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Deed of Variation - Leasehold Flat
STownsend
Posts: 6 Forumite
Hi
I'm looking to convert my flat (currently let out on a standard AST) to a Serviced Accommodation but there's a currently a clause in the leasehold that restricts this.
I have been told to seek a Deed of Variation but, when I approached the management company about this, I was told they weren't willing to permit it.
I understand that, as a leaseholder, I have part ownership with the other owners of the flats in the complex and I could possibly seek to gain permission through them.
Has anyone been through this process before and know how I might contact the other owners? I believe most of them also let their flats out bar a few who live in some of the flats.
Thanks
Steve
I'm looking to convert my flat (currently let out on a standard AST) to a Serviced Accommodation but there's a currently a clause in the leasehold that restricts this.
I have been told to seek a Deed of Variation but, when I approached the management company about this, I was told they weren't willing to permit it.
I understand that, as a leaseholder, I have part ownership with the other owners of the flats in the complex and I could possibly seek to gain permission through them.
Has anyone been through this process before and know how I might contact the other owners? I believe most of them also let their flats out bar a few who live in some of the flats.
Thanks
Steve
0
Comments
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I understand that, as a leaseholder, I have part ownership with the other owners of the flats in the complex and I could possibly seek to gain permission through them.
Do you mean that as well as owning the leasehold of your flat, you are a joint freeholder of the building (i.e. you own a share of the freehold)?
If you want to vary the lease, you'll need the freeholder(s) to agree.
There are many possibilities...
- The freeholders might refuse
- The freeholders might agree
- They might ask you to pay a premium for the lease variation
- but it's also likely that they cannot give you consent, because that would breach the freeholder's covenants in everyone else's lease.0 -
As a leaseholder, you have no rights whatsoever to vary your lease. You might own a share of the freehold as WELL as your lease, though. Or you might not. Doesn't really matter - the point is you need the freeholder's permission and co-operation, whoever the freeholder is.I understand that, as a leaseholder, I have part ownership with the other owners of the flats in the complex and I could possibly seek to gain permission through them.0 -
What do you mean by 'Serviced Accommodation', a term normally associated with offices.0
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What do you mean by 'Serviced Accommodation', a term normally associated with offices.
Serviced apartments for short and long stays where you provide other services are very common.
AirBNB would be an example.0
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