What is Ground Rent?

Ground rent is what you pay the person or company who owns the land your property is built on. This person or company is known as the freeholder.

You (the leaseholder) own the leasehold for a period of time - usually for between 99 and 999 years – but at the end of that time ownership of your apartment or house reverts back to the freeholder unless the lease is extended or the leaseholders join together and become the freeholder.

Ground rent is usually paid once or twice a year. Check your lease for exact details.