Back dating Ground rent increase from 9 years ago!
I own a flat that I rent out. Estates & Management have just written to me and I just wanted your thoughts as to whether this is legal as I am fuming…
“Following a review of the lease for the property it has come to our attention that your ground rent was due a review on 1 Jan 2006.
Your lease states that the rent for your property is to be determined by the increase in the value of the block of which your property is a part of over a period of 21 years. Accordingly your ground rent has increased to £85.25 per annum.
The current balance on your account is £625.78 and an invoice will be sent to you shortly.”
I called them to clarify the content of the letter in that they were backdating 9 years worth of ground rent that they have only just increased and they confirmed it was correct.
This doesn’t sound right…. anyone else had this? and thoughts, suggestions?
Thanks, Mark
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Further Advance Hell or is it just me?
Member Since October 2014 - Comments: 282
3:49 PM, 18th August 2015, About 11 years ago
Reply to the comment left by “Mark Lynham” at “18/08/2015 – 15:31“:
I’m sure your contributions wouldn’t go amiss then. There are templates to write to your MP and also Local Councillors, and press releases to send to papers. Some members have also written to Journalists of the National papers. Do circulate the petition and see how else you can contribute. The thread on this (see right) is very long now. Ros is writing reports for submission to the public committee.
Sorry to hijack and detract from your original post, Mark. Good luck with everything.
Member Since November 2013 - Comments: 149
3:55 PM, 18th August 2015, About 11 years ago
its not a problem at all amd im just realising the seriousness of these proposals.
Member Since October 2014 - Comments: 282
8:04 PM, 18th August 2015, About 11 years ago
Reply to the comment left by “Mark Lynham” at “18/08/2015 – 15:55“:
Yep – very serious. Do download the tax calculator. At least your ground rent can be tax-deductible, despite the sudden hike and demand. Soon, your interest won’t be. There are over 300 pages of comments and over 2,000 comments. You won’t be able to read them all, but some of them are very educational.
See you over there.
Oh, and I hope your Freeholder / Freeloader will allow you to pay it off over the coming months.