Schedule 8: Remediation costs under qualifying leases Paragraph 15: Information from tenants Proposed use of power
The power at paragraph 15 will be used to prescribe any relevant documents that need to be provided by qualifying leaseholders to their landlord alongside the qualifying lease certificate (to which see paragraph 13). This will ensure suitable and appropriate documents demonstrating that the lease is a qualifying lease are provided to the landlord.
	In addition, the power will be used to prescribe the information and documents that need to be provided by qualifying leaseholders to their landlord evidencing the most recent sale price of the property, and the year in which it was sold; this will allow the landlord to determine the value of the qualifying lease.
	Where the qualifying lease is a shared ownership lease, the power will be used to prescribe the information and documents that need to be provided evidencing the equity stake in the lease that the leaseholder had at the qualifying time.
Example 1
A qualifying leaseholder needs to evidence to the landlord the value of their lease at the qualifying time. Under the regulations made under paragraph 15, they will need to provide to their landlord evidence of the most recent sale price of the property, and the year in which that sale took place. This will allow the leaseholder and the landlord to determine the value of the qualifying lease.
Example 2
A qualifying leaseholders owns a shared ownership lease. They will need to provide evidence to the landlord of the value of their lease and the equity share at the qualifying time. Under the regulations made under paragraph 15, they will need to provide to their landlord the most recent sale price of the lease, the year in which that sale took place, and the equity share of the property. This will allow the leaseholder and the landlord to determine the value of the qualifying lease and the capped leaseholder contribution that applies to that lease (which will be determined in proportion to the leaseholder’s share in the lease at the qualifying time).