Kensington - All you need to know - Flipbook - Page 11
9
Membership Fee
Under Riverstone’s “Value in Choice” scheme, we o昀昀er three
di昀昀erent Membership Fee options:
Option 1: The initial Membership Fee rates, which are reviewed on
01 January each year are:
1 bed
2 bed (Small)
2 bed (Med/Large)
3 bed
£1,499.49 per month
£1,594.98 per month
£1,667.97 per month
£1,918.80 per month
Under this option, the Membership Fee increases each year on 1
January in line with in昀氀ation but cannot increase more than 4%
in any one year
Option 2: The same Membership Fee for di昀昀erent sized apartments
as under Option 1 but 昀椀xed “for life” during your period of ownership
Option 3: The same Membership Fee for di昀昀erent sized apartments
as under Option 1 but reduced by 50% and 昀椀xed “for life” during
your period of ownership
Where completion of the Purchase takes place in any subsequent
calendar year(s) after the date of reservation, the Membership Fee
is increased in line with index-linked in昀氀ation (with a cap of 4% on
any increase each year) on 1 January each year to calculate the
starting Membership Fee on completion
When you sell your apartment, we rebase the Membership Fee for
the next buyer in line with in昀氀ation over your period of ownership.
Please refer to ‘Riverstone’s “Value in Choice”’ section on page
27 for further details
If we want to change or add to the services for an additional cost,
we will allow residents to vote on the proposal 昀椀rst. We will only
increase the Membership Fee if more than 50% of residents vote
in favour
The monthly Membership Fee includes a £100 credit for you to
spend in our on-site restaurant each month
