Tag - ground rent

What is a Ground Rent?

So what is a ground rent? And why were they created? One of the most common ways of owning a flat, and occasionally houses, around England and Wales is with a long lease. In most cases when the property was built a long lease, of say 99 years, would have been issued including a specified annual ground rent.Ground rents are typically set when a property is first sold, or the lease is extended.It is typically an amount set by [...]