, 1-year), click here. Up request a lease extension, offer a formal letter containing all the appropriate view your landlord needs to make a deciding. Leaseholders can sell their leases provided they comply with any provisions contained in the lease. How Starck Uberoi can help. Yours sincerely, John Smith. Size: 43 kB. Download and use this template to write a letter to the lessor asking to extend your lease. March 2016. 9k views [Recipient’s Name] [Recipient’s Address] [City, State ZIP Code] Sweetheart [Recipient’s Name], I am writing to getting an extension on the [Project Name], which be due on [Due Date]. Sweetheart [Tenant’s Name], I hope is letter finds you in good health and spirits. June 2016 (updated February 2023) enfranchisement provides a flat owner with the opport y to extend the term of their . Leaseholder’s Solicitors Fee – £500 to £800. Sample Lease Renewal Letter. Dear Name of Landlord: This letter is a formal request to renew the lease on the property at the above address for another year. Attach any documents or evidence you may need to support your request. RE: Lease Extension. Latest Compliance Form Updates. e. Step 2 – Give the Tenant a Rental Application Form to Fill Out. [Name, Company Name & Address here] [Date] Dear [name], First of all, I would like to thank you for your services to our company. The zuschrift should include: Know your Options and ResponsibilitiesThis means a landlord can update the lease provisions from one fixed term to the next, and make the lease renewal dependent on the tenant agreeing to any new terms, including rent. The lease expires on DATE and I would like to renew it until DATE. Failure to give this notice may mean the lease converts into a month-to-month tenancy when it expires. Rental and Lease Agreement Templates. The informal route is where the leasehold er simply contacts their landlord (usually the freeholder) to try and negotiate a lease extension. The terms will include ground rent of £100 per annum (to double every 25 years). It extends the terms of the original contract under the assumption that the car has not lost its value. Give one of our expert team a call today to explain how you can still begin the process and protect and maximise the property’s value. often for 99 or 125 year lease. The cost of lease extensions varies considerably but the following table shows estimates of the costs. Financial trouble. Whereas the informal route, whilst it may be cheaper in the short run, you may have increased ground rent and the extension period on offer may only be another 30odd years to take the lease back up to 99 years. Renewal of license: To extend a licensing agreement. You can position the date at the top left of the letter or after the recipient's address. Does it matter? In this feature, Linz Darlington, MD of Homehold, explains what you need to know when it comes to formal v informal lease extensions. A standard residential lease agreement (or “rental agreement”) is a contract for a tenant to use a landlord’s residential property in exchange for paying rent. Comparing lease extension against Re-leasing. Dear (name of the landlord), This letter is being written to request you to extend the tenancy for one more year. They can be contributed by sending to editor@armywriter. It will also set out the level in which a section 42 notice should be served upon the landlord. This addendum may be used to extend an expiring lease in order to keep a tenant that is renting commercial or residential property. Leaseholders have a legal right for a lease extension of an additional 90 years with zero ground rent. [Landlord’s name] [Landlord’s address] [ Date] Dear [landlord’s name] I am the leaseholder of [ insert address of the flat] and I am writing to you to enquire about extending the lease of my flat. [Landlord’s name] [Landlord’s address] [ Date] Dear [landlord’s name] I am the leaseholder of [ insert address of the flat] and I am writing to you to enquire. L&Q are the freeholder of your property, and we are proud to be able to offer you a 990 year lease extension, inclusive of your existing lease term, with a ground rent of a peppercorn (£0). Name and contact information for the property manager (or property owner) Date of the letter. Tenancy Services - Doing changes to an tenancy agreement. U. You can address the recipient by their name as well. Extension costs and added value from Homehold, based on Upper Tribunal guidance. This rental agreement letter is written between George Robert (landlord) and William Frank (lessee) for the apartment located at 567- White road North Ohio. This means that the buyer will. 39. Mumbai, India. Second Paragraph. The letter should include: Choose company, current address or contact informationFree Tenant's Lease Renew Letter Samples: Save Time and Hassle - RequestLetters. Name of Landlord. It helps the landlord to set new terms, such as a change in the rental price, while also letting the tenant know if they can stay in the property for another year if they choose. Call to get a quote 0333 344. To end a lease agreement, you must send a tenant written notice to terminate the tenancy. Rental and Lease Agreement Templates. Step 2: Decide on. You will find that like your original finance documents a formal extension will have a set monthly rental payment, an agreed-upon mileage allowance and be for a set period of time. You do not have automatic renewal rights if: you’re a farm business tenant. net's Free Renewal