How to Get a Lease Extension

The question of how to get a lease extension is one shrouded in mystery for many people, but extending the lease could be immensely beneficial if only people knew how to initiate the process and account for the costs involved. So this article breaks down the process step-by-step in order that you have all the key details you need to make an informed decision in the future.

If you have owned a property for more than two years, with a lease longer than 21 years (long lease), you may compel your landlord to grant you a lease extension. You can ask your landlord to extend the lease at any time.

Did you know this could give you an additional 90 years on top of your lease? That’s for a flat, whilst the figure for a house is 50 years as there are different rules for different types of property. And then, having been granted an extension, you will effectively have to pay no ground rent. This peppercorn ground rent, to all intents and purposes, means you pay nothing.

Does this sound too good to be true? Where is the catch and what are the costs? You can search for a lease extension calculator online to give you an estimate, but the costs depend on several variables such as the value of the property, the length of the lease, and the ground rent currently payable. In addition, the cost of extending a lease may double once marriage value comes into force i.e. if there are fewer than 80 years left on the lease. If a lease is approaching 80 years it is therefore vital that you commence the statutory process immediately in order to avoid the increased cost because the valuation date freezes when you start the legal process.

You will require surveyors to produce a lease extension valuation and negotiate the premium to be paid with the landlord’s representative. A solicitor will then be needed to draft a Section 42 claim notice which will be served on the landlord. The landlord may inspect the property to create his own valuation, then serve a counter offer. Terms of the new lease are then negotiated by the solicitors and, in the case of a dispute, either party can appeal to the First Tier Tribunal within 6 months of the counter notice. Terms are agreed, the new lease is signed and funds are transferred.

Why is the Land of the Maple Leaf the Best Place for Immigration?

Do you have a dream of migrating to a new country after finishing college? Do you ever picture yourself starting a new life with your family in a decent place? Are you one of those countless first time homebuyers who are searching for a good place to live? Or do you want to start a business venture with endless opportunities, but you don’t know a place to start?

If you are someone who relates to these questions, then you will definitely want to pack your bags, and search the internet looking for a top rated real estate in Canada.

According to a recent survey by U.S. News & World Report, the University of Pennsylvania’s Wharton School and Global Brand Consultants BAV Consulting who ranks 60 nations in the world, Canada ranks second best among the countries in the whole world.

Considering 75 factors such as travel and adventure experience, educational system, place for investments and business starting, citizenship, cultural and economic influence, entrepreneurship, sustainability and quality of life, Canada stood out with the other countries just falling short behind Germany.

You might be intrigued, and a lot of questions are running through your mind right now, and to kick start you to the beauty of the Land of the Maple Leaf, here are the reasons why Canada is the best place for immigration.

Education
Canada’s approach in education is very commendable. In Canada, primary and secondary educations are free and mandatory at the age of 5, and with Canada’s quality education, Canadian students score above average on OECD’s Programme for International Student Assessment, which is a testament to prestige educational system.

Health System
Canada has one of the finest health care systems in the world. Almost every community in the Canadian soil has its own hospitals, and most of its services are free of charge to Canadians who are under the National Health Insurance Program.

Beauty
Considered as one of the most beautiful places to travel and to live in, with its numerous eye capturing World Heritage Sights, its famous Niagara Falls, and its five advanced metropolitan areas which are namely Toronto, Montreal, Vancouver, Calgary, and Ottawa, which are well known for their culture, and diversity, Canada marks its presence to be the best for North America home owners.

Economy
Canada is a large technologically advanced country with a high standard of living, the entrepreneurship environment is considered stable, and if you want to start a business, it only takes less than two days and costs less than 1 percent of the average income per capita to start one. Canada also offers Self-Employed Persons Program and Start-up VISA for foreigners looking to build a business in the country.

The service sector is the country’s largest economic producer, but on the other hand, it also stands out in exporting goods such as energy, food, and minerals. Canada also ranks third in the world in oil reserves and it’s the world’s fifth-largest oil producer.

Beneficiaries
Canada is a country that cares for its residents. Canada offers several welfare programs, other benefits such as unemployment insurances, social welfare allowance, pension plan, old age pension, childcare benefit are only some of the numerous Canada offers for you.

Living in Canada is like living in a paradise, and if I were you, I will contact a real estate agent in Canada as soon as possible. You better save some money because Canada is so cool (well, literally)!

Gun Laws Must Change in the United States of America

As I write this the Democratic Senators are staging a sit in to bring about a filibuster in the seat of government in the United States while they demand a vote on the gun laws. It is a situation that has created a storm because right now a terrorist or suspected terrorist who cannot fly for that reason can still legally buy guns and carry out mass shootings. The recent slaughter of 49 people in the Orlando nightclub massacre has finally brought this issue to a head.

In Australia the last and worst massacre happened 20 years ago with the death of 35 people at Port Arthur, in Hobart. The Prime Minister acted instantly to ban semi-automatic weapons and to change the gun-laws. He recalled parliament to pass a law that only those with a need to own a gun or who are members of a registered gun club can legally own guns of any type while it is illegal for others to have one in their possession.

He organised a huge buy-back and weapons were handed and destroyed while people were compensated. This has prevented anything of the nature of a mass murder taking place. There was no hesitation as this country has not had the love of weapons that the American appear to enjoy.

While the residents of the United States appear to support the Second Amendment it is surely outdated as the situation has changed remarkably from the days of the pioneers and Indian uprisings. The number of people killed by guns in the United States is appalling and the rest of the world wonders at the refusal of some in power to allow legislation such as the Democrats are demanding by their action.

Isn’t it time that gun laws must change in the United States for sanity to prevail and for the safety of its citizens?