ENFRANCHISEMENT ALEP A process of negotiation Thereisa‘statutorycalculation’ set outinthe
lawastohow alease extensionshouldbevalued. The calculation is, however, subject to a number of
variables.Asaresult this becomesaprocessof negotiation. Typically, the Tenantmakes an offer to theLandlord, at alower level, theLandlord
Valuation Step1
comesbackwithahighercounter-offer, andfrom there the two parties negotiate towards each other until an agreement is reached.
Choose your
valuer PLEASENOTE The Landlord is not obliged
Makingan offer
Step2
to negotiateinformallywith you. It is at theLandlord’s discretion whether they
want to negotiateorrespond to an informal approach.
FORMAL OFFER
Serving notice
INFORMAL OFFER
solicitor
Choose your
NOTESONFEES As a Tenant, you are liable fortwogroups of fees:yours andyour
Landlord’s. Youmust pay your Landlord’s “reason- able legal and valuation
Negotiation Step3
fees” (but not their nego- tiation fees).Make sure with your solicitor that the fees you are being asked to pay are fair.
Need help extending your lease?
SA Law’s enfranchisement specialists can help you maintain the value of your property or property portfolio
Find out more by visiting
www.salaw.com/lease-extention or by calling our team in London on 020 7183 5683 or in Hertfordshire on 01727 798000
Specialists in Lease Extensions, Leasehold Enfranchisement and Right to Manage
4th Floor, Pavilion View, 19 New Road, Brighton BN1 1UF T: 01273 710712 · E:
tmorgan@odt.uk.com · W:
www.odt.uk.com
Premium agreed
Step4
Don’t agree
As the only solicitor members of the Association of Leasehold Enfranchisement Practitioners in Devon&Cornwall we can help you with:
• Buying freeholds for investment • Buying and selling leasehold flats • Service charge disputes • Collective rights of leaseholders (enfranchisement, right to manage)
• Lease extensions • Variations of leases • Missing landlords • Tribunal representation
We offer competitive prices to deal with leasehold matters throughout the South West and nationwide.
determines premium
Tribunal
14 Southernhay West, Exeter EX1 1PL 01392 258451
www.crosse.co.uk
Flat Living Issue 14, Spring 53
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