What are the key responsibilities of a leaseholder?

The key responsibilities of a leaseholder primarily involve obligations related to maintaining the lease agreement with the property owner, commonly referred to as the freeholder. This includes the payment of ground rent, which is a fee paid for the right to occupy the land. Additionally, leaseholders are responsible for contributing to the maintenance of communal areas and facilities, which supports the upkeep of the overall property. Following the lease terms is crucial, as these terms define the rights and obligations of the leaseholder, including any restrictions or stipulations regarding the use of the property.

The importance of these responsibilities reflects not only on the leaseholder's legal obligations but also on the need to maintain good relationships with the freeholder and fellow residents. By adhering to these responsibilities, leaseholders help ensure that the property remains a desirable place to live or work, which benefits the entire community.