Negotiating fee to renovate – Am I price Taker?

by Readers Question

4 weeks ago

Negotiating fee to renovate – Am I price Taker?

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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



Comments

David

4 weeks 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.

sam

4 weeks 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.

Harlequin Garden

4 weeks 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.


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