Section 20 Notice: A special kind of letter a landlord must send a leaseholder before they enter into a contract to carry out Qualifying Works or before they enter into a Qualifying Long Term Agreement. For more information see Section 20 (Landlords must Consult). Section 20B Notice: A special kind of letter a landlord can send out… Read More »
Management Fee: This is a fee a Landlord or Property Manager charges for organising the provision of services and work, invoicing the Service Charge and other activities as determined by the relevant Lease. The Lease will normally determine (to some degree) the way the amount of the Management Fee charged to Leaseholder should be calculated.… Read More »
Ground Rent: An amount payable by a Leaseholder for rent of the land upon which the building containing the leased property is located. The amount can vary from a very small amount up to thousands of pounds a year. The amount will be stated in the lease. Ground rent can also go up at intervals… Read More »
Administration Costs: They are different to a Service Charge, as these are charges from a landlord or property Manager for costs other than those relating directly to the provision of services used in common or the maintenance of a building. Administration charges are typically for things such as permission to sub-let, provision of information, a… Read More »