If you own a flat in a block that forms part of a wider estate, the idea of organising a Right to Manage (RTM) claim might seem time-consuming, difficult and costly.
Leaseholders can take control over the management of their building, without proving fault on the part of the landlord, by setting up a right to manage (RTM) company.
Collective enfranchisement is also known as leasehold enfranchisement, freehold purchase and buying freehold. Discover more with out simple FAQs.
Rip-off ground rent, extortionate ground rent, high ground rent. No matter how you describe it; if you’re the owner of a leasehold house or flat then it will be an unwanted addition to the cost of ownership.
When a flat is damaged by a leak from another flat in the same building, a dispute will usually arise. The manager of the building will often ask the person whose flat has been flooded to make a claim on the building’s insurance policy and pay the excess.
Before deciding to serve a notice of claim on your landlord and exercising your statutory rights to a lease extension, it might be worth asking whether the landlord is willing to grant you a lease extension on a voluntary basis.
When buying the freehold of a block of flats it is possible to buy under individual names, but it may be preferable to set up a company to buy the freehold instead.
In respect of the communal parts of blocks of flats, such as the entrance hallway, stairwell, parking areas and even the roof, the person managing the building has a duty to carry out a fire risk assessment and an asbestos survey.
Under the Control of Asbestos Regulations 2012 it is necessary for the common parts of residential blocks of flats, whether purpose built or converted from a house, to be tested for the presence of asbestos.
If you own a leasehold flat, it is usually the landlord’s responsibility to arrange insurance for the building and this is normally recovered as part of the service charge.