LPE1 Advice and Guidance

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    LPE1 Advice and Guidance

    Hi guys,

    I would really appreciate any advice on how to best complete an LPE1. I am the 'landlord', however, I have never had anything to do with the property - the property was transferred into my name in 2013 by my father of whom I have very little contact with now. I can answer some of the questions (mostly those with the N/A option) - however not all of them. I am concerned about the potential implications of answering the inquiries incorrectly which could leave me exposed. I ideally want to get this form completed so that the current leaseholders can sell the property. Any advice would be hugely appreciated.

    Many thanks in advance,

    Billy

    #2
    Your risk is not so much getting the form wrong as that you don''t know the information about the property that you should know. That means mean may be breaching the lease, failing to collect service charges, committing health and safety offences, failing to insure etc.

    You should either be able to answer every question, or refer to someone (probably a managing agent) who can.

    If you really can't answer, don't guess; say you don't know. That may make the sale more difficult, but is the only honest option.

    The buyer still has the option of accepting an incomplete (or even missing) LPE1.

    Is this a house, or a block of flats?

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      #3
      Thank you for all of the info. This is in regards to one flat, but there are 5 in total.

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        #4
        Incidentally, no one can obligate you to complete an LPE1. I think all you obliged to do is produce the insurance policy and schedule and say whether any ground rent owed. However one thing that filling out an LPE1 highlights is that there is expected to be a fire risk assessment (which your lessees are bound to contribute to) and possibly an asbestos survey of the common parts. Increasingly property ownership is a professional game. Irritating as they can sometimes be may be best to hire a managing agent

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          #5
          Thanks for your response ATC. I have recently collected the ground rent for the property - however not for the other 4 properties. Also, I have never insured any of these properties or completed a fire risk assessment and/or asbestos survey of the common parts. I agree a managing agent could definitely be in my best interest at this point!

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            #6
            Is it in my best interest to collect the ground rent from the other properties ASAP? Or what would you suggest? Perhaps contacting the current leaseholders to discuss the future insurance of these properties, fire risk assessment and asbestos surveys?

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