Management company - leasehold questionnaire and documents to be supplied

Transcription

1 Management company - leasehold questionnaire and documents to be supplied Section A:DOCUMENTS for you to SUPPLY A.1 Accounts A.1 Please provide Copy of the last 3 Years Accounts: A.2 Service charge Please provide up-to-date & clear RECIEPTs for payments of: i) Service Charge (including all payments due under the lease); ii) Building insurance and A2.b Grount rent Please provide up to date clear Ground Rent Receipt A.3 Insurance Copy of the Block Building Insurance SCHEDULE & policy A.4 Fire report & certificate A.4.1 Are there common parts within the building? A.4.2 Is there communal area within the building? A.4.3 Do you have an FIRE Risk Assessment (please attach) A.4.4 If not, provide letter from the insurers to confirm that lack of Certificate will not affect their insurance policy & will not affect any claim on the policy. A.5 Asbestos certificate A.6 Management company Do you have an ASBESTOS CERTIFICATE (please attach) If not, please provide letter from the insurers to confirm that lack of Certificate will not affect claim and/ or their insurance policy. A6.1 Is there a MANAGEMENT COMPANY NAMED IN THE LEASE, if yes attach A6.2 Articles and Memorandum of Association A6.3 Provide name & address for service on Management Company A6.4 Is any other Management Company other than named in the lease A6.5 Do you know of any risk of Management changing in future

2 B: APPORTIONMENTS Service Charges, Rent and Insurance REPLY SERVICE CHARGES: What is total Annual Service Charges payable? Date payable from? Date payable to? Were service charges paid in advance? Are there arrears of service charges; if yes, then how much in arrears? Is there risk of total annual charges in this accounting year, if yes, how much? 1.7 Is Building Insurance included in the Service Charge? 2 If Building Insurance is paid separately 2.1 What is annual insurance premium 2.2 Payable From? 2.3 Payable To? 2.4 Was insurance paid in advance? 3 Is RENT payable? 3.1 What is annual Rent payable? 3.2 Date Payable from? 3.3 Date Payable to? 3.4 Was rent paid in Advance? 3.5: Are there any arrears, if so, how much Section C RETENTIONS REPLY 4.1 BALANCING CHARGE-RETENTIONS Have you (in any of the last 3 previous accounting years) ever requested a balancing charge after filing of audited accounts. Note: If you do not reply we will assume you have not; and therefore you do not advise the buyer to ask for retention. 4.2 UNBILLED EXPENSES-RETENTIONS Do you advise a Retention for service charges (eg: for works or expenses {incurred or planned}; but which have not yet been billed). If yes, how much? Note: If you do not reply we will assume you have not; and therefore you do not advise the buyer to ask for retention.

3 Section D: FUTURE EXPENSES 5 Next Year Service Charges: Attach Next Accounting year Estimate for Service & Management charges. Note: If you do not attach then we will assume you do not have estimate. 6 A: Is there a Sinking Fund for non-annual items of expenses (eg roofs, boilers, lifts etc)? B: Is there a Reserve Fund (eg to meet recurring expenditure such as redecorating)? C: If yes to Sinking and/ or Reserve fund please confirm: i) How much currently in the fund/s ; ii) Next payment due date to the fund/s; iii) amount estimated due on next date. D: If yes, please state how much is currently in the fund/s Note: If you do not reply we will assume you there is neither a Sinking or Reserve fund 7 S.20 MAJOR WORKS: Risk of Future Works 7.1: Do you foresee any increase in level of service charge (including expenditure for major works) in the reasonable foreseeable future (eg for redecoration for common parts, roof & other maintenance {including external and internal works} etc); 7.2 If you answer yes to 7.1 then please reply as follows: i. Date proposed? ii: What works are proposed? iii: What is the total for the entire block iv: What is the cost allocated to this particular property. SECTION E- LANDLORD NOTICES -Alienation Clauses required to allow Assignment of Lease REPLY 8 NOTICE OF ASSIGNMENT 8.1-Is Landlord s Licence to Assign required to the assignment of the Lease to the Buyer 8.2-Fee payable for registration ; 8.3-On whom to serve Notice of Assignment? 9 DEED OF COVENANT 9.1 Is the buyer required to enter into a Deed of Covenant? If yes, please provide: 9.2. Send Draft Deed of Covenant; 9.3 Fee for Receipting the Deed of Covenant, 9.4 On who to serve Deed on?

