Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
Bought and sold a flat with a joint freehold. I decided to keep the joint freehold for a rainy day hopefully sell it in the future when the other freeholder may want to buy it off me.
The property is a terraced house converted into two flats upstairs and downstairs. The other joint freeholder is also one of the live in owner leaseholders along with the other leaseholder whom I sold the flat too on a 99 year lease.
What was supposed to be a hands off hassle free asset has proved to be a pain as the current joint freeholder is a very rude and awkward individual. Firstly he has refused to jointly insure the building breaking the terms of the lease. I have had to threaten him to insure that the building is insured jointly or at least send me a copy of the insurance he took out to insure the whole building is covered.
Reluctantly he has finally sent me a copy of the policy but my name has not been noted on the policy. Is that a problem? can or should I insist on my name being noted on the policy?
2, The downstairs leaseholder has been flooded from upstairs freeholders bathroom above and the buildings chimney stack. The downstairs leaseholders solicitor has written to me and other freeholder demanding that we sort out the problems. I have tried speaking to the other freeholder and asked him to sort out some estimates as he lives there, but he has ignored me.
Therefore I will now have to get involved and get some building quotes
A) can I charge both the leaseholders a management fee for getting estimates? The lease seems to infer that I can change a reasonable fee. What would be a reasonable fee? how does it work, do I invoice first and not do anything until I am paid?
B) When I have building quotes for the works to be carried out, for sure the upstairs leaseholder/freeholder is going to ignore my request for authorization for the works to be paid for and carried out. So what do I do now? what is the procedure of the freeholder? get estimates, invoice the leaseholders, get paid by the leaseholders and then authorize the work?
What should I do if the other freeholder simply ignores or blocks everything we need to do jointly to maintain the building?
Any experience on this would be greatly appreciated
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