Ground rent is payment made by leaseholders to the Freeholder of the site.
- If you own the leasehold of a flat you will pay ground rent to the Freeholder, in this case the person who owns the freehold to the block.
- Ground rent payments are generally paid annually in advance. OBMS Ltd will contact you 28 days before your ground rent is due.
- Flat owners who have Residents Management Company (RMC) often own their own freehold and therefore do not have to pay ground rent. They have shares in the property, so they do not need to pay ground rent to themselves.
Please find below the relevant details of the Commonhold and Leasehold Reform Act 2002 which are of importance to leaseholders.
GROUND RENT PAYMENT NOTES FOR LEASEHOLDERS (Extracted from the Commonhold and Leasehold Reform Act 2002)
Read this notice carefully. It sets out the amount of Ground Rent due from you and the date by which you must pay it. You are advised to seek help immediately if you cannot pay, or dispute the amount. Those who can help you include the Citizen’s Advice Bureau, a housing advice centre and a solicitor. Show this notice and a copy of your Lease to whoever helps you.
The landlord may be able to claim additional Ground Rent payments from you if you do not pay by the date specified in this notice. You have the right to challenge the reasonableness of any additional sums at a leasehold tribunal.
Section 167 of the Commonhold and Leasehold Reform Act 2002, and regulations made under it, prevent your landlord from forfeiting your lease for non-payment of rent, service charges or administration charges (or a combination of them) if the amount owned is £350 or less, or if any of the unpaid amount has been outstanding for more than three years.
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- Right to ManageThe Commonhold and Leasehold Reform Act 2002
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