Leaseholders
Whether you are a current Magenta Living leaseholder, or you are looking to buy a property which includes a lease agreement with us, find out all you need to know here.
What does it mean to be a leaseholder?
As a leaseholder, you have purchased the right to live in your property for a fixed period , up to 125 years.
The lease is a binding contract that states your rights and obligations as a leaseholder and Magenta Living's rights and obligations as the freeholder (the owner of the property).
Our responsibilities to you
We will:
- Provide all new leaseholders, with a welcome information and handbook
- Insure the structure of the building against destruction or damage by fire, lightning, explosion, earthquake and other reasonable risks. (the leaseholder is responsible for insuring the contents of the home).
- Maintain the appearance, structure and outside of your building for example, communal lighting, windows and door entry systems.
- Maintain communal garden areas, boundaries and paths where we are responsible for doing so.
- Offer an appointment to all potential leaseholders to discuss the implications of owning a lease at section 125 offer notice stage.
- Offer leaseholders help and advice regarding any issues that may affect them.
- Correspond with solicitors and legal advisors within five working days regarding property sales.
- Keep you up to date with any changes.