December 21, 2024

Posts Comments

You are here: Home / Home Top / £4,000 sublet fee at Butler’s Place

£4,000 sublet fee at Butler’s Place

January 30, 2018 By


The highest sublet fees LKP has encountered exist at the retirement site Butler’s Place, in Milford, in Surrey.

In some retirement leases subletting fees of 1 per cent of the purchase price or value of a flat are charged at each subletting.

In theory this means that if you have, say, three tenancies in a year, you will be subletting the property at a considerable loss.

The fees at Butler’s Place are extraordinary, even though most of the money in fact goes into the site’s contingency fund rather than to the freeholder (in this case E&J Capital Partners).

Related posts:

Warner Court sky-high sublet costs when a relative goes into care You DO have to pay sublet fees annually in retirement leasehold McCarthy and Stone reform sublet fees after discussions with Campaign against retirement leasehold exploitation ‘Curtains for exit and sublet fees’ by Law Commission … but not until March 2017
Filed Under: Exit & sub-let fees, Home Top, News Tagged With:

Professional services

Managing agents

Big managing agents, which manage flats, are big because they have got business from developers or large-scale freehold owing companies.

Such as Proxima or Fairhold, which are administered through Estates and Management and are ultimately controlled by a trust in the British Virgin Islands.

Doubtless they are very obliging.

Not a single one is big through consumer choice.

Managing agents accredited to the Leasehold Knowledge Partnership, on the other hand, want business from leaseholders. Many are former leaseholders. Many have spoken at our Parliamentary meetings urging politicians to clean up the sector.

All have signed undertakings of good practice and have provided extensive references … from leaseholders.

They can also hand-hold leaseholders through right to manage at minimal cost.

Contact Sebastian O’Kelly at LKP for further details: sok@leaseholdknowledge.com, 07808 328 230

Please click on logos for link and details

 

JFMManagement

London

Town&City

Darlington

UrangFulham

RedRock

Essex / Middlesex

NRMlogoNorwich

 

hmlandertonsCroydon

 

hmlhathawaysNorth London

 

hmlhawksworthPimlico

 

hmlshawRichmond, Surrey

Diamond

Epsom, Surrey

 

jonesassociates

Macclesfield

 

 

Other Professional Services

 
The following advertisements are from firms that seek business from leaseholders. Click on the logos for company profiles.

Chartered surveyors

richardjohnclarkelogo

capitalleasehold6-9ins

Newsletter

Click to sign up

LKPhelpsmall

 

To contact Campaign against retirement leasehold exploitation you can use the form here