Negotiating fee to renovate – Am I price Taker?
I own a Leasehold apartment and would like to renovate, and have been proposed a fee by the Freeholder for overriding the restriction in the Lease If £20,000 plus legal costs.
This is before any cost of renovation.
I am interested in whether anyone has experience of this. Am I a price taker on this occasion or do I have the ability to negotiate and if so what are the Freeholder’s interests?
The Freeholder in this instance is a Corporate entity not an individual and the block contains 40 apartments with a lease off 900+ years.
The work I am looking to carry out is to install a skylight in the roof to increase light in to the apartment, which is top floor.
Any views / guidance / experience appreciated.
Many thanks
Charles
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Member Since April 2018 - Comments: 365
10:09 AM, 23rd July 2018, About 8 years ago
Will the fee to install a skylight enhance either your enjoyment or the property value, in which case pay the fee.If its a million pound property then its probably worth doing.You could try to negotiate, nothing lost in doing so.
Member Since July 2013 - Comments: 205
11:22 AM, 23rd July 2018, About 8 years ago
The roof is part of the structure of the building which is the responsibility of the LL. But @20k ! Wow.
I wonder if you have any recourse to the Tribunal.
Member Since May 2014 - Comments: 271 - Articles: 2
11:33 AM, 23rd July 2018, About 8 years ago
Obviously this is excessive – I’d take advise from the Leasehold Advisory people before making a decision – I’ve completely rearranged an apartment – walls, floors, plumbing etc and ‘only’ paid £1200 which I thought was enough for doing nothing (plus legal fees of course). I also paid £12000 for a lease breach – which I couldn’t argue as it was after the event (not my breach but the previous owner but passed to me, long story) – so query it, nothing to lose. With a long lease this is the Freeholder’s source of income so of course they’ll try it on.