Income from lease extensions?

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

    Income from lease extensions?

    Hi All,
    I`m offered to buy a flat which has 25% of a freehold of an apartment block, i am also promised that once i become a share of freehold owner I should be able to extend my current low lease of 50y at no cost, which sounds like a good deal if it is true, although I do not see how this can not happen for a freeholder.
    I am wondering, provided that I will become a 25% freeholder of the whole building - and other flats at some point would want to extend their leases, would i financially benefit from premiums paid for such extensions?
    or these premiums will simply go into sinking funds of the property. Sadly I can not ask other freeholders at this time as it is an executors flat.
    thanks!

Latest Activity

Collapse

  • How much can the freeholder charge for registering details of a sublet?
    by Joubert
    I am a director of a Freehold Company of a small block of 28 flats in a popular residential area.

    Over the past few years the majority of flats have been purchased by investors who sublet the flats on ASTs.

    Although the leases between the Freehold Company and the lessees are...
    04-12-2021, 17:35 PM
  • Reply to How much can the freeholder charge for registering details of a sublet?
    by eagle2
    If the lease states that you may charge a registration fee of £10, that is the amount you may charge, you are not entitled to increase the charge unless the lease specifically allows an increase. Even then you would be limited to a reasonable amount and £100 would be considered to be unreasonable....
    05-12-2021, 06:55 AM
  • Legal Action Against Landlord - Local Council
    by Isaac1400
    Hi,

    Hoping someone can advise. I am leaseholder and the landlord is a local council. my property is a flat and there are about 55 flats spread out over 3 floors.

    Now the problem is that over the years the council has failed to maintain the exterior and communal areas - including...
    02-12-2021, 07:13 AM
  • Reply to Legal Action Against Landlord - Local Council
    by andydd
    I sued my freeholder for failure to maintain my driveway, judge was quite damning but I was only awarded £100 as hard to proof any loss BUT in your case it sounds you have exceptional worry over various incidents so yes you could sue and as I found out it was useful, I got costs too and its something...
    04-12-2021, 21:19 PM
  • Dilapidated Flat
    by scot22
    In a block of 24, unfortunately one flat has become dilapidated. The new owner has bought cheaply. She is now demanding the Freeholder pays to refurbish it claiming they have been negligent. Is there a reasonable case ?
    04-12-2021, 11:21 AM
  • Reply to Dilapidated Flat
    by scot22
    Thanks all. It was a great price, significantly below market value, plus in further negotiations a reduction to pay for any further work. This was identified by a surveyor. She is not clueless.....
    Artful in my research I read that can only claim for her ownership period.
    It is all i...
    04-12-2021, 19:33 PM
  • Reply to Legal Action Against Landlord - Local Council
    by Isaac1400
    Thank you for bringing this to my attention. I have heard of this. In summary do you know if this would benefit those with older leases and not on the builds which have has issues with rising ground rent etc?...
    04-12-2021, 19:09 PM
  • Reply to Dilapidated Flat
    by Macromia
    If a leaseholder can show that internal maintenance is required because of a freeholder's negligence (e.g. a failure to meet external maintenance obligations according to the terms of the lease), they will potentially have a claim against the freeholder and be entitled to expect the freeholder (the...
    04-12-2021, 16:59 PM
  • Reply to Dilapidated Flat
    by theartfullodger
    The previous owner might have had a case. The new owner I think only for claims for problems during their ownership. But ianal.

    Presumably she got a great price as it was so dilapidated
    04-12-2021, 16:51 PM
  • Reply to Dilapidated Flat
    by Neelix
    What utter nonsense.

    The new buyer should have had a survey before they purchased.
    04-12-2021, 16:15 PM
Working...
X