The maintenance charge for 2017/18 is £200. Some residents may have already paid either £200 or £240 to the developers/solicitors when they purchased their property; the £200 will be credited towards 17/18 and anyone paying £240 will have the £40 credited towards the next invoice when the money is received by the Management Company. Credits and refunds can only be made when proof of payment to the Management Company is made. The annual maintenance charge is payable by all property owners without exception (see deeds on completion). Non payment will result in a reminder and final reminder before referring to a debt collection agency. Payment by instalments is within the timescale on the original invoice and cannot be extended . Payment for 2017/18 is due by 20.02.18 latest . Refer to deeds/solicitor for information upon purchase regarding maintenance charge.
The fund is to cover depreciation of fixed assets as well as grounds & general maintenance. For example, eventual full or part replacement of the flood defenses which cost £6m at 2015 prices, renewal of the movement joints (7-10 years), footpaths, car park, play areas, lighting, etc.
An annual report detailing income & expenditure will be provided following each financial year end.
Some areas have now been completed to the satisfaction of the Management Company and have been handed over. These areas are shaded in blue on the document below –
OTHER DOCUMENTS –