What's included in your Home Reach lease
The lease sets out:
- A description of the property including its boundaries and a guide to which parts are your responsibility – if a leasehold property, it will also contain any restrictions or obligations flowing from the superior leasehold title, such as the payment of ground rent.
- The start date of the lease and the share that you have bought.
- The amount of rent that you must pay, together with other amounts due under the lease.
- The rent increase, linked to Retail Price Index plus 0.5% each year.
- Your responsibilities as a leaseholder, such as all repairs and maintenance of the property and those of heylo as landlord under the lease, such as building insurance arrangements.
- The method by which you can purchase additional shares to own more of your home in the future.
- The method by which you can move home, either by selling your share or selling the whole property.
What are your rights and responsibilities
You are responsible for all utilities bills, repairs and redecoration of your property. It’s your place and your space to make your own!
The only exception would be if you wanted to make any structural changes. For this you would need to apply in writing to heylo outlining the changes you would like to make. heylo will review the application to ensure the works are being planned and undertaken properly.
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