Block Management working for you…
Whether you have purchased your leasehold property as an investment or as your home, you will need to check the terms of your lease before carrying out any modifications or if it is your intention to sub-let the property. In many instances you will require a formal written licence to carry out any modifications, or to sub-let your property, from the Landlord under the terms of your lease or transfer (TP1) document.
We can liaise with the Landlord or any relevant party, whose responsibility it is to grant this type of licence. All we require is a copy of the lease or transfer (TP1) document, full details (and drawings or specifications) of the alterations or works which are intended to be carried out. We will then liaise with the Landlord to gain consent on your behalf and bring the matter to a speedy conclusion.
If you are considering sub-letting your property we would strongly advise that you review the terms of your Lease to check what requirements you are obliged to follow; most Leases will contain mechanisms to regulate and control sub-letting and as with many Leases, the following terms and conditions may apply:
- Not to sub-let part only of the Flat as distinguished from its entirety
- Not to sub-let the whole of the Flat to a Housing Association or Local Authority or any other body whose objects include the provision of housing accommodation
- During the last seven years of the term of the Lease not to sub-let without the previous consent in writing of the Landlord
- Within one month of any Tenancy Agreement being entered into, to provide a copy of the Tenancy Agreement to the Landlord and / or the Management Company together with any registration fee payable as specified under the Lease.
It is also important that any prospective sub-tenants enter into a Deed of Covenant promising to abide by the key covenants and regulations of the Lease or ensure that their performance of these covenants and regulations are written into any Tenancy Agreement – failure to do so could be detrimental to you and leave you liable if there is any issue regarding a breach of Lease by your sub-tenants.
If you are unhappy with the current management arrangement or have an absentee Landlord you have a number of options open to you:
- Apply for Right To Manage
- Collective Enfranchisement (purchase the freehold)
Please feel free to contact us and we can discuss your situation and identify the best option for you and the next steps to take.