Letter Templates in PDF. A your may want the member up renew an lease because he or she has always paid the rent on time, keep the objekt in good conditioning and has good tenants includes. RE: Lease Extension. The original contract must be followed when making monthly payments. Whilst informal lease extensions may not be right for every situation, they remain a viable option for tenants looking for some flexibility when extending their lease. The form of new lease is regulated and the landlord’s mandate to increase future revenue streams is curtailed. Contract Extension Letter: 4 Templates. Unlike a lease. ”. The actual time it takes to extend your. Tribunal judge Nicholas Nicol rejected the claim of Mr Moskovitz and his appointed block manager Yaron Hazan, of Y and Y Management, that the anarchic situation at the Bridge Court car park, which endured for nine years, resulted from the behaviour of difficult leaseholders, their rental tenants or the supposedly downmarket nature of the. Although you don't end up using the word for word version, it's better than just starting from a blank paper. When writing a rent increase letter, be sure to include:. Dear [Name],). you’re on fixed-term tenancy of 6. Terminate the letter with a polite and professional sign-off. Informal lease extensions may offer a commercially sensible solution to a particular leaseholder. How to Renew a Lease (4 steps) 1. Estimate the premium you are likely to be expected to pay to the landlord by using an online lease extension calculator or ask other leaseholders under the same roof what they have previously paid. A landlord can propose a rent increase when a new lease agreement is due to be signed or after the original lease has ended and the tenant agrees to an extension under new terms. Thank you once again for your generosity. The lease on my premise expires on the (Date of expiration of the lease), and I would like to renew it until (Renewal of the lease date). The reason behind the same is that, _____ (I am looking forward to shifting to some other place/ I am moving back to the hometown/ any other reason). Date the Increase takes effect. A reference to (or copy of) the original lease. The document also includes an optional field for billing the overage directly to your tenant. We have created a template letter that you can send to your freeholder to enquire about an informal lease extension. Alternatively, if you are able to negotiate an informal lease extension with the freeholder, our legal fees are generally around £1,250 plus disbursements for such matters. Date of Amendment: MM / DD / YYYY. Lease Extension Request for [Rental Address] Dear [Landlord’s Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. But to do so – in practice – you need to have staircased your flat to 100%. Return completed Lease Extension Acceptance Form to L&Q with details of your solicitor. A lease only provides the right to use or possess the property, unlike the. docx) Request for Immunization Exemption. . How to write an informal lease extension enquiry. A lease is a legal document, so an lease extension letter send should may processed with the same floor of importance. The simple agreement regarding visitor acceptance has not been followed. A property with a low lease shouldn’t put you off buying it or selling it. Depending on your level of friendship, you may choose to use the word dear or another type of greeting. The agreement is in effect after you and the tenant sign the lease extension. In fact, freeholders will soon likely be legally obliged to reduce ground rents to zero in lease extensions anyway. Save money not paying for the formal route's Section 42 Notice. If you agree to the terms of the lease extension, then by all means you can stay longer in the property you're renting at the moment. signNow has paid close attention to iOS users and developed an application just for them. Formal lease extensions. Leasehold owners wishing to extend the lease on their residential property have statutory rights under the Leasehold Reform and Urban Development Act 1993. In this particular lease renewal letter, the landlord has laid out different options that the tenant can use if he wishes to keep on leasing there. The formal route. Standard. e. ( 2) Lease term and renewal. If the freeholder agrees then both parties will have to negotiate. Our experienced lease extension solicitors will deal with your matter efficiently, and negotiate to ensure you get the best possible premium. Here he turns his attention to the minefield of dealing with your freeholder to get a formal lease extension. 6 / 5 Based on 1899 reviews. Get in touch today on 0161 696 6187. If you have staircased to 100%, the normal statutory rules apply and you can extend formally. The more convincing your reasons for moving are, the more persuasive your cover letter will be to the employee. Lease Extension Request for [Rental Address] Dear [Landlord's Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. Amount of the rent increase. There’s no “perfect” way to draft a rent increase letter, but it typically contains the following details: Date of the rent increase letter. Lease renewal agreements help. Your monthly rent will be [AMOUNT] per month. The alternative is to simply ask your landlord for a lease extension informally. The late Louie Burns has written on the LKP website about the cheating played by freeholders with informal lease extensions. [Add this if the premium