When you buy a flat or maisonette that we own, you buy a lease on the property and become a leaseholder.
You own the inside of the flat and we own the flat block or exterior. We are responsible for the upkeep of the flat block.
We have to provide a management service to the leaseholders. We charge leaseholders an annual service charge.
Leaseholders are also charged for improvements and other major works to the block and for buildings insurance.
Your lease is a legal document that sets out the relationship between us (the landlord) and you (the leaseholder). Your lease tells you:
- how long the lease is
- what we are responsible for
- what you are responsible for
- how we work out charges for repairs and services
- the amount of ground rent you need to pay
We are legally responsible for:
- giving you an estimate of your service charges before the start of each financial year
- notifying you of your actual service charges after the end of each financial year
- consulting you on major work and services, before inviting estimates from contractors and awarding contracts
- informing you of any rechargeable costs we have incurred, within 18 months of incurring them
- repairing and maintaining the structure and exterior of your block, including external windows
- providing repairs and services to common areas
- repairing and maintaining any communal equipment in your property, for example heating appliances and door entry systems.
- requiring other leaseholders to agree to similar terms to those in your lease.
You can find information about being a leaseholder on GOV.UK.