought they would be well practised in demanding increases on time.
Have I just made an error in the calculation of the lease's anniversary (does ground rent not start on the first day of the lease?) or have they made the error? If so I wonder if they can, at a later date, demand the increase they have omitted in the demand sent?
With thanks. Pete.
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