The address of the rental property and unit number, if applicable. Here he turns his attention to the minefield of dealing with your freeholder to get a formal lease extension. The term is fixed at the beginning and so decreases in length year by year. Getting a lease extension when there is a head lease (aka intermediate lease) is more complicated because: The head lease can't grant you a 90 year lease extension if their lease term is under the granted term; and. It could be that you are having problems trying to sell your flat due to the length of term remaining or maybe have a clause which permits a significant ris in the ground rent. It can apply to either commercial or residential property. It extends the terms of the original contract under the assumption that the car has not lost its value. “Sample Lease Expiration and Renewal Letter” November 5, 1999. Unlike a lease. Newest recent off June 12, 2023. Your monthly rent will be [AMOUNT] per month. Please be advised that your current lease will expire on [DATE]. A month-to-month rental agreement is a lease that does not have a traditional end date. Using Jotform’s PDF Editor, you can modify any letter template to perfectly match your needs. The main advantages of the informal lease extension are: Speed: the formal route requires a notice to be served on the freeholder and they are given up to 2 months to respond. For more information please visit our Conveyancing page. Gather the Original Lease. In the first paragraph, it should clearly state that it is requesting an appeal for being denied the rent or lease of an apartment and give the apartment’s address. If you agree to the terms of the lease extension, then by all means you can stay longer in the property you're renting at the moment. Shared ownership lease extensions; Latest News The King's Speech 11:30am 7th November 2023. Rental and Lease Agreement Templates. I am requesting you to extend it before it expires. You may utilize these forms when you have a tenant who wants to extend the term of his rental or lease agreement. Frank will pay $600/- per month as the rent of the apartment. A Lease Renewal or Extension Form has to be drafted before the lease expires. Even on a month-to-month lease, you have to stop the automatic renewal with a termination notice. Leaseholders can sell their leases provided they comply with any provisions contained in the lease. . Our offices are located in Brentford, Ealing, London Belgravia and Canterbury, all within easy reach by public transport. Once the lease falls below 80 years, the landlord is entitled to receive 50% of the increase in property value when an extension iss granted; this “Marriage Value” is what makes it. Use our template informal lease extension letter The valuation letter should include the premium you are offering for the number of years you want to. At conversion, your public housing lease will be terminated and you will be asked to sign a new Section 8 lease. The more convincing your reasons for moving are, the more persuasive your cover letter will be to the employee. PDF . The Act applies to residential leasehold properties in England and Wales and will prevent freeholders from charging more than a ‘peppercorn’ ground rent. Landlord’s name and contact information. Lease Termination. You may be willing to agree a joint instruction of one valuer who will provide. Click here to use the Leasehold Advisory Service online calculator to calculate a rough estimate of the cost of your lease extension. Under this route, a leaseholder can approach the freeholder in the first instance and ask whether they are interested in selling them the freehold. If you are purchasing, and the lease needs extending, it is possible for the seller (if they have owned the lease for at least 2 years) to start the lease extension process and give the buyer the right to extend (assign the benefit of the notice). This form contains the validity of the rental period means a tenant is taking the house for rent for how much. 8. Amount of the rent increase. 01/05/2023 MSHDA 2022 Annual Certification Year End Reporting Memorandum The deadline for submission of the 2022 Owner's Certification for all LIHTC, 1602, TCAP, HOME, NSP and HTF developments is March 1, 2023. 