Service Info Freehold Debt Recovery
Freehold Debt Recovery
The charges payable on a freehold property can be described by many different headings, such as freehold property charges, service charges, estate rent charges and estate management charges. However, whilst they are a type of service charge, they actually encompass a reduced range of services applicable to freehold estates. These charges will include such items as the cost of maintaining the communal areas on freehold estates. The communal areas may simply be private roads; but they can also include landscaped gardens, electric gates, street lighting, refuse areas, sewage pumps, play areas and TV aerial systems.
Charges on freehold properties often fail to be explained fully at the time of purchase and many freehold owners do not realise that such charges are applicable to their property. This is why a great deal of sensitivity is needed in handling these types of charges along with knowledge to explain the charges, and how they arise, in detail. The charges will usually be only for those items from which the owners derive a benefit.
Recovering the costs of managing communal areas of freehold properties can be challenging for managing agents but arrears can quickly impact upon the effective management of the whole estate. When dealing with leasehold service charge arrears there are certain factors that can be relied on within the lease that allows recovery to be quick and effective. However, on freehold property, arrears can be difficult to recover due to the restricted enforcement options and the fact that the owners are unaware of their obligations.
For more information on how SLC Solicitors can aid you with Freehold Debt contact [Jo Green] on 0333 0300200.