ground rent collection services

landlords'>Ground rent and the covenants in the lease) define the relationship between the leaseholder and the freeholder. The leaseholder pays the predetermined landlords'>ground rent to the landlord usually annually, half-yearly, or quarterly. The payment grants the leaseholder the right to continue owning the lease, as not paying could lead to forfeiture of the lease.

The role of digitalisation in landlords'>ground rent collection services

At The Ringley Group, digital advancements have played a crucial role in streamlining the collection of landlords'>ground rent, bringing down the expenses for freehold landlords'>ground rent investors and freehold-owning management companies to a mere (6%) six percent of the landlords'>ground rent collected.*

What Ringley has done is applied the principles of robotic accounting to the collection of landlords'>ground rents and automated everything: demands, landlords'>ground rent increases, posting and mailing, collection via direct debits, reviews of direct debits, ledger allocations, and bank reconciliations. Having through automation lowered their cost for demanding and collecting landlords'>ground rent, The Ringley Group is passing on most of their landlords'>ground rent collection cost savings to the Client, in this case, the freehold landlords'>ground rent investor or freehold management company.

How much does it cost to get your ground rent collected?

Group CEO Mary-Anne Bowring says "We have enhanced our operational efficiency by integrating digital technologies and robotic accounting, there are many landlords'>ground rent collectors who are unable to operate at our cost base and we have chosen to share our savings and can now collect modern landlords'>ground rents for 6%. Robotic accounting reduces allocation errors, using direct debit we manage what the customer needs to pay, and rent reviews can't be missed. Onward automatic escalation of bad debts to Ringley Law is included once debts are over 351."

Automation is a valuable tool for freehold landlords'>ground rent investors, allowing them to manage landlords'>ground rent procedures more effectively and efficiently.

Here are some instances of digital technologies applied in the management of landlords'>ground rent:

Ground Rent collection software:

The Ringley Group's ground rent collection software streamlines the collection of rent payments from tenants, eliminating the need for manual work and paper-based systems. This facilitates property owners in enhancing their management of ground rent, resulting in cost reductions and increased profitability. Ringley specialises in collecting Ground rent on behalf of Freehold Investors, Developers, and resident-controlled Freehold Management Companies. Regardless of any disputes with the landlord, ground rent payments are due, making efficient and accurate collection paramount.

Ringley's approach delivers superior returns for investors thanks to its streamlined cost structure. Annual demand packs and emails are used for sending copy demands, polite reminders, and final notices. Furthermore, Ringley offers Leaseholders the convenience of direct debit payments. Ringley employs bulk processes, robotic accounting, automated allocations, and an advanced mailing warehouse to handle ground rent collection efficiently. This collaborative approach enables them to offer a highly competitive fee of just 6 percent, a significant 50 percent reduction compared to the industry norm of 10-12 percent.

*The 6% rate applies to ground rents of 200 or more and is subject to a minimum fee for small blocks.