When you purchase a property within the East City Point development at Canning Town, in addition to enjoying your new home you will also have the benefit of a number of shared areas and facilities. No single property owner will be responsible for maintaining these, and a Management Company has therefore been set up for this purpose on behalf of the owners. All purchasers will become members of this company – Keir Hardie Management Company Limited - at the time of legal completion and upon completion of the relevant application form which is part of the legal process.

The legal documentation for the development sets out the role and responsibilities of Keir Hardie Management Company Limited and the management services to be provided on your behalf.

Until all of the properties within the development have been sold, nominee Directors have been appointed on behalf of all purchasers to ensure the Management Company is complying with its legal obligations. Following the sale of the final apartment, residents will be invited to take on the Directorships of Keir Hardie Management Company Limited.

The Directors of the Management Company have appointed Chamonix Estates to administer the development on behalf of all purchasers.

Keir Hardie Management Company Limited will be responsible for the maintenance, repair and renewal of the shared areas and facilities, as set out within the lease for each apartment.

This will include:

  • All external paths, parking areas, refuse areas and grounds which are not the responsibility of the local authority.

 

  • All internal communal areas

  • Structure of apartment and maisonette buildings
     

  • Shared drainage and plumbing

 

  • Communal wiring and lighting

 

  • Communal access and security equipment

When you purchase a property, there are certain financial obligations to which you agree. One of those obligations is payment of a service charge, which is an annual sum payable in advance.  The service charge covers the running costs in respect of the services provided to the development by Keir Hardie Management Company Limited.

These services are set out within the lease (or transfer in the case of a house) and include:-

 

  • Cleaning and maintenance to the communal hallways and stairwells

  • External grounds maintenance – which includes all hedges in the case of Keir Hardie Management Company Limited.

  • Cleaning of the windows within the communal hallways and stairwells

  • Maintenance of the communal access and security equipment

  • Payment of communal electricity charges

  • Insurance of the buildings – each purchaser should have their own policy for content

  • Management fees (Chamonix Estates fee for managing the development)

  • Audit fees

  • Sundry administrative expenses i.e. bank charges

  • Cyclical decoration to the common parts

Payment

Each year Chamonix Estates will prepare a service charge estimate for the forthcoming period, which will be based upon the known running costs of the development together with anticipated future expenditure. The level of service charge will be agreed by the Directors of Keir Hardie Management Company Limited.

Chamonix Estates will notify residents of the agreed level of service charge, provide a breakdown of the charge and advise of the various options for payment, which includes monthly direct debit.

A separate trust bank account, administered by Chamonix Estates will be opened in the name of Keir Hardie Management Company Limited, and all service charge payments will go directly into this account. Only the funds relating to this development will be held in this account.

Following the end of the financial year for Keir Hardie Management Company Limited Chamonix Estates will prepare accounts setting out all the expenditure which the development has incurred throughout the year, together with any reserve fund. An independent Chartered Accountant will certify and audit the accounts and all owners will be provided with a copy.

What is included

Individual owners will be responsible for maintenance and repair to their own property.  In cases where the owner is not the resident (private investor/housing association etc) a separate contract should be in place setting out individual rights and responsibilities, but this is outside the scope of Keir Hardie Management Company Limited.

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Service Charge

About Canning Town

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