6. Lease Extensions

In 1993 and 2002 legislation was passed which allowed lessees the opportunity to extend their lease to maintain the value of their property. Mortgage companies would normally grant mortgages on properties with 30 years or more left on the expiry of the mortgage term.

When a lease approaches 70 years unexpired, the marketability and property value can be affected.

Campsie surveyors can value lease extensions and act on behalf of both lessees and freeholders in throughout the lease extension process.

Campsie can also calculate the value of a freehold interest if lessees in a residential block wish to acquire the freehold interest. Campsie can act for either lessees or freeholders with these negotiations.