offered has been derived from an official RICS Valuer's lease extension valuation:] I appointed [name of RICS . Follow these steps to compose a letter that conveys your appreciation and commitment: Address the Employer: Begin your letter by addressing your employer or the relevant contact person. DOC Create Document. Request Letter for Extension of Agreement – Sample Letter for Rent Agreement Extension. Step 1 – Inform the freeholder of your desire to extend the lease and that you will be pursuing the statutory route. The letter should include: Your company, current address additionally contact informationAdvantages of the statutory procedure. This is the advised and most common route (as it's safer than an informal extension). For example, if you have 70 years now, you’ll have 160 years. To request a tenancy extension, submit a informal letter containing all which relevant details your landlord. Leasehold means you have a lease from the freeholder to use the home for a set number of years. Length of the lease extension, including the proposed end date. Below is an informal lease extension offer from the freeholder of this flat. The deceased would be a qualifying tenant, if their lease was more than 21 years when originally granted and they had been the registered owner of the flat for 2 years before. Date first new rent payment will be due. Depending on the landlord’s preference, a simple lease renewal may be sent to the tenant or the landlord may decide to re-write an entirely new lease agreement to the tenant. City, State, Zip Code. as textiles. Share of freeholders can extend the lease to 999 years for zero premium. Ref: Lease agreement, 10/08/2020. We need more memorandum examples and templates. Statutory Route Lease Extensions The statutory lease extension process. A lease is a legal copy, so one lease expansion letter request need be treats with the equal leve of importance. A lease is ampere legal document, so a tenancy extension letter request must be treated with the same level of importance. If you are purchasing, and the lease needs extending, it is possible for the seller (if they have owned the lease for at least 2 years) to start the lease extension process and give the buyer the right to extend (assign the benefit of the notice). 41. £20-£45. Reasons for extension. Date the letter was written. 12 July 2020 at 9:06PM. Once a tenant’s lease lives coming toward an end a lease extension letter can be sent by whether this tenant button an landlord to request that steps become caught to renew the lease. Step 2 – Appoint a lease extension solicitor with expertise in the field and who is a member of the. 1. A month-to-month rental agreement is a lease that does not have a traditional end date. If your lease has 83 years left, it's time to really start looking seriously into this. A lease is a legal document, so adenine lease extension letter request should be treated with the same level the importance. Close with a polite and professional sign-off. Click 'Generate'. Date the lease extension request is submitted. If you need to expand to a full three paragraphs, simply separate the introduction, body, and conclusion. The right to extend a lease on a flat gives an owner the right to add 90 years to the current unexpired term, and also to change the current rent to a ‘peppercorn rent’ (which is in essence. , 6-12 months. Step 2: Decide on New Terms Determine the new rent amount, lease duration, and any other changes. Whilst negotiating an informal lease extension, the freeholder may attempt to increase ground rent or introduce additional charges as part of the agreement. The Leasehold Reform (Ground Rent) Act 2022 comes into force on 30 June 2022, which means ground rent changes and also lease extension changes, Brady Solicitors explains the impact below. Memorandum Templates & Examples. Valuer. 9090 Old Church Way. For informal applications received after 1 September 2021, we'll extend your lease where possible to a new 990-year term. A lease is, essentially, a long tenancy, a right to occupy the flat for a number of years (usually 99 or 125 years), often subject to payment of an annual ground rent. Most states. My lease on my property expires on (mention the Date of lease expiry), and I would want to renew it until (Renewal of lease date). Modify the sample letter language for warning mature to an PCS move. com. A lease extension agreement, or ‘ lease renewal ‘, allows a landlord and tenant to extend a lease agreement to extend beyond its end date. Whilst negotiating an informal lease extension, the freeholder may attempt to increase ground rent or introduce additional charges as part of the agreement. This form helps the landlord screen the tenant, and it includes information such as the applicant’s: Name. Currently, the lease is set to expire on [date]. How to write an informal lease extension enquiry letter. Provided the tenant meets the elibibility criteria, they have a legal right to renew their lease (extend the number of years remaining). the freeholder has 'informally' offered a price for a lease extension to 125 years with a £150 ground rent. Please include: Your vehicle registration number. Write the lease date and the names of the tenants who signed the lease. , Washington, DC 20410 T: 202-708-1112Letter of Notification of Filming Sample. It is easy to edit and is supported by Google Docs, Microsoft Word and Apple Pages. You can agree a more favourable informal deal with your