Apartment Leasehold, who gets the ground rent?

D

DMcL1971

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I live in an apartment. Therefore I presume I have a leasehold on the property. So I must be paying ground rent to whoever owns the land underneath my apartment.

How does this work? Is the ground rent included in my management fees and if so who does the money actually go to? Is the land actually owned my the management company or the builder or the county council?
 
During the initial phase, the land is owned by the developer. At some point, it is vested/transferred to the management company. Under the new legislation, all substantially completed apartment blocks must be vested to the management company by 1st September 2011 and all new blocks must be vested before the first apartment is sold.

Normally the rent is £1/€1 per apartment and I've never heard of the developer taking it (but could obviously be wrong). It's such a small amount of money that I can't imagine that they'd care.
 
Thanks for the response Mark. I didn't realise it was such a small amount of money.
 
Just an update for anyone who is interested. I received my title deed from the bank last week and had a quick look over it. My leasehold states that ground rent of £1 is payable annually to the managemnet company. However the management company can choose not to collect this amount.
 
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