My husband and I may need to rent out our Rumney basement flat temporarily due to a new job. We used a Rumney conveyancing practice in 2001 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

The lease dictates the relationship between the landlord and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Rumney do not prevent subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Expecting to complete next month on a basement flat in Rumney. Conveyancing solicitors have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Rumney should include some of the following:

• Does the lease prohibit wood flooring?

I have just appointed agents to market my basement flat in Rumney.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – what should I do?

It best that you clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am looking at a two apartments in Rumney which have in the region of forty five years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Rumney is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of buyers and banks, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Rumney conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

We expect to complete our sale of a £350000 flat in Rumney in seven days. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Rumney?

Rumney conveyancing on leasehold flats more often than not requires the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to sell the property.

Leasehold Conveyancing in Rumney - Examples of Queries Prior to buying

Best to be warned whether changing the roof or some other major work is due shortly to be shared between the leasehold owners and could well dramatically increase the the maintenance costs or necessitate a one off invoice. Is anyone aware of any major works in the planning that will increase the maintenance charges? How much is the annual service fee and ground rent?

Other Topics

Lease Extensions in Rumney