A lease is a special type of property contract that sets out in writing the relationship between the building owner and the flat owner. It is an extremely important document. Understanding the rights and obligations it sets out on the respective parties is critical for getting to grips with the complex way residential leasehold property operates.
In this section, you will discover various articles discussing different aspects of the lease contract which will help your understanding of this important document. If you still have questions or require further clarification, don't forget to contact us, comment on an article or leave a comment in our forum.
The global financial crisis means money is tight. What does it mean to your block?The credit crunch will spare no one, but for flat owners problems and opportunities can be comfortable bed partners.
What’s bad news for buy-to-let could be good news for blocks, says Jane Barry Live, as I do, in a block that’s extensively sublet, and you can’t help experiencing a touch of schadenfreude at the plight of buy-to-letters. During the past five years, while buy-to-let has been the new gold, and property programmes have bashed on about how it only takes some faux-wood laminate and a bevvy of brushed steel door handles to turn a dump into a desirable rental for “young professionals”, I’ve heard a different message coming back from flat owners who see their property as a home, not an investment.
After reading the section of the Carsberg Review on leasehold and rental property management I started to think about where we actually are in terms of reform and education in the leasehold sector, especially as much of the new-build property is being leased. So, in order to understand where we are now we perhaps need to remind ourselves how we got here.
MiNC Apartments is a family run business with offices in London, Dubai and Johannesburg. Upon meeting Kamran Mahmood, the MiNC business plan is clear; to create a brand of serviced apartments that will become synonymous within the sector as Hilton is to hotels or McDonalds to fast food. But is this possible and how long will it take? The company entered the serviced apartment sector after rentals started narrowing in the UK and it was looking to enhance its own income as well as that of its clients’.
Commonhold is a new form of property ownership. It was introduced by the Commonhold and Leasehold Reform Act 2002. We explain this new form of land tenure and tell you everything you need to know...
4site consulting explains the importance of health and safety. It is not surprising that we question the sanity of Health & Safety when it seems to impinge on activities we all enjoy by enforcing what appears to be unreasonable and bureaucratic restrictions.
Although tempting for some, Jo Rengger highlights the risks parties take. Negotiating an 'arms length' lease outside the Leasehold Reform Housing and Urban Development Act 1993 (the "Act") might initially appear a cheaper, quicker option but there are potential pitfalls. Parties ultimately have to make a pragmatic decision on global costs but should always consider the following:
A landmark Tribunal decision about a Birmingham block. Just as we thought it was safe that deferment rates were fixed, a coach and horses has come crashing through the door. The story so far: in Sportelli the Upper Tribunal (Lands Chamber) set the rates at 5% for flats and 4.75% for houses.
The recent case of Hosebay Limited v Hugo Benjamin Day and Lady Hilary Maureen Greenslade Day (2009) is the latest judicial offering on the thorny issue of what constitutes house under the Leasehold Reform Act 1967 (the Act).
Communal heating systems are very common within older blocks and it is inevitable that at some point the Residents Association will consider abandoning the system in favour of installing independent boilers and heating systems to each flat.Whilst the idea of each resident having their own heating system is desirable for all sorts of reasons, making it happen is not as straight forward as you would imagine, so in order to save you time and money on consultants and surveys let us first look at the practical issues.
Over the past 10 years it has become a cliché for residential developers to hire famous architects. And in Liverpool Grosvenor didn't spare a penny by hiring international architect Cesar Pelli (famous for the Petronas Towers in Kuala Lumpur) to design their landmark city centre block, One Park West.
Leading national property management company Peverel OM has relaunched as OM Property Management. Andrew Billson, Managing Director of Operations at OM Property Management, comments:
As membership of pressure group CARLEX swells, News on the Block interviews co-founder Melissa Briggs, about the Campaign for the Abolishment of Retirement Leasehold Exploitation.
Dr. David channon explains why winter is the busiest period for rodent control. As we all shiver and long for the warmth of our comfy houses whilst commuting to work in the freezing weather, rodents share our sentiments and are also looking for cosy hideouts during the cold snaps.