Running Costs


 



About your Running Costs

Sadly a lot of things can be a bit vague when it comes to running costs associated with the sale of a share. Some groups pay monthly, some six monthly, some yearly etc. Also some sellers INCLUDE the running costs to a point going forward, whereas some expect a buyer to take over the running costs from today etc.
 
Of course NONE of the above options are wrong, but it can all get a little vague or "muddled". For this reason, going forward, adverts must state EXACTLY how the payment of running costs are to be treated from the date of purchase.
 
There are several "Suggested" options, some examples are below:-

  • I would ask that the running costs are apportioned for each complete month of ownership in the current year. e.g. (say) Running costs £1,200, if purchased from mid June then incoming owner is asked to pay 1/2, £600 representing July - December

  • We pay by monthly standing order and the incoming owner would be asked to take over the running costs from the next payment due.

  • The running cost for the whole of this/next year have already been paid and these are included in the asking price.

  • My share is for a fix week(s) and if the incoming owner is using the week(s) shown on the advert then I would expect them to also pay the running costs for the week(s) owned.
 
Using one of the examples above (or your own thoughts) please explain how you expect the running costs to be apportioned.
 
What you CANNOT SAY is they this aspect is open for discussion, you MUST state EXACTLY how this aspect is to be agreed going forward from purchase. 

It should be noted that adverts placed before October 2018 do not show this information as this is a recently introduced request. 

One of 44 shares sold in 2015

One of 41 shares sold in 2016

One of 49 shares sold in 2017

several sold already in 2018