Freehold Houses – Common Questions
What is Freehold Ownership?
- Freehold house ownership is when you own your property outright.
If I own my property why do I have to pay a Service/Maintenance Charge?
- Sometimes a property may be part of a larger development where the owners share maintenance responsibilities for common areas, footpaths, even roadways.
- In cases such as this it is likely that the situation came about on account of requirements placed on the developer by the local authority as regards ongoing maintenance of common areas that might otherwise been adopted and maintained by the local authority.
Even though I own my property I have to pay a Rent Charge. What is that?
- A Rent Charge is a charge placed on a freehold property. It may also be known as a Chief Rent. The amount of the Rent Charge payable will be set out in the conveyance (the document that records your ownership). That same document may also set out certain conditions placed upon you, known as the Covenants.