What happens when my landlords leasehold runs out?

angelin

And goes back to the freeholder (the council own the land) my landlord has never mentioned it running out. Ive rented for 20 years (I know). Rumour on my street is that the council owns the land and so do Tescos. Ive checked the land registry and it seems my flat only has five years left on it. I assume my landord bought it fifty years ago knowing this. I absolutely have no clue how this works and I cant see anything on the internet. Do i get served notice from my landlord or does it just play out until the council evict me? I am a key worker locally but i dont think there is such a thing as a council list anymore.

Should i mention it to my landlord or just keep quiet. Its very worrying but i guess this is the price you pay for renting all your life.

Carrot007

A lot depends on wheather your landlord was allowed to sublet.


Do what ever you like but prepare a contingency fund.

Smellyonion

Are you in a position to purchase the property and fund the lease extension? This may be a way for you to get a decent deal on the property if it adds up.
I would imagine that your landlord should be aware of this, once his lease expires, the property is immediately not under the ownership of landlord.

angelin

My landlord owns hundreds of properties in London so will be up on everything. Ive always looked after the property and its reLly good value for London. I’ll never be in woth a chance to own a London property so buying it wont be an option. Im at a loss as to what the council will do. The street is full of businesses so i cant imagine they will evict everyone overnight but, what do I know?

babyblade41

Would it be an idea to ask the council direct ? I am no expert on this at all but sense you are really worried

Fire_Fox

angelin wrote: »

And goes back to the freeholder (the council own the land) my landlord has never mentioned it running out. Ive rented for 20 years (I know). Rumour on my street is that the council owns the land and so do Tescos. Ive checked the land registry and it seems my flat only has five years left on it. I assume my landord bought it fifty years ago knowing this. I absolutely have no clue how this works and I cant see anything on the internet. Do i get served notice from my landlord or does it just play out until the council evict me? I am a key worker locally but i dont think there is such a thing as a council list anymore.

Should i mention it to my landlord or just keep quiet. Its very worrying but i guess this is the price you pay for renting all your life.

If the long lease expires, the property reverts to the freeholder of the building. This is not necessarily the same as who owns the land. The freeholder would have to take appropriate steps to remove any occupants, should they wish to do so.

bouicca21

Maybe you should check who owns the freehold. Rumour may not be correct.

lisyloo

I am pretty sure you cannot be evicted overnight.
These things usually take quite some time and there is notice.

I think I’d keep quiet but start making contingency plans.
If initially you don’t have a clue what will happen there is still nothing stopping you saving into a separate account.

Sometimes I find it easier to create a separate account with my bank e.g. I have one for household bills and one for tax, one for general savings etc.

steampowered

Your tenancy agreement will remain binding on the council, when the freehold reverts to them.

The council could of course give notice to terminate your tenancy once any fixed term has expired, in exactly the same way that your landlord could.

I don't really know, but I imagine the council would either keep renting to you, or the council would seek to sell the freehold / sell an extension. There is no merit in them evicting people for the sake of it.

The land registry will tell you who owns the freehold - no need to rely on rumours.

lookstraightahead

Is this something that could be a fresh start for you? The freedom that comes with renting is that sometimes you have more choice. Do you have to stay in London?

angelin

Well Im in my 50’s and London still excites me so, no I wouldnt want to move away but I certainly couldnt afford to move to a different property in London as I have a good deal here and my landlord is good if the flat has any issues. Eventually I will retire up North.

Im off to check the land registry......