Ask a Law Question, Get an Answer ASAP!
Thanks for your question.
I would just like to clarify, you are a tenant under a tenancy agreement and the are now offering you a long lease? So you will be a tenant under the lease which would make you the 'landlord' of the regulated tenancy to yourself.
To acquire a 175 lease for nil consideration seems like a good offer. It us an asset which you can sell. Any other conditions attached? Do you have to do works to the loft space? How long does the landlord's consent last?
Thanks, ***** ***** a regulated tenant since 1979 and now being offered a long lease. If I took the long lease would I then have to pay normal service charges, which at present I do not.
Yes, most probably you would if there are services and they are reserved in the lease.
Typically a tenant under a lease pays ground rent and service charge. Whilst there would be an ongoing liability to pay these sums you will acquire an asset which you can sell, rent or bequeath by will.
Please can I ask that that you accept / positive rate my reply so that I receive credit for helping you. Happy to assist further thereafter.