AnnaD Posted October 7, 2007 Report Share Posted October 7, 2007 hi i was wondering if anyone knew if there was any issue with letting a property that has the share of freehold? Would i have to get any new documentation drawn up that says that the landlord (ie me) will not be the one living in the flat? i am about to let my property and someone mentioned that there may be an issue. any advice much appreciated! thanks Anna Link to comment Share on other sites More sharing options...
Trenners Posted October 7, 2007 Report Share Posted October 7, 2007 Hi AnnaD, Although you own a share of the freehold - you still need to abide by the rules of the lease which will almost certainly have a number of sub-clauses in it which relate to "sub-letting". Most leases have clauses stating that you must gain permission from the shareholders before subletting, no DSS tenancies are allowed, no Holiday Lets are allowed and the freeholder can also decide which letting agents are appointed and can also charge you for granting permission to sublet etc. Most freeholds are purchased by a company and each person owning a share of the freehold basically owns a share in the company that has bought the freehold. If this is the case in your situation then you will need to write to the Directors of the company that own the freehold to comply with the terms of the lease. If the Directors are unhelpful then you can always get the other freeholders together, call an Extra Ordinary General Meeting, and vote them off the board of the company ! I hope some of this information proves useful ..... Mark Link to comment Share on other sites More sharing options...
AnnaD Posted October 7, 2007 Author Report Share Posted October 7, 2007 hi Mark thanks for the quick reply and the advice! the property is just 2 "maisonettes" and it's myself and my neighbour in the downstairs flat who share the freehold equally. She is aware that i want to let my flat and has no problem with it but thought perhaps we would need to formalise it. If we both agree (and the terms of my mortgage allow letting) then i'm hoping there should not be a problem! would you suggest I speak to a solicitor to find out? i don't have any documentation outlining any sub-clauses and i can't make head nor tail of the huge folder my neighbour has lent to me to trawl through! thanks again! Anna Link to comment Share on other sites More sharing options...
GPEL Posted October 8, 2007 Report Share Posted October 8, 2007 If you go to the Land Registry web site you can download the deeds for your property. Don't enter in to any uneccessary agreement with your neighbour if you can help it. You may be introducing conditions that could come back & bite. I would give her a copy of the tenancy agreement you plan to use and ask her to contact you direct (not the tenant) if there are any problems. Link to comment Share on other sites More sharing options...
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