Freeholders and Developers
With property transactions in decline and equity margins being squeezed whether before or after a development's completion, if you own the freehold, whether retained by you as the developer or following an acquisition, the income from ground rents has the potential to be an excellent investment and very often a key source of turnover during these difficult times.
Related Services
To ensure you make the most of your freehold investment the credit control process is crucial. The realisation is that if ground rents are not paid on time not only are you able to recover interest in addition to the amount of the overdue ground rent following demand, but you are also able to claim administration charges in relation to the delayed payment pursuant to the additional time and expenditure spent on credit control.
We act for developers and freeholders around the country and are able to turn around the overdue charges quickly provided certain criteria are met.
We are an award winning debt recovery practice (Property Management Awards - Professional Services Firm of the Year 2009-10 and Finalist 2010-11). Our clients nominated us for this award primarily because we have been able to excel in turning around ground rents (and service charges) for a nationwide client base, quickly and efficiently and in almost every case at no cost to our clients as the vast majority of leases allow for all our costs to be paid by the late paying defaulting leaseholder. This means you can instruct us at no risk of costs to you as the freeholder. We also pay court issue fees on our client's behalf to ensure the process is relatively quick and seemless and does not overload you with requests for money.
"From the very beginning SLC Solicitors have been supportive and attentive to our requirements tailoring their service on a case by case basis to ensure that the best possible outcome is always achieved on our behalf".Freeholder, London
For those freeholders that need guidance on the process of demanding ground rents and credit control generally and also how our litigation service operates up to and including forfeiture of the lease we are able to provide training at clients' offices, as well as precedent documents in prescribed formats to ensure compliance with relevant legislation. We can also provide you with guidance notes and our e-bulletins that cover wide-ranging topics relating to property management, health and safety, insurance, credit control and many other topics.
For further information please contact our Operations Manager, Karen Bolland.
