Frequently Asked Questions
What is ground rent?
If you live in a leasehold property you are liable under the terms of the lease to pay an annual ground rent to the freeholder. The freeholder owns the land and the property built on the land. As the leaseholder, you have the right to live at the property for the term of the lease, subject to payment of your ground rent and compliance with the other terms and conditions specified in your lease. Simarc Property Management has been appointed agent by a number of freeholders and deals with the collection of ground rent and all other associated matters.
Why is ground rent payable?
This information is set out in the lease to your property. Simarc Property Management will demand payment of the ground rent on behalf of the freeholder from you in accordance with the payment terms specified in the lease.
Will my ground rent increase?
Your lease may also specify that your ground rent is subject to periodic reviews. These may be fixed increases or increases linked to an index (such as RPI). If you require further information you should contact your solicitor.
How do I pay my ground rent?
There are a number of ways to pay your ground rent. You will be asked for your property reference number when paying your ground rent. Please make sure you have this to hand.
• Online using a credit or debit card.
• Using our 24hr automated telephone service, by dialling 0208 238 6380 and selecting option 1.
• By cheque/postal order made payable to Simarc Property Management Limited and addressed to Simarc Property Management Limited, Building 4, Imperial Place, Elstree Way, Borehamwood, Hertfordshire, WD6 1JN
Please note we do not accept payments by BACS or by standing order.
What is my property reference number?
Each property has a unique 3 to 6 digit reference number. Please quote this unique reference number on all correspondence.
How long does my lease last?
Each lease specifies a lease term, typically 99 years, 125 years or 999 years. The lease also specifies the date of commencement of the term. It is therefore relatively straightforward to calculate how many years are currently left on the lease. If you do not have a copy of your lease we may be able to provide you with a copy.
For further details please contact our dedicated team at firstname.lastname@example.org.
How do I obtain a copy of my lease?
If you do not have a copy of your lease we may be able to obtain a copy for you.
Should you require more information please contact our dedicated team at email@example.com
How do I extend the term of my lease?
Who deals with service charges?
We do not provide property maintenance services, but where the freeholder has the management obligation in the lease, we will appoint a managing agent to carry out the required property maintenance services. For further information please contact us at firstname.lastname@example.org
Who provides buildings insurance?
If you live in a flat your lease will specify whether the building is insured by the freeholder or by the residents’ management company. In either event you are liable to pay your share of the premium. This will be collected by either the freeholder’s insurance brokers or by the agent. For more information please contact the agent to whom you pay your service charge.
If you live in a house you will usually be responsible for the buildings insurance yourself.
For further information please contact our dedicated team at email@example.com
What should I do if I want to let my property?
Under the terms of the lease you may be required to notify the freeholder if you plan to let your property. For further information please click here.
Can I make alterations to my property?
Under the terms of the lease you may be required to notify the freeholder if you plan to make alterations to your property. For further information please click here.
How can I purchase the freehold of my property?
How do I register as the new owner with you?
Your solicitor should serve notice of assignment together with the requisite registration fee to the freeholder on completion of the purchase. You can download a copy of our 2-party or 3-party Deed of Covenant here. If you require any further details please contact our dedicated team at firstname.lastname@example.org.
What do I need to do if I’m selling my property?
Your solicitor may require rent information and confirmation that your account is up to date when selling your property.
For further details please contact our dedicated team at email@example.com