December is a hefty ground rent demand period for many landlords and property managers, with the majority falling due on either the 25th December or 1st of January. Make sure your demands reflect the recent changes to the FTT (formerly LVT).
Freeholders will ideally want to be issuing ground rent demands this week (27 November) to give leaseholders a four-week settlement period.
To help ensure the usual swift and speedy settlement of ground rent payments by your leaseholders, your demands must reflect the recent changes to the Leasehold Valuation Tribunal, which, on 1st July 2013 became the First-tier Tribunal (Property Chamber).
It’s a quick and easy change to make, simply replace ‘at a Leasehold Valuation Tribunal’ with ‘at a Tribunal’ in the second paragraph of the Notes for Leaseholders section of the ground rent demand.
For help with either issuing ground rent demands or recovering ground rent arrears please contact us on 0115 985 3450 or by email.