Kensington - All you need to know - Flipbook - Page 19
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2.
Living in your apartment
What is the Membership Fee?
Once you have bought your apartment and moved in, you will have to pay the
Membership Fee. This is an annual charge, which you pay monthly in advance.
The Membership Fee you pay will depend on the number of bedrooms in the apartment
as well as which of the three Membership Fee and Deferred Fee options you choose
when you buy at Riverstone Kensington.
Apartment type
1 Bed
2 Bed (Small)
2 Bed (Med/Large)
3 Bed
Option 1
£1,574.47
£1,674.73
£1,751.37
£2,014.74
Option 2
£1,574.47
£1,674.73
£1,751.37
£2,014.74
Option 3
£787.23
£837.36
£875.69
£1,007.37
Points to note:
- Under Option 1, the Membership Fee increases each year on 1st January in line with
inflation. However, we include a cap which means the Membership Fee cannot
increase more than 4% in any one year. For example, if inflation runs at 6% in the first
year and 8% in the second year, your Membership Fee will still only increase by 4% in
year 1. It would then increase by a further 4% in year 2.
- Under Option 2, the Membership Fee is set at the same level as Option 1 for each
apartment type but is fixed “for life” and won’t increase annually in line with
inflation during your period of ownership. This is the key difference between
Option 2 and Option 1.
- Under Option 3, the Membership Fee is set 50% lower than Option 1 for each
apartment type. For example, the Membership Fee for a 2 bed (small) apartment
would be £837.36, compared to £1,674.73 under Option 1. We refer to this as the
“Half-Price” Membership Fee option. This option is also fixed “for life” and won’t
increase annually in line with inflation.
