Charge Period

Atrium Initiatives levies charges either annually or quarterly in advance.  We do so by agreeing in advance with the contractor the extent and cost of the work required in an area,  but with a small provision for unforeseen eventualities.  At the end of each financial year we reconcile our estimated cost with the actual works undertaken.  Any differences are carried forward to the next financial year, with charges being adjusted upwards or downwards accordingly.

Administration Charges

Atrium Initiatives levies an Administration Charge to cover the costs of all the administration associated with managing the estates.  This includes specifying works, appointing a contractor, supervising work, carrying out regular estate inspections, dealing with residents’ concerns, processing common repairs as well as calculating each owner’s share of charges, issuing bills and recovering owners’ shares. 

In considering these changes we have looked at what alternative private providers are quoting for administration to ensure our fees remain reasonable and competitive.

Where the activities undertaken relate only to open and common area maintenance, the charge per owner  from 1st April 2007 is £12 per year.  From  1st April 2008, this will rise to £20 per year. Where we have to send a payment reminder letter to an owner, we will levy an additional administration charge of £5. 

Payment Arrangements

We offer a number of payment options for owners:

• Direct Debit - Owners are welcome to pay their bills monthly by Direct Debit over 10 months.
• Lump Sum Payment - Alternatively, owners who settle the bill in advance in a lump sum and do so within 28 days of issue, will be given a 5% discount on the total bill.

If you sell your house you are only liable for maintenance and administration costs up to the date of sale.  When you advise us of the sale we will calculate your actual charges and payments received to the date of sale, and either refund an overpayment or advise you of the amount outstanding to that date.