Definition of a leaseholder
What it means to be a leaseholder or shared ownership leaseholder, and terms and conditions of the lease.
What is a leaseholder?
As a leaseholder, it is important that you understand and comply with the terms and conditions of your lease.
A leaseholder is a tenant who has signed a particular type of tenancy agreement, called a lease. This means that a leaseholder does not actually own the property they occupy, but is renting it on a long lease for 99 or 125 years. This gives them more security of tenure than renting privately on a standard tenancy.
A leaseholder does not own the building in which their flat is located. This is owned by the Landlord. The maintenance and management of the Landlord's property is funded by the leaseholders through the service charge.
Terms and conditions of the lease
A leaseholder has the exclusive right to occupy their property, but this is subject to certain terms and conditions that are set out in the lease.
Shared ownership leaseholders
If you have become a leaseholder through shared ownership, you will have to pay rent on the proportion of the property you do not own.
The rent you pay for your home does not cover any services provided to you or the building. All of this is paid for separately through your service charge.
If you would like more information about any of this, please speak to your Property Management Officer. If you do not know who your Property Management Officer is, or do not have their contact details, you can find out instantly by typing your postcode into the simple form on the Property Management Officer finder page.