A leaseholder is someone who has bought their flat under the 'Right to Buy' scheme or has bought their flat on the open market from the previous owner.
The leaseholder will be required to pay ground rent, usually £10 per year. The usual period of the lease is 125 years from the original date the flat was bought under the 'Right to Buy' scheme.
This is a charge leaseholders pay towards the landlords cost of providing services, repairs, maintenance, insurance and management in relation to the building where the flat is situated.
Examples of service charges are communal TV aerial, lighting shared parts, door entry system and building insurance.
Find out more in the Paying Your Rent section of the website.
For more information on 'Right to Buy', please call your local Villages office.