Leaseholders buy the right to live in a property for a fixed number of years. Once the lease comes to an end, ownership of the property returns to your landlord, unless there has been an extension to the lease or in the case of shared ownership leases in houses, purchase 100% of the property and obtain the freehold.
Being a leaseholder comes freedom and independences, however, there also come additional responsibilities. Your lease agreement will set out your rights and obligations in full. A copy of the lease should have been given to you by your solicitor when you purchased your property. Your solicitor should have also explained the main provisions of the lease.
This guide is only a summary of your lease. Your lease is a legally binding document and along with any other relevant legislation, takes precedence over the information contained in this guide.
Your lease is a legal binding contract between you and your landlord, it is a very important document that describes the property you live in and the surrounding estate (if applicable). The lease gives you rights over the land and / or buildings for a set period. When the period expires, these rights and the property revert back to the landlord unless you successfully apply for a lease extension or purchase the freehold.
Below, we outline some of the key elements common to leases of Inquilab properties:
The conditions of your lease
Your lease is divided into schedules and these outline the conditions or responsibilities applicable to you as the lessee and to Orbit as the lessor or landlord.
- To insure the building (but not the contents of your home)
- To keep the structure and exterior of the building in good repair
- To maintain and repair all the communal parts of the building and estate
- To maintain the services, such as gas and electricity to your building
- To keep clean and lighted all the communal parts of the building
- To maintain and keep tidy all communal landscaped areas and to maintain trees and bushes on the estate
Please remember that while we are responsible for arranging and carrying out repairs, upkeep and management of your building and estate; you are responsible for paying your share of the costs incurred. We recoup these costs through your service charge. You should not undertake any repairs or maintenance to the areas for which we are responsible. Please contact us if you believe work is needed.
- To pay the ground rent and service charges (including the costs of major work) as required
- Only to use your property as a private home
- To keep the interior of your home plus fixtures and fittings in good condition and repair
- To allow us or our contractors access to carry out necessary work to your home
- Not to alter the exterior or interior of your home without our permission
- Not to cause a nuisance or annoyance to neighbours
- To send us legal notice of any change in ownership
Rules & Regulations contained in your lease
In addition to the above, each lease typically contains rules and regulations on the following:
- Anti-social behaviour
- Running a business from home
- Health & Safety
- Gas Safety Tests to Gas Appliances
- Parking of vehicles and use of roadways
- Rubbish Disposal
- Damage to the Building
- Sub Tenants
- Smoke Detectors
- Advertisements or Sale Notices
Rules and Regulations are reviewed from time to time to ensure that similar regulations apply to both leaseholders and tenants living on the same estate.
Your rights as a leaseholder
As well as responsibilities, you have rights, which are included in the lease. Your main rights are:
- To live in your home for the length of the lease
- The quiet enjoyment of your home
- For flat owners, the repair of the structure and communal areas by Inquilab
Leaseholders have additional rights under the Commonhold and Leasehold Reform Act 2002:
- The right to extend your lease
- The Right to Manage. This means that you can take over the management of the building from us. However, certain conditions must first be met. Details of these conditions can be found by visiting Lease Advice
Inquilab’s rights as landlord
Inquilab also have rights under the lease, some of these rights are:
- To gain access to your home to carry out inspections or repairs
- To collect ground rent and make service charges to cover your share of the costs of the repair, upkeep and management of your building and estate.