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Should this lady agree to sub-letting? Comments please

August 2, 2012 By

Dear Sir, or Madam,

I have been living in a retirement flat that I bought nine years ago with a 99year lease.

The freeholder and manager is a registered housing association. In the past there has never been a problem in selling these flats which were built in 1985 as they are in a very convenient place, the service charge covers repairs and replacement to heating, plumbing in the flats, we have a laundry room and communal lounge etc.

On the sale of the flat  a sum is put into a ‘sinking fund’ which pays for repairs etc.

At the moment we have eight of the 24 flats on the market due to owners having died or moving to nursing homes. Some have been on the market for 2 years.

One of the deceased owner’s sons who now owns the flat wants to rent it out. At present there is a clause in our lease forbidding this.

We have been asked to agree to this.Has this happened to anyone else and what would happen about the ‘sinking fund’and how could the future repairs be funded if there was no money going into it?

Yours truly
name withheld

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Filed Under: Exit & sub-let fees

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

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hmlandertonsCroydon

 

hmlhathawaysNorth London

 

hmlhawksworthPimlico

 

hmlshawRichmond, Surrey

Diamond

Epsom, Surrey

 

jonesassociates

Macclesfield

 

 

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