The lease is a contract between Bron Afon and the leaseholder. It sets out the responsibilities and obligations of both Bron Afon and the leaseholder. The lease and the statutory provisions related to leases form the basis for most of our work with leaseholders. Both Bron Afon and the leaseholder have responsibility for compliance with the terms of the lease. A lease cannot be amended without the agreement of both Bron Afon and the leaseholder (and any mortgagee if the leaseholder has a mortgage that is secured on their property) or by an order of the Leasehold Valuation Tribunal.
The lease will include lots of information such as:
• Details of the responsibilities of both the leaseholder (lessee) and Bron Afon (lessor) to the property, the structure and the common parts;
• The items included in any service charge, how it is calculated and when
payment is due;
• Who is responsible for insuring the property and making payment for
insurance.