3. This is the advised and most common route (as it's safer than an informal extension). Subject: Lease Extension Letter. Whether financial problems are due to losing your job due to the coronavirus outbreak or having unexpected medical bills from an accident, cheaper rent could give you some much-needed relief. First, include the name, designation, and address of the recipient. Property address. Whilst an informal lease extension is a solution to any leaseholder not meeting the qualification period and sometimes even those that do, expert advice should be sought from a surveyor with regards to acceptable premiums (a premium being the price payable for the additional years granted) and ground rents, and from a solicitor in relation. The original contract must be followed when making monthly payments. The informal route. A future freehold purchase. often for 99 or 125 year lease. Leasehold owners wishing to extend the lease on their residential property have statutory rights under the Leasehold Reform and Urban Development Act 1993. While a 30-day notice to vacate is standard, your landlord may require a 60-day notice or 90-day. 41. March 2016. Our lease extension calculator results reflect an extremely close approximation of the true cost of extending your lease in accordance with the rules, common law. The formal extension includes a revised mileage agreement and monthly rental fees charged based on the expected vehicle depreciation. Current rent amount. Dear Name of Landlord: This letter is a formal request to renew the lease on the property at the above address for another [email protected] 10 - Letter asking landlord for a lease extension/to purchase the freehold Read More . g. Reasons for extension. The notice sets out a strict timeframe which. The longer the span of the term, the lower the total price gets. A lease the a legal document, so a lease extension newsletter request should be treated with the same level of importance. I am very grateful for your kindness, and I will take you up on your offer immediately. We will then provide you with confirmation of the Premium to extend your. . e. Kindly consider this as a notice letter for a period of 60 days. They won’t issue the draft paperwork until this fee has been paid. 38. The terms will include ground rent of £100 per annum (to double every 25 years). Both parties are able to make amendments to the lease with the right amount of written notice. Sanctuary will instruct the RICs accredited surveyor to provide a lease extension valuation report. If you own an iOS device like an iPhone or iPad, easily create electronic signatures for signing a section 8 extension request letter in PDF format. The term of your current lease will expire soon and we would like to renew your lease for another year. First Paragraph. ADENINE lease is a legal document, like a lease extension letter request should must treated at the same grade of importance. e. Step 2: Decide on. Alert your tenant that excessive utility usage has been noted with this direct and to-the-point form. What does the letter of extension for a lease mean? What is the procedure for composing a formal letter to your landlord? Download and use this template to write a letter to the. Step 2: Lease-End Inspection. The. uk. Simply fill out our online contact form, send us an e-mail via contact@theleaseextensioncompany. However, ongoing ‘informal’ lease extensions, where the ground rent is to be increased above the existing ground rent, would need to be completed before 30 th June 2022. Date of Amendment: MM / DD / YYYY. e. This is the advised and most common route (as it's safer than an informal extension). Below is an informal lease extension offer from the freeholder of this flat. Landlords or Property Managers, Housing Choice Voucher (HCV) Program, Project Based Vouchers (PBV), Instructions / Guides. The landlord can then choose to accept this offer or respond with a Counter-Notice and their own asking price. Choose your language and complete the prompt. The date the payment is due must not be either less than 30 days or more than 60 days after the date the notice is served, or before it is meant to be paid in line with the lease. The agreement remains active until either party gives proper notice to end it. 3. Add All the Necessary Details as Part of Your LOI’s Body. Up request a lease extension, offer a formal letter containing all the appropriate view your landlord needs to make a deciding. In commercial property rentals, a lease extension agreement allows the business to remain in operation on the property after the original assignment of lease . Re: Lease Renewal. Whilst negotiating an informal lease extension, the freeholder may attempt to increase ground rent or introduce additional charges as part of the agreement. A lease extension can be both formal or informal. S. Name and information of the tenant and landlord. Our partner, Raminder Uberoi, can also provide a Notary Public service at any of our London offices. Informal letter enquiring about lease extension of a flat, or to purchase the freehold of a house or flat [Landlord’s name] [Landlord’s address] [Landlord’s address] [Landlord’s. The extension can then last as long as the leasing company wants, usually no longer than six months. Leaseholders have a legal right for a lease extension of an additional 90 years with zero ground rent. Landlords or Property Managers. Alternatively, if you are able to negotiate an informal lease extension with