#Leaseholders

Important Leasehold Reform News Featured Image

Important leasehold reform news!

Millions of leaseholders will be given the right to extend their lease by a maximum term of 990 years at zero ground rent, the Housing Secretary Robert Jenrick has announced today (7 January 2021). The changes, making home ownership more secure, will mean that a leaseholder can extend their lease on their home but will no longer pay ground rent to the freeholder which could save them thousands of pounds.  This reform also applies to all new retirement properties and forms part of the biggest reform to English property law for forty years.  Under current rules, leaseholders of houses can…

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Why is There a Health and Safety Section in My Service Charge Budget Featured Image

Why is there a Health and Safety section in my Service Charge budget?

Click on the video below to listen to Property Manager, Jamie explain why there is a Health and Safety section in the Service Charge budget.     “The Health and Safety section in your Service Charge budget will mainly cover the costs for both the Health & Safety and Fire Risk Assessment to be carried out.  It is vital that a risk assessment is carried out in your block to highlight any potential hazards and to rectify them accordingly, so the block is fully compliant with all health and safety regulations.”  

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What is Commonhold Featured Image

What is Commonhold?

Click on the video below to listen to Property Manager, Lewis discuss what Commonhold is.     “Commonhold is a type of property ownership which was introduced with the overall aim to replace leasehold by simplifying the system where a set of rules will apply to any commonhold property. To date, there are approximately fifty blocks of flats which are commonhold properties in England and Wales.”

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Statement of Estimates Featured Image

‘Statement of Estimates – Why do we need this and what’s included?’

Click on the link below to listen to Property Manager, Jamie explain.     “A Statement of Estimate can only be issued once the first notice has expired.  This will include recommending contractors and their prices by the landlord or agent, as well as nominated contractors by the lessees, if any have been put forward.  In the same way as the Notice of Intention, the landlord and agent must have consideration to any comments put forward by the lessees before or on the expiry date.”

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Notice of Intention Featured Image

‘Notice of Intention’ – why do we need this and what’s involved?

Listen to Property Manager, Lewis explain what a ‘Notice of Intention’ is. “A Notice of Intention is sent to inform leaseholders what work the landlord or managing agent is planning to carry out. The notice will give recommendations as to why the work should be carried out. An address and time will be provided of where the specifications of the works can be viewed. Leaseholders are invited to give observations in writing of the intended works. They will also be invited to nominate a contractor of their choice. The landlord or agent must then take into consideration any comments received…

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Can I sublet my flat? Featured Image

Can I sublet my flat?

Click below to listen to BW Residential Property Manager, Lewis Hood talk about subletting your flat and whether you would be in breach of your contract or not.     “Your lease will provide details on whether you are permitted to sublet your flat.  The majority of leases will allow you to sublet but you will often need permission from the freeholder.  We would recommend reading your lease and contacting your freeholder to gain permission before subletting your flat.  As if you do not get permission, you will be in breach of your lease.”

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What is a RTM - Right to Manage? Featured Image

What is a RTM? (Right to Manage)

Click below to listen to BW Residential Property Manager, Lewis Hood for more information.    

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What is a licence to alter? Featured Image

What is a licence to alter?

Watch our short video to understand what a licence to alter is.    

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A guide to leasehold featured image

A guide to leasehold

Please read this guide for more information on leasehold.  

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What is a lease featured image

What is a lease?

Click below to listen to BW Residential Property Manager, Jamie Fisk for more information.   

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