Pavilion Acres - Affordability Schedule 28112023

PAVILION ACRES, WALSALL AFFORDABILITY GUIDE Indicative Anticipated Annual Management and Maintenance Fees and Other Costs This form highlights any anticipated costs that customers may be liable for during the first 10 years of ownership of their new home. Where estimated costs are provided, it must be borne in mind that those costs will be likely to increase year on year in line with RPI. This does not include such areas as mortgage payments, utility bills or home insurance, but covers potential anticipated costs of running and maintaining a home. These costs are indicative and based on the best information at this time but could be subject to change.

In addition to the items noted below, Customers should follow the manufacturers guidelines and warranty requirements in order to maintain any appliances or fixtures within their new home.

Furthermore, whilst running in a new home, it is important to maintain good levels of ventilation whilst the structure is drying out. This could include the use of extractor fans in bathrooms and keeping trickle vents open on windows. For further information, please refer to the Customer Service team.

The projected costs referred to below are only estimates, are not intended to reflect all possible costs that a customer may incur and are provided for guidance only. Actual costs incurred may be higher or lower than specified and we accept no liability should actual costs incurred differ from those set out.

Gas and Electricity

An estimate of the average annual and monthly costs according to home size can be found here:

https://www.britishgas.co.uk/energy/guides/average-bill.html Heating

Appliances

Brick

To protect the warranty cover, all boilers and unvented cylinders will require an annual service, costing around £100 for each.

Servicing and maintenance contracts are available from the boiler manufacturer, utility companies, home insurers and other providers. In some instances it may be possible to spread these costs in smaller monthly payments.

Integrated and free-standing appliances carry a twoyear warranty. Appliance manufactures and others offer extended warranty and breakdown cover for up to 10-years, typically costing £6 to £15 per appliance per month.

Brickwork requires little or no maintenance so planned maintenance is not relevant. However, it will benefit from a periodic pressure washing to remove accumulated atmospheric dirt. Typically, costs are £150.

Also, rain splashes at low level can dirty masonry. In

Timber Fencing

Garden Landscaping, e.g.

Hedges, Trees, Lawns Other Management Company (if applicable)

this instance it may be necessary to apply a weak acid cleaner prior to the pressure washing to restore the colour of the individual bricks. Coupled to the pressure washing, typically, costs are £200.

Homeowners will need to carry out basic maintenance to make sure it both look fresh and lasts.

In year-1 cleaning it with a fence cleaner, is recommended. Assuming DIY, the material cost should be around £15.

Every two years thereafter, it is recommended that the fences should be re-cleaned then a full coat of stain is applied. Assuming DIY, the material cost should be around £35.

Fence cleaner and stains are readily available from all DIY warehouses.

Where fungal infection or diseased wood is observed then to prevent the spread of further infection, the affected timber should always be removed.

It should be noted that if the homeowners’ choses to employ a painting contractor, the above costs will be significantly higher.

General maintenance will be required to trim hedges and cut grass every 1-2 weeks between Spring and Autumn. Trees may require annual maintenance.

Insert any additional items that may incur an annual cost Betts Ecology and Estates

Managing Agent

Head Office: Betts Ecology and Estates Bank House, Witley Road, Martley Worcester, WR6 6PB UK 01886 888445 residents@bettsestates.com

Estate Management Charges

Estate Management Charges are payable by owners of both freehold and leasehold properties. They cover the cost of the maintenance and upkeep of the communal areas on the Development and are known as the Estate Services.

The Estate Management Charges have been estimated by the Managing Agent and are an estimate of the costs likely to be incurred in the first year or so after they take on the management of the development.

These costs are likely to increase in line with inflation and the Managing Agent will keep you informed on an annual basis of the likely costs for the following Estate Management Charge year. The estimate of the total annual costs of the Estate Services, calculated on

November 2022 is set out below: Management Company fee Subject to change Number of Properties

Total Total PD units contributing to costs = 150 150

£21,950 £195 + vat

Amount payable per property for the Estate Management Charge

A document fee of £150.00 is payable for producing the legal documentation pack and drafting the final Transfer or Lease. This amount is detailed on the Reservation Form and will be included on the completion statement.

Other Costs

It is usual for a Management Company to charge a fee for providing a pack of up to date information to facilitate any re-sale or remortgage of a property. The pack would be requested as part of the legal conveyancing process.

The cost of these packs vary between Managing Agents and can also depend on whether a pack is requested for an onward sale or just a re-mortgage.

Typical fees currently range between £200.00 and £500.00 depending on the age of the development and the Managing Agent involved and should be expected to increase annually in line with RPI.

Event Fees (additional costs on a re-sale or remortgage of the Property)

ESTATE MANAGEMENT CHARGES – FREEHOLD – FAQS WHAT ARE THE ESTATE MANAGEMENT CHARGES FOR?

The Estate Management Charges cover the cost of the maintenance and upkeep of the communal managed areas on a development and can include:       

Landscaped areas Tree works POS Footpaths Play area Public liability insurance A sinking fund for future replacement or repair costs The managing agents fees and costs associated with the administration of the management company, such as accountant’s costs, Companies House fees and health and safety risk assessments.

These are known as the Estate Services. The scope of the Estate Services can change over the lifetime of a development (for example if services become unnecessary or outdated, or new services are required).

The size of the Estate may also change over the lifetime of a development, or after the development has been completed, for example if additional land is purchased by the developer and added into the Estate, or if the size of the Estate is reduced.

HOW AND WHEN WILL THE ESTATE MANAGEMENT CHARGES BE INVOICED?

The Managing Agent will issue formal Estate Management Charge invoices to you. They will collect this usually in either quarterly, sixmonthly, or annual installments. The Estate Management Charge will be collected in advance, so that there is money available in order to pay for the services provided.

On a larger development, once certain elements of the Estate communal areas are physically available on the development, the developer may elect to undertake the Estate Services and will then issue the Estate Management Charge invoices until such time as the Managing Agent takes over the day-today Estate management functions.

WHAT IS A SINKING FUND?

A “sinking fund” or “reserve fund” allows the Managing Agent to build up a fund to pay for

future larger scale works. The sinking fund contribution will be collected as part of the Estate Management Charge.

WHAT SHOULD I DO IF I HAVE ANY OTHER QUESTIONS REGARDNG THE ESTATE MANAGEMENT CHARGE? Version 1.0.0

Full details relating to the Estate Management Charge are set out in the legal documentation pack which will be sent to your solicitor who will be able to assist with any queries you may have regarding the charges.