A management fee is payable annually as a contribution to the shared costs of maintaining the shared communal gardens and common parts of the estate.
Fees are discussed with owners and agreed at the Annual General Meeting to which all owners, as members of the Mayfair Gardens Management Company, are invited.
Annual management fee
The fees for previous years are shown here, along with the fee for next year. The management fee is agreed at the Annual General Meeting each year.
Registration fees
All purchasers of properties must register as members of the Mayfair Gardens Management Company as a condition of purchase as part of the covenant.
The administrative fee to register as part of the company is currently £100 and purchasers are expected to pay this as part of the conveyancing process.
Sale of property
If a property is sold part way through a year in which the vendor has paid the full maintenance fee, the vendor should seek the refund for part year payment from the purchaser.
The new owner is liable for all outstanding fees relating to the property.
Accounts
The accounts for the management company are filed with Companies House for each financial year ending on 30th June.
Copies of the annual accounts are provided to every member of the company, who also receive notice of the Annual General Meeting where printed copies are available.