the freeholder, our legal fees are generally around £1,250 plus disbursements for such matters. The Leasehold Reform Housing and Urban Development Act 1993 gives leasehold owners the legal right to a lease extension, using the above-mentioned formula to calculate the premium payable to the. Below is the sample letter for the extension of maternity leave (email format). Date the increased rent is due. Once a lease term falls below 80 years the premium for an extension may increase. Remember to be respectful, concise, and appreciative in your approach. Step 4. • 6-9 month process minimum probably more like a year (or possibly more) in Central London. They can be contributed by sending to editor@armywriter. Informal Extension is a short-term solution designed to help. I contacted the neighbour and he told me ground rent was – £270 p/a fixed until 2034. A property with a low lease shouldn’t put you off buying it or selling it. VAT - Valuation fee: £300 – £375 + VAT - Peabody solicitors costs (standard lease extension): £450 - £550 + VAT Contact the Nationwide Vehicle Contracts team on 0345 811 9595 or email our Extensions team to request a Contract Extension. Whoever is looking for a house for rent then it is the legal form which will track the record of all the details. While informal lease extensions offer simplicity and cost savings, they come with risks and uncertainties. How to make an signature for the Voucher Extension Letter Form on iOS devices. This fee will be non-refundable, and they know this. For LOIs involving property, include the details of the property itself such as size, price, etc. Online ID Fee Per Person – £8. Informal lease extension process. We are happy to offer to extend your lease back up to 99 years for the inclusive price of £10,200 and our total legal and valuation fees will be an additional £1,000 pus VAT. Professional Lease Extension Template. Currently, the lease is set to expire on [date]. I intend to relocate to a new place after getting an indefinite job transfer. These follow the standard membership renewal letter format. The legal letter shall be delivered at least thirty (30) calendar days before the end of the following rental period. The late Louie Burns has written on the LKP website about the cheating played by freeholders with informal lease extensions. Section 42 Notice to Freeholder; 7. The letter should enclosing:How To Write Long-Form Content with the AI Letter Writer. Leaseholders have a legal right for a lease extension of an additional 90 years with zero ground rent. ( i) The lease shall have a twelve month term. The notice period for terminating a lease will vary depending on the terms of the lease agreement. Get in touch today on 0161 696 6187. A LEASE adviser can consider the terms of the lease to identify if possible what is part of the demised premises and what belongs to the landlord. Effectively what you are buying is the benefit of the lease contract rather than outright ownership of the property. A section 42 notice is a document served by a tenant of a long (21+ years) lease on the landlord setting out the proposed terms of a new lease. 6 / 5 Based on 1899 reviews. Dear [Landlord's Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. Opportunity Home will issue a new voucher within 10 business days of Opportunity Home’s written approval to move. Step 1 – Inform the Freeholder of your wish to pursue an extension through the statutory route. The simple agreement regarding visitor acceptance has not been followed. If the freeholder agrees then both parties will have to negotiate. For a flat with 80 years left on the lease and expected to be worth £400,000 with a lease extension complete, and ground rent of £100 a year, a lease extension will cost from about £7,000 to £10,000 plus costs mentioned below. Superior landlord lease extension. Conclusion If you wish to carry out alterations or improvements, the lease needs to be examined carefully to check whether consent is needed and the extent of the leaseholder’s demised premises. Download and use this template to write a letter to the lessor asking to extend your lease. [Landlord’s name] [Landlord’s address] [ Date] Dear [landlord’s name] I am the leaseholder of [ insert address of the flat] and I am writing to you to enquire about extending the lease of my flat. Once your surveyor has carried out a valuation, you should ask him to send a copy to your solicitors. Begin the email by expressing your appreciation for the current lease and mention your desire to extend the tenancy. you’re a service tenant employed by the landlord. August 22, 2022 July 14, 2021. Length of the lease extension, including the proposed end date. Name and contact information for the property manager (or property owner) Date of the letter. follows a formal timetable where you. In many cases, you can activate an informal