How to Reduce Stress when Renting a Property
We collect, manage and purchase on behalf of retained clients ground rents of all types across Northern Ireland.
Douglas Huston LLP have specialist management software for the collection of ground rents.
We have a number of retained clients with specific instructions to consider and purchase on their behalf ground rent portfolios, with rent rolls from £1,000.00 to £150,000.00 per annum.
If you wish to have a confidential discussion about your ground rent portfolio please contact Douglas Gibson on 028 90 683 711 or email@example.com.
The owner of the land that flats are built on allow the use of the land on the basis of granting a long lease, in return this gives the owner the right to make a rental charge called ground rent.
A Management Company is a company limited by share or guarantee whose members are residents of a development. These companies are run by Directors elected from amongst the residents who in turn usually appoint Managing Agents to administer the company and manage the developments. This is where Douglas Huston LLP come in.
A service charge is a sum payable by the owner of the flat to cover the costs of insuring and maintaining the common parts of a development, lighting insurance etc
It is better to have a block policy that covers every flat because if it was left to individual flat owners to insure their own property and one flat was uninsured this would create serious problems for the adjoining properties. It would also be extremely confusing and cumbersome settling an insurance claim where there are a number of insurers involved.
All leaseholders have rights concerning management of their property. If the agent is appointed by the Management Company there is usually the opportunity for leaseholders to make their views known to Directors for the Management Company either informally or at the Annual General Meeting.