Leasehold extension

cartier

Hello

Have 90 plus yrs on my lease and I share freehold with 1 other flat

As the other flat has just 70 years left on their lease, I have been asked to agree for a joint lease extension.

I would like to add a clause to the lease requesting their floor is insulated in order to grant the lease extension (there has been an ongoing noise issue).

As they have not accepted the clause they now say that they consider applying for a statutory lease extension. They have also implied that they might lose their current buyer unless I sign immediately.

Does anybody know what this process involves for me? Any advice?

Thank you

Richard_Webster

If they go for a statutory extension they will have to pay you half of whatever the market value of the extension is - so why do that?

If they lose their sale, tough. Why do they think you are being unreasonable? I assume the cost of the insulation would be a lot less than the cost of a statutory extension for them

cartier

Thank you Richard.

They think that I am unreasonable because they believe that their flat will become unsellable. The clause asks "no bare floorboards and floor having adequate insulation". It is clear from what they say that they believe they will lose their buyer unless I sign for a joint lease extension as soon as possible.

Is there any potential issue that I should be aware of if they decide to go through the statutory lease extension?

Thank you

timmyt

you are asking that they make their own property comply with the lease, so sounds reasonable.

but you also show yourself to be a difficult landlord, however reasonable you are being, so that could put off the buyer, and then you and the co-landlord fall out your proprties then have to disclose a dispute when each of you sell...nightmare.

do you really need insulation to their floors and why did you leave it until now.

Doozergirl

timmyt wrote: »

you are asking that they make their own property comply with the lease, so sounds reasonable.

but you also show yourself to be a difficult landlord, however reasonable you are being, so that could put off the buyer, and then you and the co-landlord fall out your proprties then have to disclose a dispute when each of you sell...nightmare.

do you really need insulation to their floors and why did you leave it until now.

Read the OP. There is no current clause about soundproofing or bare floorboard, what they put in speech marks is what they want. Solicitors need to pay close attention to detail.

Sounds like the perfect opportunity to ask for something in return IMO. If the property is poorly converted then insulation could give both neighbours some relief. If they have stripped floorboards at the moment then I can see why they might feel they will lose a buyer though It's a shame that people don't understand their own leases enough to get things ready before they go to market.

timmyt

Doozergirl wrote: »

Read the OP. There is no current clause about soundproofing or bare floorboard, what they put in speech marks is what they want. Solicitors need to pay close attention to detail.

Sounds like the perfect opportunity to ask for something in return IMO. If the property is poorly converted then insulation could give both neighbours some relief. If they have stripped floorboards at the moment then I can see why they might feel they will lose a buyer though It's a shame that people don't understand their own leases enough to get things ready before they go to market.

Dozygirl you :rotfl:need to re-read my post.

OP, again, you are being reasonable, but why did you leave it until now. YOu make yourself appear fussy to both seller and incoming buyer. Catch 22, as you then end up with a dispute with your co-landlord - not wise.

Go around and chat to them and get them to see your 'noise' concern

poolboy

I am a ll & my flat has a lease clause specifying no laminate or animals.

I think its q reasonable & tenants have to live within the rules.

No complaints in 6 years of continuous lets.