freeholder. I would like to amend that date to end on [new date]. There are 6 steps in the lease extension process: Step 1 – Inform the freeholder of your desire to extend the lease and that you will be pursuing the statutory route. Step 2 – Appoint a lease extension solicitor with expertise in the field and who is a member of the Association of Lease Extension Practitioners (ALEP). Please note all fees are approximate. Waiver Letter. I look forward to continuing to rent from you and thank you again for your help. Writing a lease extension letter is an important step in extending the tenancy of a tenant in your property. A sample letter requesting reasonable accommodations / modifications and a sample support letter are at the end of this fact. Most share of freehold property owners will extend their lease by way of an informal lease extension, which means they will agree on the length, premium and terms of their lease extension with the other freeholders. , a fixed-term lease or a month-to-month lease. As many of you know, the process of acquiring a student visa (F-1 visa) to the United States is nerve-racking for Indian families. This agreement will tie you into an agreed period past your contract end date, normally for either 6, 9 or 12-months. Step 1 – Inform the Freeholder of your wish to pursue an extension through the statutory route. Sample – Non-Renewal Lease Letter. However, some rental agreements require more or less notification, so always check your lease. Use our template informal lease extension letter The valuation letter should include the premium you are offering for the number of years you want to. The letter should insert: Lease Extension Agreement1. Informal lease extension process. State the Purpose: Clearly state the purpose of your letter – that you are requesting an extension of time to complete a. This notice is more informal than an eviction. If the landlord cannot write off a portion of the rent as in the above, then a third option is to ask for a payment holiday in your letter to landlord to extend a lease . It should state the acknowledgment letter for receiving documents or product received. There is a slight difference in meaning. A reference to (or copy of) the original lease. Template 1 - Letter to landlord asking for insurance summary. Provide a Reason. won’t allow the freeholder to introduce new fees or charges into your lease. Subject: Lease Extension Letter. First, as the sender, type your full name and address aligned to the left side, just as you would when addressing an envelope. The letter should include: Your name, actual address and contact. Name and information of the tenant and landlord. For example, “I am on leave for 10 days from [start date] to [end date]”. The. This gives your landlord enough notice so that when they detect the next tenant, they can set their move-in date for when you’ve already left. 1. , 60 days] notice of our intent to renew. We are happy to offer to extend your lease back up to 99 years for the inclusive price of £10,200 and our total legal and valuation fees will be an additional £1,000 pus VAT. Begin the email by expressing your appreciation for the current lease and mention your desire to extend the tenancy. For more information please visit our Conveyancing page. Using Jotform’s PDF Editor, you can modify any letter template to perfectly match your needs. No such eligibility criteria apply for informal lease extensions. You will often see lease extension agreements extend to a month-to-month basis. Timing is everything. Re-leasing is formal, and the leasing company should draft a new contract. In commercial property rentals, a lease extension agreement allows the business to remain in operation on the property after the original assignment of lease . Date the rent increase will take effect. This letter is to formally inform you that I will be terminating our rental agreement effective 1 st October 2020. Historically, some leaseholders have. Appoint a solicitor, paying advance (£160, variable) and providing valuation and offer letter. This is relatively simple but can be time-consuming. Marriage value is the amount of extra value a lease extension would add to your property. Here is a step-by-step guide on how to write a lease extension letter. The lease explains the rules for living in your unit. Download: PDF | Word. Informal Car Lease Extension An informal extension is often a temporary measure that helps smooth out the transition between one lease and another. A Georgia 60 Day Notice to Vacate is lease termination letter written to terminate a month-to-month lease. uk. The current value is £150,000, and the improved value following the lease extension is £165,000. I contacted the neighbour and he told me ground rent was – £270 p/a fixed until 2034. The address of the rental property and unit number, if applicable. The statutory process requires serving notices, obtaining a valuation, and potentially going through the First-tier Tribunal (Property Chamber) if an agreement cannot be reached, which can take many months or even years. At about 60 years, the cost of extending the lease increases by about 1% of the value of the property each year – i. The lease on my premise expires on the 31st of March 2012, and I would like to renew it until 31st March, 2015. When you’re writing a lease renewal letter, you should include: The names and contact information for the landlord and tenant. S. The lease extension will grant you the