ground rent

Hello  Can  anyone  tell  me  if  its  common  practice  for  ground  rents  to  go  up  every  year.....if  so  does  the  site  owner  have  to  warrant  the  rise.  thankyou  evergreen

Hi Evergreen

Under Goverment approved legislation the park owner is allowed to increase his rents in line with the Retail Price Index.

Ed.

By the pitch fee going up by the R.P.I. only, the Park Owner is not increasing his revenue in real terms as the RPI is like inflation the park owner is only maintaining in real terms the income recieved previously but due to inflation and the cost of living without the income would be decreasing!

Oh if its by the RPI it is automatically justifiable