Watford Lease Extensions
Lease Extensions in Watford by Woodward Chartered Surveyors.
More Information about Lease Extensions and Valuations by Woodward Chartered Surveyors
If you are a qualifying leaseholder, with property in Watford, you will have the right to claim an extension of your existing lease of an additional 90 years at a “peppercorn” rent (effectively rent free).
Your statutory right is contained in the Leasehold Reform Housing and Urban Development Act 1993 (as amended), and this legislation sets out the procedures which must be followed by a flat tenant to claim this right.
Here we explain briefly the procedures involved in exercising your statutory right to claim a lease extension.
Briefly, in order to compel a landlord to sell a lease extension, the building in question must be:
- A residential structure, not a commercial building.
- Outside the precinct of a cathedral.
- Not owned by a charitable housing trust, National Trust or the Crown.
And the flat tenant must have:
- A lease of more than 21 years when granted.
- Owned the lease for at least two years at the time of serving notice.
- Not be a business or commercial tenant.
More About Watford, from Wikipedia.
Watford became an urban district under the Local Government Act 1894 and a municipal borough by grant of a charter in 1922. The borough, which had 90,301 inhabitants at the time of the 2011 census, is separated from Greater London to the south by the parish of Watford Rural in the Three Rivers District.
Watford Borough Council is the local authority with the Mayor of Watford as its head; one of only 18 directly elected mayors in England and Wales. Dorothy Thornhill has been the mayor since the directly elected system was set up in May 2002 and is both the first Liberal Democrat and the first female directly elected mayor in the United Kingdom. Watford elects one Member of Parliament (MP) for the Watford constituency. Prior to the establishment of this constituency in 1885, the area was part of the three-seat constituency of Hertfordshire.
What does a Lease Extension Valuation by a Chartered Surveyor, for a property in Watford include? Find Out More Here.
Contact Woodward Surveyors for more Information on Lease Extensions in Watford.