THIS NOTICE IS ONLY REQUIRED FOR LONG LEASES – IT DOES NOT APPLY TO REGULAR ASSURED SHORTHOLD TENANCIES.
Freeholders of blocks of flats that are sold on long leases (greater than 21 years) from 1st October 2007 (England) and 30 November 2007 (Wales) are required to provide a summary of rights and obligations in the form of a notice typewritten in at least 10-pt. This prescribed form must accompany any demand for a service or administration charge.
Service charge means an amount payable by a tenant of a dwelling as part of or in addition to the rent which is payable, directly or indirectly, for
- insurance or
- the landlord’s costs of management, and
The whole or part of which varies or may vary according to the relevant costs. [section 18 Landlord and Tenant Act 1985]. “Costs” includes overheads [s.18(3)(a)].