Understanding Flat Leases - A Guide for Property Professionals
Flats let on long leases present a range of risks and responsibilities for those surveyors and managing agents who manage buildings containing such flats, as well for conveyancers involved in the sale and purchase of flats.
There is also a range of risks associated with the ‘terms and conditions’ of flat leases, especially as there is typically no one-size-fits-all template which is used for every apartment sold.
This live broadcast session is aimed at conveyancers, surveyors and other property professionals involved in the sale and purchase of leasehold flats, or in managing blocks of flats.
The key objective is to help you better understand the major elements of a flat lease and their implications.
What You Will Learn
This live session will cover the following:
- The perils of increasing ground rents and why they are a negligence time bomb for conveyancers
- What are the options for 'curing' a defective lease and how effective are they?
- Service charge provisions: recoverable expenses, method of apportionment, management fees, ambiguous clauses, reserve funds
- Lessee contributions to repairs and improvements
- When is a lease a concurrent lease? Implications for relationships of lessor and lessee, and enforcement of covenants
- An overview of the consultation requirements that must be followed whenever section 20 notices are served
- Key definitions, such as the demise, structure, exterior or common parts
- The absence or presence of a mutual enforcement covenant in the light of the Duval case
- Issues to be considered with ‘buy to let’ landlords
- What are your duties when advising a lessee who might be called upon to become a management company director?
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.