Freeholders and Developers

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Freeholders and Developers

With property transactions in decline and equity margins being squeezed, if you own the freehold as the developer or following an acquisition, the income from ground rents can be a key source of turnover during these difficult times.

The credit control process is crucial to ensure you make the most of your freehold investment. The reality is that if ground rents are not paid on time, you can recover interest in addition to the amount of the overdue ground rent following demand and you can claim administration charges in relation to the delayed payment for the additional time and expenditure spent on credit control.

We act for developers and freeholders nationwide and are able to turn around the overdue charges quickly and usually at no cost to you (where costs are recoverable from the tenants).

The vast majority of leases allow for all legal costs for breach of lease (including recovery of arrears of rent and service charge)to be paid by the defaulting leaseholder rather than the freeholder, allowing you to instruct us without risk. We will also pay court issue fees for arrears recovery on our clients’ behalf to ensure the process is as quick and seamless as possible and does not overload you with requests for money which can delay the recovery process.

For those freeholders that need guidance on the process of demanding ground rents, credit control generally and also how our litigation service operates up to and including forfeiture of the lease we are able to provide training at clients’ offices, as well as precedent documents in prescribed formats to ensure compliance with relevant legislation.

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