ground rent

[strangewayofsavin]

I have a mate whom bought a property via lease hold, every year he would pay the annual charge,(ground rent) and gain a reciept and a proposal of how the monies would be spent.
Recently his ground rent has been doubled without any prior notice, he no longer receives an invoice or a reciept, and when asking for a receipt or invoice is met with, shall we say FO.
Are ground rents subject to usual contract agreements(i.e statement of account) or is this subject ruled by different rules and regulations?

[enaid]

Re: ground rent

Does this info help?

What is Ground Rent?
Ground rent is the rent paid for the flat by the owner. The rent is not affected by the value of the property and is usually a nominal amount.

What is the usual amount of ground rent payable per year?

It is generally no more than £150.00 per year. If the rent is likely to increase, the increases must be set out in the Lease or there must be a clear formula as to how it can be increased.

[strangewayofsavin]

Re: ground rent

So is it covered by contract or covennace on the deeds?

[enaid]

Re: ground rent



The ground rent can normally only be increased if:

• you sell the property, or
• you agree to the increase, or
• the lease says the ground rent can be increased.

Most leases say the ground rent can be increased after a certain number of years. If this is the case, it should also give information about how often this can be done (for example, once every five years) and how much notice the freeholder has to give you. Check to see what your lease says.

So lokks like anything that affects the ground rent has to be written in the lease.

[strangewayofsavin]

Re: ground rent

sorry enaid read it properly 2nd time around, many thanks