Common Misconceptions about Leasehold

30th May 2018

A lease is a legal term used in property law to describe a property contract:

So here are a few common misconceptions made when it comes to leasehold:

“You cant tell me what to do, I’ve brought the flat” 

You don’t own the bricks and mortar or land on which the property is built on, you’ve brought the right to live in the property and the lease will say what you can and can’t do in the flat; the conditions could include:

“I pay you £2,000 to manage my flat”

This is false. The amount of money that is paid to a managing out of the management fee is actually a very small amount of the service charge. The service charge is paid as an actual cost that is incurred from providing a service, meaning there is no profit made from it.

“I brought my flat so why should I pay service charges?” 

“It’s only a parking space, why’s there a service charge?”

Communal living includes collective responsibility for shared costs. Car parks require maintenance over the long term and often have common features of flats, for example:


There are many misconceptions that can be made by a person who is just about to buy/has recently purchased a property but it is always good to make sure that you ask all of the relevant questions when you don’t fully understand a term, otherwise you might never really know what you can and can’t do in the property you’ve purchased.

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