extension simply by placing a call to the car company that provides. At this point, the surveyors for each party will work to agree a fair and reasonable premium for the lease extension. Provided they agree, there is still the time it takes to negotiate the terms of the new lease and the premium to be paid. State the Purpose: Clearly state the purpose of your letter – that you are requesting an extension of time to complete a. used], a qualified RICS Valuer, to carry out an official lease extension valuation on my property on [insert date]A property manager with FirstPort, who secretly joined a closed Facebook group of leaseholders, is to leave the company. There is more information on formal negotiations below. Most share of freehold property owners will extend their lease by way of an informal lease extension, which means they will agree on the length, premium and terms of their lease extension with the other freeholders. A lease is a statutory document, so ampere hire extension letter request ought be worked with the same step of importance. February 17, from 6am. Most specialist RICS surveyors offer a best and worst case scenario for what you should offer the freeholder to extend the lease using the statutory formula within the Leasehold Reform Act. Write the lease date and the names of the tenants who signed the lease. I’ve done quite a lot of reading on the subject in the past and know I have to cover the legal and survey fees anyway. To demand a let extension, submit a informal letter included all the german details your landlord needs to makes a decision. DOC Create Document. The procedure involves serving a Section 42 Notice with the help of a specialist solicitor,. We are happy to offer to extend your lease back up to 99 years for the inclusive price of £10,200 and our total legal and valuation fees will be an additional £1,000 pus VAT. All articles . Statutory lease extension. Please include: Your vehicle registration number. Lease Extension Request for [Rental Address] Dear [Landlord’s Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. Tenancy Services - Doing changes to an tenancy agreement. This will usually be for 99 or 125 years and the flat can be bought and sold during that term. 7. Remove name from lease letter sample - 6-12-08 Letter to Rabbi Cunin Denying Lease Extension - smmc ca Arnold schwarzenegger, governor state of california resources agency santa monica mountains conservancy ramirez canyon park 5750 ramirez canyon road malibu, california 90265 phone (310) 5893200 fax (310) 5893207 v i a e l e c t r o n i c m. Time Period. TEMPLATE DOCUMENT. FirstName] [Lessor. Lease Extension Valuation Using a Qualified Valuer – £500 to £1000. Are you eligible to use the formal route?An informal route involves approaching the freeholder directly, and negotiating outside the terms of the Act. U. 1. A "Formal Letter Lease Extension" is a written communication used to officially request an extension of an existing. To book an appointment, please call 020 8840 6640 or email solicitor@starckuberoi. The lease extension will grant you the additional 90 years on top of the unexpired. FAQ’s on Leave Extension Letter. Reasons for extension. A tenant notice to vacate letter is a legal document a tenant sends to a landlord to inform of a plan to move out of an apartment, condo, house, or another rental residence. I am handwriting to let you know is EGO am happy to extend the lease agreement for the characteristics yours are renting at [Property Address] for another [Number about Years] years. 5% and 10% respectively. S. Place both pieces of information on the left. if the property is worth £250,000, the bill for extending the lease will go up about £2,500 a year. In our current economy and in particular with lease terms approaching 80 years, it is imperative that a Notice is served to secure a flat owner’s position. The ground rent reverts to peppercorn (£0). Informal Car Lease Extension An informal extension is often a temporary measure that helps smooth out the transition between one lease and another. Having gone through four years of college, graduating with a good GPA along with multiple summer research stints/internships, then applying to several US universities at considerable expense, and finally being rewarded with an acceptance letter from a respected. DATE. Formal Lease Extension Advantages The informal lease extension process. However many websites / articles caution against “agreed lease extensions” where you have negotiated with the Landlord and not gone through the statutory. The letter should include: Your name, actual meet and ask informationLouie Burns, of Leasehold Solutions, has written on the LKP website about the cheating played by freeholders with informal lease extensions. g. These are the “informal route” and the “formal” statutory route. To request a lease extension, submit a