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    so in a development where there are blocks of flats, the freeholder (F) owns the actual land, the landlord (L) built the blocks of flats on the land and lease out to leaseholders (LH) of each block. If the ground rent is being paid directly from LH to the F, how on earth does the L make any money themselves?

    #2
    Management of the properties through the service charge . . .

    Comment


      #3
      By selling the leases for vast amounts of money ?

      Comment


        #4
        Both the above
        a) When they sold the leases
        b) Via thievery through the usual service charges route (backhanders, commissions, somehow appointing themselves or friends as agents, appointing lawyers who charge massive fees for delayed payments and then taking their cut..... and so on). Very lucrative and is all theft.

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          #5
          they employ management co to do this so don't make any money through service charges. in any event i thought the service charges covered the maintenance etc so wouldn't make much from this anyway?

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            #6
            also i get that they sold the leases, but that was prob over 50 years ago so why bother to be involved now if they aren't getting any further monies?

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              #7
              I already explained - kickbacks are big business

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                #8
                interesting

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