EVENT FEEStratton Court
What is An Event Fee?
COMMONLY KNOW AS AN ‘DEFERRED MEMBERSHIP
- Extensive structural repairs
- Re-roofing of properties
- Resurfacing roads and pavements
- Re-wiring communal facilities
- Renewing of service supply.
An Event Fee is a percentage-based contribution, applied as and when your property is sold to pay for these major works. The fees are built up from contributions made from the sale of each property to pay for the more significant repairs. This method ensures that everyone who lives in an Apartment can do so knowing that there will always be sufficient funds available.
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WITH OUR KNOWLEDGEABLE TEAM
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Benefits of The Event Fee
UNDERSTANDING OUR FEES
Fixed services charges for the duaration of your time at Stratton Court.
High standards of repair to the Village when required.
How is The Event Fee Calculated?
DEFERRED MEMBERSHIP CALCULATOR
The fee is payable on sale of the apartment (including a sale back to the landlord or a transfer to a family member). In addition, depending on the circumstances, a fee may also be payable where there is a change of occupancy. The actual percentage fee payable on sale is 1% of the market value of the property up to year 1, and goes up by 1% every year. This fee is capped however after year 9 at 10% and will not increase.