formal letter features all that applicable details get landlord requirements to make a decision. The extension can then last as long as the leasing company wants, usually no longer than six months. A late rent notice (or a notice to pay rent) is a written letter from the landlord informing the tenant that rent is past due and requesting the tenant pay the overdue rent immediately. The lease expires on DATE and I would like to renew it until DATE. You will often see lease extension agreements extend to a month-to-month basis. It should state the acknowledgment letter for receiving documents or product received. This letter is a formal request to renew the existing lease on the property at the (full address) for another (Number of years) years. Aforementioned letter supposed include:ONE lease is a legal register, therefore a lease expansion letter request must be dealt with the same level to importance. As per our lease agreement dated [Original Lease Date], I am providing [Notice Period, e. Add the property address of the rental unit. The Leasehold Reform (Ground Rent) Act 2022 comes into force on 30 June 2022, which means ground rent changes and also lease extension changes, Brady Solicitors explains the impact below. I must admit how much I enjoyed staying in your rentals. Extension costs and added value from Homehold, based on Upper Tribunal guidance. co. Under Section 39 of The Leasehold Reform, Housing And Urban Development Act 1993 qualifying leaseholders have a statutory right to extend the remaining term on their leases. You can extend the lease on a shared ownership property. Step 3 – Use an RICS surveyor who has experience in leasehold extension legislation and. Many apartments that rent out to tenants on a month-to-month basis usually require that you. In some cases, the tenant may be required to give 30 days’ notice, while in other cases, the landlord may be required to give 60 days’ notice. Cloned 61,887. In consideration for this extension to the term of the lease, the. The late Louie Burns has written on the LKP website about the cheating played by freeholders with informal lease extensions. Insert the date of execution for the Room Rental Agreement. For more information, please see the lease extension page on our website. 36 Best Lease Renewal Letters & Forms (Word & PDF) A lease renewal agreement is a necessary document if you are managing a property that you rent out. Since there may be a deadline for the lease extension, a return request will prove that the letter was sent and received on time. 42 notice as to avoid any late payment. is most commonly done using a short document which extends your existing lease, but leaves it much the same. Back To Property Blogs Informal lease extensions – what you need to know . ge in the Lease extension agreement to remove the capital improvement provision. However, I find myself unable to rejoin the office just yet. Step 1: Review the Original Lease Check the original lease terms and conditions. Dear [Landlord’s Name], I am writing to formally request the renewal of the commercial lease agreement for the premises located at [Property Address], which is set to expire on [Lease Expiration Date]. Once a lease term falls below 80 years the premium for an extension may increase. Step 1 – Inform the freeholder of your desire to extend the lease and that you will be pursuing the statutory route. Caliph, Mrs. Sample Lease Renewal Letter. If feasible, submit your lease extension letter 30-60 days before your lease finalize date. . While lease renewals and lease extensions are similar in many ways, landlords often use the lease extension when they want to keep a tenant in a property for just a few months after the original lease expires. 9090 Old Church Way. There are two options when extending a lease: either a formal or informal route. 2. This gives your landlords enough notice so that when they seek of next tenants, they can set their move-in start for as you’ve formerly left. City, State, Zip Code. 48 Templates. Contact the freeholder to request a lease extension. PDF . There is no obligation on the freeholder to respond or to agree to sell following this request. Currently, the rent amount for this unit is $1025. Recent case increases premiums. Free Agreement Renewal Letter. uk to make an appointment with a lease extension specialist today. If a leaseholder has a. The format of the acknowledgment letter for project must include the name and address of the sender. You will find that like your original finance documents a formal extension will have a set monthly rental payment, an agreed-upon mileage allowance and be for a set period of time. RE: Lease Extension. Informal Route; 3. Our partner, Raminder Singh Uberoi, can also provide a Notary Public Service. Sample – Non-Renewal Lease Letter. A subcategory of informal entry, known as a “Section 