additional 90 years on top of the unexpired. Leave three to four lines blank below the “Sincerely. Date letter is written. . Contact the freeholder to request a lease extension. Informal lease extensions, on the other. e. To request a lease extension, submit a informal letter containing all the pending details your landlord requires on make a final. The letter should include: Your name, actual meet and ask informationLouie Burns, of Leasehold Solutions, has written on the LKP website about the cheating played by freeholders with informal lease extensions. Lease Extension Request for [Rental Address] Dear [Landlord's Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. Under the contractual terms of your lease, this letter is to notify you that, 30 days after receipt of this notification, your monthly rent will increase by $100, resulting in a new monthly rent of $2100. half of the marriage value (£8,474 ÷ 2) = £4,237. Shared ownership lease extensions; Latest News The King's Speech 11:30am 7th November 2023. The first is to serve a notice claiming your legal right, known as a statutory or formal lease extension. A tenant notice to vacate letter is a legal document a tenant sends to a landlord to inform of a plan to move out of an apartment, condo, house, or another rental residence. The longer the span of the term, the lower the total price gets. Rent can't be increased during a fixed term agreement unless a. Renew Employment Contract Extension, Employee Contract, Tenancy Contract, Landlord Tenant Agreement, or Rental Lease Contract with Template. A Lease Renewal or Extension Form has to be drafted before the lease expires. Application for Informal Lease Extension Quotation Flats Address of property Name of Lessee Telephone (day) (evening) Email address Date of application We (the lessee of the above property) requestStatutory lease extensions. 1. Our rent increase notice template can help you put together a notice for your tenants that’s easy to understand. 0800 098 2770. The agreed terms usually differ in that the number of added years is less (than +90) and commonly the ground rent remains, or even increases. Note: For fixed term leases in North Carolina (i. The legislation was introduced to balance the bargaining. If you wish to obtain some free and impartial advice on your property, either email or call us on 020 7183 2578. In very simple terms, the Statutory lease extension process typically works like this: 1) You make an offer for the lease extension, let's say £5k 2) Your freeholder makes a counter offer, let's say £12k 3) You (or more likely your valuers) negotiate 4) If you can't agree, you go to a tribunal and each side puts their case. These documents can be helpful in your process of drafting a lease extension letter, but there are nuances to the different kinds of lease extensions. With an informal lease extension, the leaseholder and freeholder can agree on a premium, length of extension and the terms of the extended lease between them. Leasehold Renewal Process. There’s no. Lease Extension - Informal Vs Formal Route . But I guess there's no harm in telling the lender. The formal extension includes a revised mileage agreement and monthly rental fees charged based on the expected vehicle depreciation. RE: Intent to Renew Lease. Here he turns his attention to the minefield of dealing with your freeholder to get a formal lease extension. Your name, current your and contact information; Date the lease extension request is submitted; Length concerning the lease extension, including the proposed finalize date; Reasons on extension; Date by which you need a decision, usually 10 life to two. Currently, the lease is set to expire on [date]. A LEASE adviser can consider the terms of the lease to identify if possible what is part of the demised premises and what belongs to the landlord. Once the lease falls below 80 years, the landlord is entitled to receive 50% of the increase in property value when an extension iss granted; this “Marriage Value” is what makes it. When you’re writing a lease renewal letter, you should include: The names and contact information for the landlord and tenant. To request a lease extension, submit a informal letter containing all who pertinent detailed your landowner needs to make one decision. Renewal means resuming once or to start again after a break. Informal lease extensions don’t need to follow the same process. By far, they are the best residence in the whole region. Step 4. State the purpose of the letter, clearly requesting an extension of the contract. A lease is a legal document, so a lease extension newsletter request should be treated with the similar level of importance. You can extend the lease on a shared ownership property. Before you go down the statutory extension route asking the Landlord is I think an obvious and important first step. Gurvits was named – without comment and together with Peverel and Tchenguiz – in a brief intervention in the rental housing sector debate yesterday by Sir Peter. DATE. You can write phrases like ‘Hello Samaira’ or ‘Sir/Ma’am’ as salutations. To request a lease extension, submit a informal letter containing select the pending item your landlord needs to manufacture adenine deciding. This letter is regarding an inquiry about the leasing of your property at [mention the name of the location]. co. Estimated for a flat worth £200,000 once the lease is extended, with £100 ground rent rising by £100 for each 33. Cloned 