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Loft Conversion Freeholder Fee
CR22
Posts: 4 Newbie
My leaseholders want to convert their loft. I have no problem with this but have been told that as I own the freehold (and the flat downstairs) they would need to pay a fee to me (they also need my concent). Their lease states that they have the use of the loft space but that they do not own the roof nor the structure of the house. Does anyone know how to calculate this fee? Any help, extremely gratefully received.
CR22
CR22
0
Comments
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p = s * [iv - c]
p = Payment to you
iv = increase in value to them
c = cost of works
s = share of the profit to them of doing the job which you want
Get them to extend their lease first, as the project will then increase the value more. I know nothing about this topic.After the uprising of the 17th June The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee Stating that the people
Had forfeited the confidence of the government And could win it back only
By redoubled efforts. Would it not be easier In that case for the government
To dissolve the people
And elect another?0 -
You need to get the lease interpreted properly. No leaseholder will own the roof or the walls. If they have use of the loft then it might be that you aren't entitled to uplift in value if the lease includes the loft area.
If you are entitled to a share of the uplift then you will need a surveyor that specialises in valuing leases etc. to give you a proper idea.Everything that is supposed to be in heaven is already here on earth.
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