Issue 102

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IMPORTANT lessonsto learn frompoorly drafted leases

£4.50 Issue102 /2019 TheMagazine For Apartment Living Build To Rent Special edition

Email us at: editor@newsontheblock.comor tweet us at @newsontheblock Text us at: 0786002 1858

QUESTION Do I need permission to extend my lease? ANSWER If you are a tenant of a qualifying long lease of a house or a flat, and you have been a tenant/legal owner for at least two years, then you have the right to apply for an extension of your lease. A long lease is a lease granted for more than 21 years. You will need to serve a “notice of tenant’s claim” on the landlord informing them of your desire to extend the lease and request their permission. An alternative to this would be to negotiate with the landlord directly. However, by doing this, the landlord is under no obligation to follow the

legislation and can refuse the lease extension or set whatever terms they like. QUESTION What are the average costs for a lease extension? ANSWER For a lease extension for a house, you are responsible for the landlord’s reasonable legal and valuation costs once the notice has been served. A premium will not be charged for the new lease, but it will contain a ground rent (rent paid under the terms of the lease). For a lease extension for a flat, the cost of a lease extension is open to negotiation to a certain extent (depending on your landlord).

Usually, a premium will be paid for the new lease, and you will be responsible to pay the landlord’s reasonable legal and valuation costs, along with your own costs. There are many online calculators that will be able to provide you an approximate guide as to how much the premium should be. The premium payable depends on factors such as how many years are left on your lease and the amount of ground rent payable. If you and the landlord cannot agree, then the first-tier tribunal can determine the amount. It is always advisable to instruct representation on your behalf.

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ISSUE 102 AUGUST 129 Finchley Road, London NW3 6HY Tel 0203 538 8875 enquiries@newsontheblock.com www.newsontheblock.com Founder and Director Nicolas Shulman - nic@newsontheblock.com Publishing & Events Director Louise Newton - louise@newsontheblock.com Advertising Nik Trevillion - nikt@newsontheblock.com Production & Editorial Vikki Morlang - vikki@newsontheblock.com Events Charlotte Benton-Hughes - charlottebh@newsontheblock.com Design H. Ezgi Ece ISSN 1476-766X NewsontheBlock ispublishedbyProperty InkLtd.©AllRightsReserved.Nopartofthis publicationmaybereproducedorused in wholeor inpartwithoutpriorpermission in writingfromadirectorofProperty InkLtd. Everycare istakenwithartworkandfilm submittedforpublication.However,Property InkLtdcannotbeheldresponsibleforany lossordamages incurred.Materialcontained inthismagazine isforgeneral information onlyand isnot intendedtoberelieduponby individualreaders inmakingorrefrainingfrom makinganyspecificcommercialor investment decision.Appropriate independentadvice shouldbeobtainedbeforemakinganysuch decisions.Theopinionsexpressed inthe articlesarestrictlythoseoftheauthors.We reservetherighttopublishandeditany letters. Wecannotacceptresponsibilityforunsolicited manuscriptsandphotographs.Allpricesand offerscorrectattimeofgoingtopressbut subjecttochange.Property InkLtddoesnot acceptany liabilityforany losssufferedby anyoneasaresultofusingthismagazine.

Laura Severn is a director at LMP Law 

Call of theMonth A s this issue highlights build-to-rent, we were asked if we had any more lettings-centric issues to share. Dealing with tenants brings its fresh set of challenges from residents. In one particular case, a very distressed tenant requested a contractor to attend as an emergency as her cat (who hadn’t been approved for the flat) had gotten stuck in a cavity behind extensive pipework. It had taken advantage of an access point after the washing machine had been removed and prior to its replacement. An unusual call was compounded by the request from the tenant that any contractor must not be attractive! She said her partner would not be happy her being alone in the property unless, in her own words: “the engineer was ugly”.

Thanks to Adiuvo – specialist out-of- hours and call-handling solutions for the property management industry

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