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What is
Leasehold?
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With thanks to our friends at the 'Campaign for the
Abolition of Residential Leasehold'
(CARL) we make further comment on what 'Leasehold is and the mystique
that surrounds it. Quoting directly from their web site ... 'When you 'buy' a flat, you may think you own it, but that's far from the case. All you have bought is the right to occupy the flat for the number of years stated on the lease. You are merely a tenant for that period. And once the terms ends, it reverts to the landlord unless you are prepared to pay the landlord to extend it.
As a tenant you pay for the
upkeep of the building, but have little control over how it is done or
your money is spent. The freeholder and/or managing agent are responsible
for that. This puts them in a powerful position, and unfortunately there
many ruthless landlords who exploit this, and make leaseholders' lives an
expensive nightmare'. See 'Sinking Funds' for further explanation. We know that Orbit don't like being referred to as 'our' managing agent but that is exactly what they are, they like the title of 'Registered Social Landlord' but be under no illusion there is nothing 'social' about them, they are in this for the long term, as a business! The 'Campaign for the Abolition of Residential Leasehold' is an organisation dedicated to bring an end to this system that has been perpetuated by so called 'Social Landlords'. Understand what 'Leasehold is an you are some way in understanding the attitude of 'Social Landlords' and that includes ORBIT; and their stance with 'Leaseholders. The feudal system is alive and kicking in this year of our lord 2007. It is worth taking a look at the (CARL) web site and perhaps join their cause! |