We offer a bespoke service for property developers who are looking to convert properties.
whether you have just converted a property or developed a block, or simply have problems with the current leases in a building, you may wish to have a new lease drawn, setting out all the rights and obligations of the tenants and landlord.
Some sites will have complicated management structures with management companies and mixed commercial areas, flats, houses and open spaces. Others will be simpler maisonettes or conversions.
Regardless of the setup of your site, the leases will need to make sure that both the landlord and tenant get all the rights and responsibilities they need to make sure the flats are properly looked after and the building can be fully maintained.
Generally a freeholder will need to make sure that all the costs of maintaining a block are sufficiently covered by the tenants, and that there are solid provisions to make sure that all service charge and insurance rent provisions are properly in place.
A tenant will need to make sure that the lease is in a format that a modern mortgage lender will be happy with, to make sure there are not problems selling it or remortgaging in future. They will need to be certain there are no defects or unusually onerous clauses.
What thackray Williams do:
We work for both freeholder and tenants to ensure that the leases in a property serve their intended function and allow the building to be run smoothly. We work to ensure that leases are tailored to the specific building or site, and ensure that the leaseholds created remain marketable.
Key work at a glance:
- New lease drafting
- New lease review
- Negotiation of lease terms
- Lease plans
- Advice on site setup
- Advice on management structures
- Advice on service charge regimes