Government statistics suggest that in the year 2018 to 2019, 4,5 million leasehold properties existed across England alone, around 20% of the entire housing stock. With ownership of leasehold property comes the competition between the priorities of landlords and tenants: landlords seek to dispense their obligations under the leases, drawing as their income service charge … Continued
Residential Property Insights
You own a flat and pay your service charges. Your landlord, however, refuses to comply with your request for copies of the building’s insurance certificate. You are now unclear whether the building is insured at all, which leaves you in a precarious position as one of your most valuable assets could be at risk. Furthermore, … Continued
There has been a lot in the news recently about buildings suffering from defective cladding which may pose a fire risk. Building owners have been left with the high costs of replacement works, and leaseholders are frequently served with substantial service charge demands. So, what is going on? We look to clarify some of the … Continued
How COVID-19 is affecting developers liable to pay the Community Infrastructure Levy In the ten years since the Community Infrastructure Levy (“CIL”) was introduced, it has largely achieved its aim of making infrastructure contributions from new developments more transparent and predictable, as opposed to the rather more opaque process involved in negotiating the terms of … Continued
In Duval (Respondent) v 11-13 Randolph Crescent Ltd (Appellant) [2020] UKSC 18 the Supreme Court has ruled unanimously in favour of a lessee’s challenge to a freeholder looking to grant a licence for structural alterations carried out by another flat owner. Many residential leasehold properties up and down the country contain similar clauses prohibiting structural … Continued
Our specialist enfranchisement paralegal Jaime Burgess has given an expert insight for the News on the Block Q&A, answering the vital question “Do I need a lease extension?” In this article, Jaime explains when and why obtaining a lease extension is advisable, and provides a useful explanation of the costs involved. Read the full article … Continued
Special Purpose Vehicles As a firm we act for many property investors and developers. Many clients ask us about whether it’s better to buy, develop and own property via a limited company and in doing so, setting up a Special Purpose Vehicle (SPV). There are complex considerations in advising on SPVs, involving tax and many … Continued
The short answer is yes, it is often possible to extend a lease fairly rapidly but not overnight. Care and caution should be exercised before approaching a freeholder to extend your lease, however tempting and/or important it is to seek to extend quickly. If you need to extend your lease, we are highly experienced in … Continued
Statutory compensation for failure to protect tenancy deposits: dealing with claims by one of a number of co-tenants Summary points 1. Section 213 of the Housing Act 2004 requires private landlords to protect tenancy deposits in an authorised scheme and to serve “prescribed information” on tenants within a 30-day period. 2. If either or both … Continued
Landlords beware: Getting your AST right from the go! Are you a residential landlord? Landlords entering into an Assured Shorthold Tenancy (AST) should do so with care. They need to get things right from the outset, otherwise problems could be stored up for later. The tenancy deposit is one issue that frequently catches landlords off … Continued