61,887. You might be able to extend your lease by: 90 years on a flat if you qualify. If the landlord cannot write off a portion of the rent as in the above, then a third option is to ask for a payment holiday in your letter to landlord to extend a lease . The letter should include: Form: Option to Renew Real-time Demesne Lease Project: Sample. uk or call 0208 840 6640. The letter supposed include: Your name, current address and contact. Informal Letters. Step 2 – Appoint a lawyer who has experience in the field. A lease will adenine judicial register, therefore a engage extension letter request supposed be treated including an just level of significance. Alert your tenant that excessive utility usage has been noted with this direct and to-the-point form. Approach the Other Party. Once a lease term falls below 80 years the premium for an extension may increase. The subject will follow the salutations in your leave extension letter. I am very grateful for your kindness, and I will take you up on your offer immediately. The Leasehold Reform Housing and Urban Development Act 1993 gives leasehold owners the legal right to a lease extension, using the above-mentioned formula to calculate the premium payable to the. Re: Lease Renewal. If the landlord decides on the latter, a letter should be sent to the tenant stating the following:Step 1: Write the contact information and date. We looked at your payment records carefully and have found that you are already overdue on your account and it has been [ length of time] since your last payment. To pursue this route, leaseholders must proceed in accordance with the 1993 Act, which. This is the statutory lease extension allowance, but there may be occasions where the term can be less, and this will be dependent on whether we own the freehold of your home. Currently, the lease is set to expire on [date]. Usually, you would be responsible for covering L&Q’s solicitors costs and your own legal fees when extending your lease, however, as part of our current. Frank will pay $600/- per month as the rent of the apartment. Template 11 - Letter to court asking for case to be transferred to First-tier Tribunal Read More . receive a Lease Extension Offer with confirmation of the premium payable for a new 125 year lease. Free Agreement Renewal Letter. Lease extension costs. A standard residential lease agreement (or “rental agreement”) is a contract for a tenant to use a landlord’s residential property in exchange for paying rent. The letter should include: Rent agreement sizes: Around is a specimen for reference - Times of IndiaThis method is called the informal route lease extension. In many cases, you can activate an informal extension simply by placing a call to the car company that provides your lease. First, include the name, designation, and address of the recipient. However many websites / articles caution against “agreed lease extensions” where you have negotiated with the Landlord and not gone through the statutory. g. Here, the customer signs a legally-binding modified agreement to extend the lease for more than six months, i. Put it in writing. A brief summary of our Fixed fee costs for the informal route are set out below, click here for a detailed quote or call 0800 830 3388. Dear Ms. If you’re in an informal extension for. In fact, freeholders will soon likely be legally obliged to reduce ground rents to zero in lease extensions anyway. ge in the Lease extension agreement to remove the capital improvement provision. Get in click; 01202 499255; House; Concerning us. 1. This letter serves as one informal. Aug 31, 2021. In this extension time, you have to pay extra $10 per month. Our specialist Leasehold Property Team is one of the largest in the region and are happy to discuss any of the issues outlined in this article. Sub: Extension letter of notification for lease property Dear tenant, _____ (Write the name of the tenant here), Your lease agreement for the house property (Reference No: _____) will expire in 3 months. The family must request PHA approval to add any other family member as an occupant of the unit; ( vi) HUD's regulations in 24 CFR part 5, subpart L (Protection for Victims of Domestic Violence, Dating Violence, Sexual Assault, or Stalking) apply. Once you have completed the self-assessment using the Wear and Use guidelines, you can schedule a complimentary pre-inspection within 60-days of your lease-end date. Call 020 8840 6640 or email solicitor@starckuberoi. Download. Go through the letter and understand everything that is contained within it. Read More. Download a template informal letter enquiring about lease extension of a flat, or. The main advantages of the informal lease extension are: Speed : the formal route requires a notice to be served on the freeholder and they are given up to 2 months to. It could be that you are having problems trying to sell your flat due to the length of term remaining or maybe have a clause which permits a significant ris in the ground rent. Send your written request and support letter. Request Extension on Payment –. com or by pasting into the form below. Freeholder valuation. A Formal Extension is a formal agreement between yourself and the finance company. The Term of Lease will start from [Date] and end on [Date]. The Formal Process (serving a notice) – what are the pros and cons of the ‘process’ itself. Step 2: Lease-End Inspection. 4. Landlord’s name and contact info. Current address. 48 Templates.