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When carrying out construction work on your property, there’s always a risk of damage to a neighbour’s property – especially in terraced and semi-detached properties. To help reduce liability and scope for neighbour disputes, it’s well worth investing in a pre-building Schedule of Condition report before work starts. What is a Schedule of Condition? The…

It’s typical for a lease to set out certain obligations for the tenant in terms of keeping the property in a good state of repair. When a tenant is in breach of these requirements – perhaps by neglecting maintenance or misusing the property in some way – the landlord may issue a Schedule of Dilapidations….

If you’re buying a house or flat, you might be thinking of getting a Home Buyer Report. This inspection report looks at the property’s structure and overall condition, highlighting whether there are any major problems with the property. The Home Buyer Report tends to be the preferred inspection report for UK buyers, but it’s not…

If you lease a commercial property, you’ll know that some landlords may inflate a property’s rental value and charge more than the property is really worth. But did you know that there’s a formal way to challenge the landlord’s proposed rent and ensure you’re paying a fair market rent? That formal process is known as…

In our experience, many commercial landlords forget about doing a regular rent review. It’s an easy thing to overlook – particularly when a property is being leased to a stable, long-term tenant – but neglecting the rent review can cost you money in the long term. What’s involved in a commercial rent review? In simple…

Professionals who assess the value of properties and land have to work within strict professional standards set by RICS, the Royal Institution of Chartered Surveyors – and the publication that covers these valuation standards is known in the industry as the ‘Red Book’. So if you’ve ever heard a surveyor talk about the Red Book,…

If you’re selling a property that’s not your main home, you may have to pay Capital Gains Tax (CGT) on the sale. But did you know that getting a professional valuation could help to reduce your CGT bill, especially if you’ve owned the property for a long time? What is Capital Gains Tax? CGT is…

The market for acquiring short lease flats has always been strong, with investors and developers seeking to acquire short leaseholds, to refurbish and to obtain a lease extension. In this blog we look at the methods of valuing a short lease, in respect of obtaining a statutory lease extension. Lease Valuation Method for Properties The…

If you own a leasehold flat, when was the last time you thought about the length of your lease? Many leaseholders don’t think twice about their lease until they come to sell the property – at which point, they may find that a short lease makes it harder to sell or achieve the price they…

Lease Extension in London Earlier this year Perry Hill were instructed to carry out a lease extension in Isleworth for the leaseholder. Below we explain how Perry Hill was able to save the client a total of £25,000 for a statutory 90 year lease extension at nil ground rent. Selling Property with a Short Lease…