I own 3 leashold flats (as in I'm the lease holder)
1. Owned by a freeholder in its usual basic sense, I pay ground rent, service charge and expenses.
2. Everyleaseholder is an equal shareholder in the owning Ltd company. We pay no rent but do employ a managing company & pay a service charge and any bigger expenses.
3. 3 of the 4 leasholders are directors in the Ltd company owners, We pay nothing apart from any expenses as they arise (4th didn't want to get involved with the legal takeover of the freehold title and therefore has to pay ground rent and a service charge to us which has so far covered all expenses for the whole property, additionally he didn't get the remaining 22 years extended to 222 years and will lose the property in 2039)
Obviously there are council tax etc etc to pay just like on any property.
1. Owned by a freeholder in its usual basic sense, I pay ground rent, service charge and expenses.
2. Everyleaseholder is an equal shareholder in the owning Ltd company. We pay no rent but do employ a managing company & pay a service charge and any bigger expenses.
3. 3 of the 4 leasholders are directors in the Ltd company owners, We pay nothing apart from any expenses as they arise (4th didn't want to get involved with the legal takeover of the freehold title and therefore has to pay ground rent and a service charge to us which has so far covered all expenses for the whole property, additionally he didn't get the remaining 22 years extended to 222 years and will lose the property in 2039)
Obviously there are council tax etc etc to pay just like on any property.
