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Leaseholders Responsibility
3 Answers
The management company of the building I own my maisonette in is applying for Green Deal funding for rendering of the exterior of four blocks ...totalling 48 flats.
While they have not had formal estimates of cost,at the moment there is a guesstimate of £400,000,with funding for 3/4 of this amount. The balance will need to be paid by individual leaseholders...either as a lump sum,added on to monthly utility bills,or as a loan.
It has been stated that there is no opting out of this work.
We each need to pay £100 for a EPC (enrgy performance certificate) which will determine the funding for each maisonette...this is refundable when the work is completed.
Based on the above,its estimated that we will each need to pay a little over £2,000. I am worried,as being near wanting to retire,and already on fixed income...I do not want to commit myself to a loan...or needing to pay even more on already high utility expenses.
Where do I stand...are there any other choices available to me?
While they have not had formal estimates of cost,at the moment there is a guesstimate of £400,000,with funding for 3/4 of this amount. The balance will need to be paid by individual leaseholders...either as a lump sum,added on to monthly utility bills,or as a loan.
It has been stated that there is no opting out of this work.
We each need to pay £100 for a EPC (enrgy performance certificate) which will determine the funding for each maisonette...this is refundable when the work is completed.
Based on the above,its estimated that we will each need to pay a little over £2,000. I am worried,as being near wanting to retire,and already on fixed income...I do not want to commit myself to a loan...or needing to pay even more on already high utility expenses.
Where do I stand...are there any other choices available to me?
Answers
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It all depends on the terms of your lease, and what you, as an occupant, signed up to. When I lived in leasehold premises, I had to undertake to pay a percentage of any necessary work undertaken by the leaseholders - but most of that was allowed for in the annual management charge which we paid (which also covered upkeep of common areas). The only time we were asked for more was if any unforeseen emergency arose.
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