J106402 RS All you need to know - The Bishops Avenue AW (4) - Flipbook - Page 11
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Living in your apartment
Ongoing costs paid to Riverstone:
Membership Fee
Under Riverstone’s “Value in Choice” o昀昀ering, we o昀昀er three
di昀昀erent Membership Fee options
Option 1:
The monthly Membership Fee for di昀昀erent sized apartments is set
out below:
1 Bed
2 Bed
2 Bed (plus study)
2 Bed Duplex
3 Bed
3 Bed Duplex
2 Bed Penthouse
3 Bed Penthouse
3 Bed Penthouse (plus study)
£1,558.33
£2,058.33
£2,350.00
£2,350.00
£2,766.67
£2,766.67
£2,975.00
£3,308.33
£4,225.00
Under this option, the Membership Fee increases each year on 1st January in line
with in昀氀ation but cannot increase more than 4% in any one year. When you sell your
apartment, we increase the Membership Fee in line with in昀氀ation but without the 4% cap
Option 2:
The same Membership Fee for di昀昀erent sized apartments
as under Option 1 but fixed “for life” during your period of
ownership. When you sell your apartment, we increase the
Membership Fee in line with in昀氀ation
Option 3:
The same Membership Fee for di昀昀erent sized apartments as
under Option 1 but reduced by 50% and fixed “for life” during
your period of ownership. When you sell your apartment,
we increase the Membership Fee in line with in昀氀ation
Please refer to the Riverstone’s “Value in Choice” section on page 26 for further details.
If we want to change or add to the services for an additional cost, we will allow residents
to vote on the proposal 昀椀rst. We will only increase the Membership Fee if more than 50%
of residents vote in favour.
The monthly Membership Fee under Option 1 and 2 includes a £100 credit for you to spend
in our on-site restaurant each month. The credit is £50 under Option 3.