4 10 SHARE CERTIFICATE (ltd by shares) or MEMBERSHIP CERTIFICATE (if ltd by Guarantee): 10.1 Do you need a Share Certificate & Stock Transfer Form (if ltd by shares) or 10.2 Do you need Membership Certificate (if ltd by Guarantee)? 10.3 Fee payable? 10.4 To whom send Certificate? 10.5 LOST SHARE CERTIFICATE: If Seller has Lost or Misplaced Share Certificate, advise a) Cost b) Procedure for you to issue the buyer with a new Share Certificate on completion? 11 Consent-LICENCE TO ASSIGN 11.1 Does Landlord need a Licence to Assign for the Lease to assigned to the Buyer 11.2: if yes, please send Draft Licence to Assign 11.3: Confirm all fees for the preparation and issue of the Licence 11.4: Confirm procedures to follow for you to issue Licence to Assign, including on all conditions for you to issue and on whom to serve draft licence. 12 CERTIFICATE OF COMPLIENCE: 12.1: Do you need a Certificate of Compliance or confirmation notice that a formality to remove HMLR Restriction has been complied with? If yes then, 12.2: Send Draft Notice of Compliance? 12.3 Fee for Notice of Compliance? 12.4 On whom the Notice should be sent to? 12.5 Any other requirements for you to issue notice? 13 Any OTHER REGISTRATION of Lease FORMALITIES Are there any other Landlord and/ or Management Company registration formalities and / or fees required? if so please provide details of other formalities and fees. Note: If you do not reply we will assume no other registration formalities exist. 14 Your RECEIPTS of NOTICES: a) Confirm you will receipt Notice of Assignment/Charge and deal with any other Leasehold Formalities even if payments due under the lease (either in the current year or future accounting year) are not yet paid in full. Note: If you do not reply we will assume you will. b) If you reply that you will not receipt until full payments are made, then confirm how much needs to be paid for you deal with leasehold formalities including receipt of notices

5 Section F: LANDLORD CONSENTS 15 CONSENT TO ALTERATIONS: 15.1: Are you aware of any Alterations having taken place at the property and 15.2 If yes, describe the Alterations and 15.3 Confirm that consent for alterations was obtained for alterations. 16 CONSENT TO LET (BUY to LET) Please confirm that letting is permitted under the terms of the Lease (ie If the proposed Purchaser intends to Let the Property) 17 CONSENT IF there is a BREACH of COVENANT: 17.1 Please confirm that all Covenants in the Lease were observed. If you do not reply we assume all covenants have been observed; 17.2 If any covenants not observed (breached etc.) provide written retrospective consent. Section G: GENERAL ADDITIONAL QUESTIONS 18 BUILDING INSURANCE Please 18.1 Confirm the amount the specific property is insured for; If not known, then please confirm : The amount the entire block is insured for? How many flats are there in the block? 18.2 The buyer and their lender s name will be noted on the policy 18.3 That the insurance cover is index linked 18.4 Please confirm that all the following risks are covered in the insurance policy: Subsidence, Heave, Landslip, Fire, Flood, Demolition and site clearance costs; Public liability to anyone else; Accidental damage to underground services, Aircraft crash, Collision, Explosion, Earthquake, Escape of water or oil, Falling trees and branched and aerials, Lighting, Malicious Damage, Theft or attempted theft, Riot, Storm, Professional Fees, and that (in any event) the policy complies with the current requirements of the CML handbook.

6 19 FLATS WITHIN BUILDING (Information for Insurance, Tenant Repair) 19.1 How many flats are there in the building? (to calculate reinstatement value re block policy & for Tenant Insure & Repair Cov) Are the other leases in block in substantially similar form? {for Tenant Repair-Cov} 19.3 If not, in what respect do they differ? for Tenant Repair-Cov} 20 REGULATIONS: Please provide details of any Management and/ or Landlord Regulations which are in addition to the tenant s covenants and/ or Regulations set out in the Lease. Note: If you do not reply we will assume there are no other regulations that affect the lease. 21 Any OTHER MANAGEMENT INFORMATION: Is there any other Management information which you think may be relevant to the buyer? Note: If you do not reply we will assume there is no other relevant information. Note: If you do not reply we will assume there are no disputes, complaints or problems. 22 INTEREST IN THE FREEHOLD: Please confirm if the Seller has any interest in the Freehold (either by way of formal ownership in the deeds or by way of share) 23 LEASE EXTENSIONS 22.a) Please confirm if the Landlord is willing to grant a lease extension and if so; 22.b) At what price 24 ENFRANCHISEMENT: Are more than two thirds of the flats sublet on short-term lettings and if so, is the Property registered as a house in Multiple Occupation? If you do not reply, we will assume No. 25 QUITE ENJOYMENT: Please confirm that there have been no disputes, complaints or problems with a) the tenant or b) the Flat or c) with any other Tenants in the Property which might affect the buyer s quiet enjoyment of the building? Note: If you do not reply we will assume there are no disputes, complaints or problems.

7 26 ANNUAL ACCOUNTS a: Please state the date on which the last accounting year ended. b: Are accounts payable annually? c: If accounts (as opposed to requests for estimated payments on account) are not prepared annually, please state how frequently accounts are prepared (e.g. monthly, quarterly, etc.) 27 MANAGEMENT COMPANY & LANDLORD Please provide: a): full name and b): full Address of the Management Company & Landlord Signed Print name Position (Signed by or on behalf of the Management Company of the above property): Date: