For property investors and property managers it is fundamental to understand the difference between a Leaseholder and a Freeholder. A Freeholder is the full owner of the land and property for whom there is no limited period of ownership. A Leaseholder has the right to occupy a property for a fixed term or under a […]
In The Oxford English Dictionary, the rather unique term “peppercorn rent” is defined as “a low or minimal rent”. However, this definition isn’t quite in line with modern property law. The Leasehold Reform (Ground Rent) Act 2022 legally defines a peppercorn rent for the first time as ‘an annual rent of one peppercorn’. The Act […]
A Right to Manage (RTM) Company is a special type of residents’ management company whose members can usually only include the leasehold property owners (qualifying leaseholders) of the flats themselves.
Understanding the deferment rate is crucial for flat owners and landlords navigating lease extensions and freehold acquisitions. This rate, a key component in determining the premium payable, can significantly affect financial outcomes. As the residential property market undergoes shifts, stakeholders must stay informed about potential changes to the deferment rate, which may soon be reviewed.
Service charges can be a contentious subject, especially if leaseholders aren’t aware of their legal rights. So, understanding what they must do, and what protection they have, in the face of paying service charges, is important for all tenants.
When you first approach buying the freehold, it can seem complex. Many leaseholders who wish to purchase their freehold often wonder where they should start, and do not have the complete picture of exactly what’s involved at each stage of the process.
When landlords or freehold owners want to carry out qualifying works to their freehold property, a piece of legislation must be issued that ensures the work is carried out lawfully and with leaseholder permission.
When trying to buy the freehold of their building, qualifying tenants may come across something called the right of first refusal. Freehold right of first refusal applies directly to the immediate landlord, and is written into the Landlord and Tenant Act of 1987.
A share of freehold is when a flat or apartment leaseholder owns a share of the freehold of their entire building.
When perusing property, many people come across terms like “share of the freehold” but aren’t sure exactly what a share of the freehold means.
