ground rent

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ground rent

The rent paid under a ground lease.

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In August 2017, the UK Ministry of Housing, Communities & Local Governments launched a consultation on proposals to amend leasehold legislation, after leaseholders raised concerns over contracts which periodically double ground rents, potentially leading to huge costs.
Clauses were written in the small print by developers that meant the ground rent would rise automatically, leaving homeowners with a bill for thousands a year they can't afford and affecting their ability to either sell up or even cover a mortgage.
A good range of ground rent investments, which have traditionally been popular in the auction room, are also included in the March catalogue.
Mr Javid said: "It's clear that far too many new houses are being built and sold as leaseholds, exploiting home buyers with unfair agreements and spiralling ground rents.
The portfolio generates a 6.5% net yield a year for the council, with industrial ground leases the most lucrative (8.4%) and retail units at ground rent the least (3.7%).
The auction included a mixed variety of lots including houses with vacant possession, freehold ground rent investments, plots of land and garage blocks with rental money coming in from the let lock-ups.
Average asking ground rents increased $10 per square foot to $885 per square foot at midyear.
He explains how Ashridge Park was made possible by the Bridgewater Canal; the enlargement of Chatsworth by mineral royalties and urban development at Buxton; Eaton Hall by London ground rents and Welsh mining revenue; the reconstruction of Arundel Castle by canals wharfs, markets, coal, iron, cotton, and ground rents in Sheffield and London; Penrhyn Castle by the Bethesda Slate Quarry; Eastnor Castle by the development of Somers Town in London; Oakly Park by Indian nabobry and Cardiff ground rents; Meldon Park by coal; and Deepdene by banking.
Vernon succeeded his father as manager of the Pembroke Estates, collecting ground rents from various properties in the south Dublin area.
NORDIC BUSINESS REPORT-21 May 2002-Law change leads to sharp increase in Norwegian ground rents (C)1994-2002 M2 COMMUNICATIONS LTD http://www.m2.com
The Conference Committee gave the Treasury the authority to classify as nonpassive (1) income from ground rents that produce income without significant expenses; (2) relatedparty leases on property used in a business activity and creating passive income; and (3) activities previously generating active business losses that the taxpayer intentionally sought to treat as passive at the time when they generated net income.
(Alliance News) - McCarthy & Stone PLC said Friday the UK Ministry of Housing, Communities & Local Government confirmed the retirement sector will be allowed to continue charging ground rents even as they are capped elsewhere.