conveyancing, house purchase and houes sale, home information packs by GB Solicitors of Fareham Hampshireproperty purchase and property sale, conveyancing and home information packs - GB Solicitors, Fareham Hants

Landlord's notice fee

A landlord is the person or company entitled to receive rent from a leaseholder and the person to whom leasehold premises need to be surrendered when the lease comes to an end.

Usually a lease will require the leaseholder to inform the landlord whenever there is a change of ownership of a lease or whenever the leaseholder offers the lease to a lender as security for a mortgage loan. The lease will also usually require a fee to be paid when that notice is given. The precise amount of the fee will depend upon what the lease says and the costs charged by the landlord or his managing agents. We will not know the precise amount until after we have seen the lease and any other relevant paperwork.

Sometimes a old lease might specify a fixed level of notice fee that is involved - for example "two guineas" (now £2.10). Modern leases tend to specify that the fee is to be a "reasonable fee". In our experience most managing agents and landlords claim a "reasonable fee" of between £50 and £100 but for London properties, or particularly expensive flats, the fee claimed can be over £200.

The actual fee you have to pay could be substantially more or less than this. As a general guide it is likely that the notice fee will be lower for older leases and higher for newer leases.

web design by SiteWeave of Hampshire