Ground Rent Arrears
Ground Rent Collection
Unless you are proactive with ground rent collection and block management it is very easy for your lessees to fall into arrears with their ground rent. Most lessees will pay when they receive the demand, but of course there are others who perhaps don’t live at the property or for some reason have not got around to paying. Unless you have got a managing agent that is collecting the ground rent on your behalf it can be quite time consuming. If you own a block of flats where the gorund rent has not been collected for several years, did you know that you can still sell the property with the existing arrears. We will purchase your property with the existing ground rent arrears and service charge arrears.
Ground Rent Demand
Each lessee should pay their ground rent annually provided they receive a demand from the landlord or their managing agents. In some cases the ground rents aren’t paid simply because of an oversight by the lessee. With the recent changes in the law, ground rent demands must be served in the correct format. You can no longer just send the lessees an invoice demanding the ground rent, instead you need to send them a detailed statement of what the charge and he period that it covers.
