Ground rent

If you own a leasehold flat you will be charged ground rent in your estimate. This charge is a small rent fee which is payable each year for the use of the ground on which the building stands. It is set at the figure specified in your lease.

Shared owners pay two types of rent. You will pay the ground rent for your long-term lease as well as rent on the part of the property you do not own. The rent on the share of the property that you do not own will gradually decrease as you buy more shares.

Freeholders living on Hackney’s estates will not pay any ground rent as the land on which the property is situated belongs to the freehold owner.