321” entry, would allow the duty-free entry of a shipment valued at $200 or less that is imported byA Demand Letter should be used when the owner of a property wants to recover the possession of the property from a person who is currently possessing the same (the "possessor"). If possible, submit your lease extension letter 30-60 past before your lease cease date. This agreement is valid for a period of [Number] [Years/Months] starting from [Date] and ending. The advantages of choosing an informal route include: To qualify for a statutory lease extension, you must have owned the property for at least 2 years. will reduce your ground rent to £0. Dear Name of Lender: This email is a formal request to have a five-month extension on my car loan. Dear Ms. First, as the sender, type your full name and address aligned to the left side, just as you would when addressing an envelope. Ref: Lease agreement, 10/08/2020. Download. Our Letter of Intent for Contract Renewal, Application Letter for Certificate Renewal, and Landlord Lease Extension Letter Templates Are Perfect for. co. , 60 days] notice of our intent to renew. I would respectfully request that you not raise my rent of AMOUNT for the term of. Estimate the premium you are likely to be expected to pay to the landlord by using an online lease extension calculator or ask other leaseholders under the same roof what they have previously paid. The ground rent will be £250 a year, doubling every 10 years. I presently have (insert number of years) left on my lease. A lease is a legal copy, so one lease expansion letter request need be treats with the equal leve of importance. The letter should include: Choose company, current address or contact informationFree Tenant's Lease Renew Letter Samples: Save Time and Hassle - RequestLetters. Landlords or Property Managers. The reason behind the same is that, _____ (I am looking forward to shifting to some other place/ I am moving back to the hometown/ any other reason). 2. Below is a sample lease extension letter from a landlord. Lease renewal agreements help. The body of your letter should be somewhere between 1-3 paragraphs. Remember to be respectful, concise, and appreciative in. You do not have automatic renewal rights if: you’re a farm business tenant. There’s no “perfect” way to draft a rent increase letter, but it typically contains the following details: Date of the rent increase letter. Depending on your level of friendship, you may choose to use the word dear or another type of greeting. Close with a polite and professional sign-off. Use the guide and template provided to effectively convey your request, enhancing your chances of receiving a favorable response. The renewal terms or any changes to the terms of the original lease. Note, unlike the example here, most roommates are not also co-tenants on the original lease. That can be done at any time. The type of lease — e. Revise it in your preferred online or offline editor, fill it out, sign it, and print it. CHA-0022 HCV Change of Ownership/Management Packet. I’ve owned the property for over 2 years so the lease extension can be done via the formal route but to throw a spanner in the works the freeholder has sent me a letter out of the blue offering up to £1k towards my legal fees if I wanted to extend the lease via the informal route. This is the statutory lease extension allowance, but there may be occasions where the term can be less, and this will be dependent on whether we own the freehold of your home. We have local RICS surveyors who specialise in lease extension valuations. Extension Forms (Lease Renewal Forms). In very simple terms, the Statutory lease extension process typically works like this: 1) You make an offer for the lease extension, let's say £5k 2) Your freeholder makes a counter offer, let's say £12k 3) You (or more likely your valuers) negotiate 4) If you can't agree, you go to a tribunal and each side puts their case. To request a lease extended, present ampere formal newsletter containing any to appropriate details their rental my to take ampere decision. [Name, Company Name & Address here] [Date] Dear [name], First of all, I would like to thank you for your services to our company. Sign the Addendum. If your freeholder approaches you and offers a lease extension, this will always be an informal agreement. The letter should include: Your name, current address and contact informationI suspect that's a statutory lease extension - and it's taken 7+ months because the leaseholder and freeholder are negotiating because they can't agree on a price. You will want to be sure that you have the right kind of lease renewal agreement document to keep your renters in your leased property for the long term if they wish. Wesley, etc. The property would be worth ~£435k in the current market with a long lease and ground rent is already £10 per annum if that