Ask The Experts

Firstly check that your lease allows you to sub-let; you may need to get the landlord’s consent.  You will also likely need to get permission from your lender if you have a mortgage on your property. The most common type of tenancy is an Assured Shorthold Tenancy (AST), it would usually be for a fixed term such as 6 or 12 months.

Leaseholders have the legal right to collectively buy the freehold of their building if they meet the required qualifying criteria; this is called “collective enfranchisement”. It is also possible for leaseholders to negotiate informally with the freeholder to buy the freehold by agreement.  It can be a bit of a process, so you should think about getting professional help.

You have the right to add 90 years to what is left on your existing lease term at a “peppercorn” rent (no ground rent is paid); the landlord is entitled to receive a premium for this which is calculated on a set formula. Alternatively, you may be able to negotiate a lease extension with your landlord on whatever terms you can agree. Lease extensions can be a complicated process so you might want to seek professional help enquiries@startleaseextensions.co.uk