Oct
14
What is the correct apportionment of service charges & repairs/decs for a self contained flat above a shop?
By
The site is 4 leasehold, residential self contained flats over a shop used by a hand car wash business, in west London UK. The lease stipulates that the service charges and periodic external repairs to walls roof etc, must not include the shop/commercial part of the property but does not specify a percentage. What is the correct percentage?
Sell and Rent Back
Related articles:
- Whats an ideal leasing size for a shop like yogurt shop or coffee shop? if you were to lease some space to open up like a frozen yogurt shop for example what would be an ideal space to rent, about how many square...
- Interested in leasing a shop in England? Hi Im interested in leasing a shop, north east england specialising in second hand games and consoles. I have seen some premesis I would be interested in but does...
- Guide to Residential or Commercial Leases on UK Properties So, you’re leasing a property. Why pay for commercial property services when you’ve done it all before?After all, a lease is a lease is a lease – isn’t it?Well,...
- Where can I get a free or cheap shop rental agreement pro forma for leasing a shop out in England? A solicitor is too expensive and it would take years to recover his costs without making a penny!Sell and Rent Back ...
- Do you pay stamp duty on a new shop lease? We are about to sign a new seven year lease on a business we have had for 34 years,the landlords agent has told us we will have to pay...
2 Comments
February 1st, 2010 at 4:52 am
I would ask the seller/agent to stipulate the percentage in the lease if as you say there isn’t one on it already.
sophia
February 2nd, 2010 at 8:53 am
There is no “correct” apportionment, it is whatever the Lease stipulates, and whoever drew up that lease is at fault, as is any solicitor who allowed a sale to proceed with a lease like this. In your position, I’d check with all the other leaseholders, see what their copies say, and also check with the solicitor who handled the sale of the property in which you have an interest. This is something s/he should have checked and sorted out before the sale.