Maintenance Service / Rentcharge
There is a compulsory annual maintenance service charge called the "Rentcharge" payable by the owner of each house on the estate to the LRRA Limited company to cover maintenance and running costs, and to build a reserve fund to cover potential future major expenditure, such as the resurfacing of roadways. Maintenance work is undertaken from time to time to eliminate potholes, surface cracks, etc.
The LRRA Board sets the Rentcharge annually each March to meet the expected or budget level of expenditure for the coming year. The annual Rentcharge is in the region of £250 per household. The Rentcharge is payable annually in advance in April.
The Rentcharge is used for the collective benefit of all residents in maintaining the fabric and appearance of the Lynwood Road estate including costs of gardening, cleaning, lighting, drainage, maintenance of the common parts, preparation & audit of accounts and property public liability insurance (property contents and buildings insurance are the responsibility of each householder) and directors' liability insurance.
In April every year, each house owner (also a company member) will receive an invoice/statement for the Rentcharge for the coming financial year (April to March). Payment may be made in full or in two instalments of 50% fully paid by October. Please help keep our costs down by settling the amounts promptly when requested.
Payments
Preferably payments should be made by online bank transfer, alternatively by cheque payable to Lynwood Road Residents Association Limited and sent to Lynwood Road Residents Association Ltd at 10 Lynwood Rd, Thames Ditton KT7 0DN
Bank details:
Santander UK plc
Account Name: Lynwood Road Residents Association
Sort Code: 09-01-50
Account Number: 03386813
Always quote the house no./road reference shown on the invoice/statement.
The Association may levy interest and/or an administration charge if any amounts are overdue. If there are any amounts owing to the Association when you sell the house or change your mortgage, the completion of your sale or re-mortgage will be delayed until the outstanding amount is paid.
Unless the Board is aware of any mitigating circumstances legal action will be taken to recover Rentcharge arrears. In this eventuality, the legal costs involved will be payable in addition to the outstanding Rentcharge.
Late payment of the Rentcharge is a waste of the directors' time and side-tracks us from other estate matters. Please remember that the directors offer their time voluntarily and want to spend this time improving the estate not chasing debts.