Kensington - All you need to know - Flipbook - Page 14
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Ongoing charges
You continue to pay the Membership Fee and all other charges
associated with living in your apartment, including any arrears,
until your apartment is sold
Redecoration and
refurbishment
You need to redecorate the apartment in the 3 months before
you sell the apartment
You don’t have to refurbish the apartment (e.g. replacing bathrooms
and kitchens) but we can arrange this if you want us to
Insurance
Arranged by Riverstone Riverstone will take out buildings insurance, employer’s liability
insurance and public liability insurance. The cost is included in
the Membership Fee
Arranged by residents You need to arrange your own home contents insurance
Funding of
major repairs
There is no ‘sinking fund’ at Riverstone Kensington.
We pay for all major repair works to the common parts
including amenity spaces (but not individual apartments),
refurbishments and improvements using contributions from the
Deferred Fee which we charge you when you sell your
apartment. No extra costs will fall on residentss
Constraints on selling All apartment sales have to be at open market value
Buyers need to specify one person aged 65 and over who will
live in the apartment
We do not have any contractual rights in the lease to buy back
the apartment from owners
