Our service charge and fees
All our homeowners pay an annual service charge. It’s paid by direct debit every month and reviewed each year. This charge allows us to take care of the day-to-day running of the retirement development, like maintaining the communal areas and gardens on your behalf - so you can focus on enjoying active retirement living.
The budgeted costs are presented every 12 months. Everyone living in a development is invited to an annual budget meeting to discuss the proposals. These costs are then divided among homeowners in line their lease.
We believe the charge provides good value for money and always aim to be transparent and competitive. Other than the House and Estate Management teams, we do not provide any of the services ourselves but instead get quotes from providers. At some of our most recent developments, the service charge also includes the cost of heating the apartments.
In addition to a service charge, you’ll also need to pay ground rent, you can find out more about this here.
Your sales consultant will talk you through the service charges and answer any questions you have. You can also find lots of detailed information in our FAQS. Or give us a call: 0800 201 4811
What your service charges pays for
If you live in a Retirement Living development your service charge includes:
- Paying for the House Manager – they ensure the development runs smoothly
- All maintenance of the building and grounds, including window cleaning, gardening and upkeep of the building exteriors and communal areas
- A 24-hour emergency call system
- Monitored fire alarms and door camera entry security systems
- Buildings insurance, water and sewerage rates
- Maintaining lifts
- Heating and lighting in communal areas.
For a typical Retirement Living apartment (based on Atwood House in Sanderstead), the service charge is £48.93 a week for a one-bedroom apartment and £73.36 a week for a two-bedroom apartment*.
If you live in a Retirement Living PLUS development your service charge includes:
- Paying for the Estates Manager – they ensure the development runs smoothly
- All maintenance of the building and grounds, including window cleaning, gardening and upkeep of the building exteriors and communal areas
- A 24-hour emergency call system
- Monitored fire alarms and door camera entry security systems
- Buildings insurance, water and sewerage rates
- Maintaining lifts
- Heating and lighting in communal areas
- Staff on-site 24/7 for your peace of mind
- The running costs of the onsite bistro/restaurant (there is an additional subsidised charge for meals/drinks)
- One hour of domestic assistance per week.
For a typical Retirement Living PLUS apartment (based on Chesterton Court in Ilkley), the service charge is £138.27 a week for a one-bedroom apartment and £184.31 a week for a two-bedroom apartment.*
If you live in a Lifestyle Living development your service charge includes:
- All maintenance of the building and grounds, including window cleaning, gardening and upkeep of the building exteriors and communal areas
- Monitored fire alarms and door camera entry security systems
- Buildings insurance, water and sewerage rates
- Maintaining lifts
- Heating and lighting in communal areas
- A concierge service (select developments only).
Contingency fees
Our retirement apartments enjoy shared spaces like lounges, hallways and gardens which we need to keep in tip top condition for everyone to enjoy. That’s why we charge a small contingency fee, included in the service charge, to cover planned maintenance and renewals in the future - e.g. the refurbishment of interior decor, replacement of windows and maintenance of the roof over the next 25 years.
We keep this cost to a minimum by adding to the fund with a one-off charge of 1% of the resale price when an apartment is sold. If you decide to rent out your home, the subletting contingency fee is 1% of the yearly rent you charge.
Note: Lifestyle Living developments are excluded from the additional 1% resale contingency fee as they offer fewer communal spaces and facilities (for example, they don’t have communal lounges.)
*These figures are correct up to 30 June 2021
Take a look at our Service charge budget planner