A short lease extension calculator is incredibly useful in the world of surveying, but what is it? And what are its benefits? The team here at Kirkby Diamond we’ll be answering those questions for you in today’s explanatory blog post. Before anything else, though, what exactly is a short lease extension calculator?
What is a Short Lease Extension Calculator
A short lease extension calculator allows you to calculate roughly what the premium on your short lease extension will be. It can be incredibly handy if you’re not able to get in touch with a chartered surveyor, or just want to quickly run some “back of the napkin” type figures through your head. Most work by inputting your lease’s unexpired term, the lease value type, the existing lease value, and the annual ground rent.
The Benefits of a Short Lease Extension Calculator
The major benefit of using a short lease extension calculator is the convenience it provides. Much though firms like ourselves would like to be, chartered surveyors aren’t available 24/7. If you have an urgent need to find out your extension premium, therefore, and it’s out of hours, then a short lease extension calculator will give you what you need until you can get a more exact valuation from a firm like Kirkby Diamond.
These Calculators are Free!
Who doesn’t love a good free feature? With the cost-of-living crisis as steep as it is, and businesses having their margins squeezed tighter than ever, anywhere that money can be saved is warmly welcomed.
Enable Greater Planning
Rather than being left scrambling in the dark for a premium figure you think might be there or thereabouts, a short lease extension calculator will give you a more exact figure.
This enables you to plan more accurately with regard to your short leasehold extension and gives you a figure to compare against that provided by the freeholder.