5:41 AM, 20th May 2015, About 6 years ago 35
I have been renting my flat for 18years without any need for a deed of covenant. I with other owners have a share of the Freehold of the building.
All of a sudden company directors(owners who have put themselves forward as directors) are asking for a £150.00 +VAT for deed of covenant for each new tenant.
-Firstly this is a huge amount of money for a few pages of paper, which can be printed in no time and may be 10minutes of administration time.
-Secondly, they want my tenant to sign the deed of the covenant and not me the owner.
-Third thing is that no one ever asked for a deed of covenant before, although I have been told that this is in my deeds.
-Also the contents of the proposed deed of covenant seems to be relevant to both myself and my tenant,
– In addition my tenant has been there for a while and might not want to sign the deed of covenant in the middle of their tenancy.
I have asked the property manager to remove some of the clause and he has emailed me back agreeing to this!
Can they ask for so much money after such a long time, and ask my tenant to sign it?
I am totally confused and stressed out by this. The building manager is now bullying me and telling me that if I do not sign their deed of covenant, they will take me to court, I will loose my flat and I have to pay all their costs or I can pay £900.00+VAT to their solicitor to do a separate deed of covenant for me.
I appreciate any help and advice, as I have no idea how to go about this and I am getting desperate.
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