helps at all. September 20, 2022 by Rahul Panchal Before placing your belongings in storage and begging a friend for a guest bed or couch, go the far easier route and write your landlord a lease extension letter. With an informal extension, the leasing company extends the lease for a relatively short term — typically six months or less — without a new lease agreement and with the same payment schedule as in your original contract. TEMPLATE DOCUMENT. Latest Compliance Form Updates. King Charles III opened Parliament and stated that the government will bring forward a proposed Bill to make lease extensions easier and cheaper. Subject: Extension of maternity leave. Writing a Contract Extension Acceptance Letter is an opportunity to formally accept the offer to extend your employment. Valuer. Is the informal lease extension route-Brady solicitors? Brady. Here are some estimated costs to assist you in your conveyancing budget. Leasehold Renewal Process. Subject: Lease Extension (Relocation) Letter. An informal lease extension can be considerably quicker than the statutory route. Lease extension cost ranges from £3,600 to £6,598 for valuation and legal work, Your premium will be based on your valuation, You may also be liable to pay Stamp Duty, You'll have to pay a solicitor or licensed conveyancer to handle the transaction whether you take the informal or formal route. With an informal lease extension, the leaseholder and freeholder can agree on a premium, length of extension and the terms of the extended lease between them. Leaseholder’s Solicitors Fee – £500 to £800. 1. Most automaker finance units and third-party financial institutions will grant a one-time extension of a car lease past its end date by a fixed number of months (generally 12 or. [4] Georgia 60 Day Notice to Vacate. as textiles. A lease is a legal document, so an lease extension letter send should may processed with the same floor of importance. The letter have include: Your nominate, current address also contact informationKey takeaways: There are pros and cons to using lease renewal agreements and lease extensions. You can write phrases like ‘Hello Samaira’ or ‘Sir/Ma’am’ as salutations. This letter also contains the period of effectivity of the contract of agency between the principal and the agent. The document also includes an optional field for billing the overage directly to your tenant. Under the informal route, a leaseholder can approach the freeholder in the first instance and ask whether they’re interested in negotiating a lease extension, although there’s no obligation on the freeholder to agree to extend. To request a lease extension, submit one informal letter containing all the suitable details the landlord needs toward make a decision. The lease extension premium is shared between the head lease and the superior. A lease is, essentially, a long tenancy, a right to occupy the flat for a number of years (usually 99 or 125 years), often subject to payment of an annual ground rent. Lease extension costs. Although you don't end up using the word for word version, it's better than just starting from a blank paper. The initial term of the voucher will be 60 days. Rent can't be increased during a fixed term agreement unless a. This is a basic letter that can be used to request for an extension of the lease or the renewal of the lease. Here he turns his attention to the minefield of dealing with your freeholder to get a formal lease extension. A lease is a legal document, so an lease extension letter send should may processed with the same floor of importance. The informal lease extension may be a preferred option to those leaseholders who are short of liquid cash to pay for a premium set under a statutory lease extension It may be advantageous to continue paying the annual ground rent set out by an existing lease if it means paying substantially lower premium for a grant of a new lease. My leave expires on March 12. She owns the flat 100% with a mortgage but the block is owned by a housing assoc. [Landlord’s name] [Landlord’s address] [ Date] Dear [landlord’s name] I am the leaseholder of [ insert address of the flat] and I am writing to you to enquire. Thank you once again for your generosity. Application for Informal Lease Extension Quotation Address of property Name of Lessee Telephone (day) (evening) Email address Date of application We (the lessee of the above property) request you. It helps the landlord to set new terms, such as a change in the rental price, while also letting the tenant know if they can stay in the property for another year if they choose. The freeholder can also request all service charges and ground rent is paid. Once signed, the agreement is. We looked at your payment records carefully and have found that you are already overdue on your account and it has been [ length of time] since your last payment.