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It would be great if you could have a tick box for Leasehold or Freehold.
If the Property / Unit is Leasehold you would then be able to Input the details of the lease such as;
-The lease expiry date which could then automatically display the number of years remaining.
-The cost of ground rent payable and payment regularity
-The cost of any Service charge and payment regularity
-The details of the Freeholder
Hello
This is being bundled up as part of an upcoming section for commercial properties which is currently in the discussion phase. As such, we need users to confirm a few things
Would the freehold / leasehold information listed above be required only for commercial properties, or would it be useful for residential properties?
"The cost of ground rent payable and payment regularity
-The cost of any Service charge and payment regularity"
Would you want the software to produce repeating incomes from these? And if so, to what category?
Landlord Vision Support
I can see where you're coming from, I don't generally deal with commercial properties so i hadn't considered it from that side (income).
Residential leasehold properties generally have service charges and ground rents to pay throughout the year, and they may not line up; several of mine have 2 ground rent expenses per year and 1 service charge. Others only have ground rent. so, repeating expenses would be very helpful. I have set up their own account categories.
It is also very important to keep track of the amount of time a lease has remaining; this can vary from 999 Years down to none. A countdown of number of full years remaining would be great.