Congratulations on Your Lease Assignment
Congratulations on your assignment of a long lease to residential premises; that is to say, a lease for a term of 21 years or more for a part of a building (i.e. a flat in a block of flats).
Your conveyancer should, if they have not done so already, register your details with Land Registry to note that you are the tenant of the long lease for the premises and they should provide you with a copy of the leasehold title in that respect.
During your conveyance leading up to your agreement to take assignment of the long lease and to be bound by its terms and conditions we would usually be asked to provide replies to the Law Society pre-contract "LPE" management enquiries and when doing so we provide a bundle of management documents for due consideration during the conveyance.
By way of our said management replies we advise any prospective tenant to obtain a full building survey report carried out by a Building Surveyor who not only reports on the condition of the premises but also on the condition of the block as a whole because the costs incurred in maintaining and repairing the block and the provision of its communal services are apportioned to each tenant of the block to form part of their leasehold service charge liabilities.
We also advise that you obtained adequate legal advice about the meaning and intention of the terms of your lease, the outcome of your building survey report and our said management replies.
We also advise to obtain a full copy of the long lease for the premises to which you can always refer to, and also a summary of that lease written in layman terms by your conveyancer.
Our "Welcome Leaflet" provides the following important general information about living in a block of flats under our management and which covers the following topics:-
Additional Management Regulations / Tenant Reply Forms
In accordance with our additional management regulations, the following forms are for tenants to print out, complete and return to us when required if/when their circumstances change and/or when we request such :
Please do provide us with those completed forms as and when necessary to inform us of a change in your contact details or circumstances.
Bank Details for Remitting Settlement of Leasehold Charges
Throughout the term of your tenancy you are required to pay leasehold charges, such as service charges and perhaps a ground rent and/or insurance rent. Other charges (administration fees) may also become payable from time to time.
We allocate you a "Tenant Reference" (being a set of digits in the following form nn/nnn/nnn) and using that reference we maintain for you a “Tenant Account” to record your leasehold charges raised and your payments received against those charges.
We would wish to encourage you to use your bank’s internet or telephone banking facilities to remit payments by bank transfer into our client deposit bank account used specifically for the receipt of tenant payments.
Your bank should be able to advise how you can arrange to make such electronic payments if you are unsure yourself.
If you must remit payment by cheque then an administration fee of £3.50 must be applied for the handling of any cheque. This is because it is quite rare these days to receive a cheque and must then make a visit to our branch to deposit just one cheque and then we must await at least 5 working days to for clearance.
Our client deposit bank account details which you should use to remit payments towards your leasehold charges are:-
Bank: HSBC Plc at 1-3 Warwick Street, Worthing, BN11 3DE
Sort Code: 40-47-25
A/C No. 63668576
Payment Ref: nn/nnn/nnn (being your tenant reference)
Demands for payments shall be issued to your 'address for service' by first class post and accompanied by relevant supporting information which you should carefully read and retain for your records. Therefore, please use the relevant form (as listed in the above mentioned list of forms) to notify us of any change to you 'address for service'.
Bank Details for Remitting Settlement of Administration Fees
From time to time there may be occasions where we either pre-agree with you (or any authorised representative) the provision of a service, or must otherwise provide a service relating specifically to you, and for which we must charge you an administration fee as opposed to our fee forming part of our overall management fee payable by our client and recharged via the block's service charge provisions.
Such occasions may be when you need to: apply for consent before altering the leasehold premises, apply for consent before keeping a pet, provision of management information to assist you in a proposed lease transfer or securing a mortgage/loan against your lease, provision of information and/or copy documents as and when you request such, etc.
On these occasions you (or your representative) shall be provided with a fee invoice upon which our business bank account details shall be noted; being different bank account details to those used when remitting payment of leasehold charges.