Notices for the services charges and contributions to the reserve fund are issued in March and September with payments due on the 1st of April and 1st October respectively.   The payment notice for the building insurance element associated with each unit is also sent out annually for payment in the March/April period.   Any balancing charges for service charge overspends in previous periods are usually due for payment in the September/October period.   Notices for any ad hoc work (of an emergency nature or if the reserve funds are exhausted) can be issued at any time of the year.

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Prompt payment is very important to the cash flow for Termstake.  Delaying or withholding any payment (especially the service charges) can and does have a very negative effect on being able to maintain services and can prevent payments to suppliers, leading to unnecessary additional costs or, in the case of the insurance, the possible withdrawal of cover by the insurer.   Please do not assume that the timely payments of other owners will be sufficient and cover yours - it won’t.   Payments are due by the date shown on the notice of payment and late payment charges will be applied if there is a delay in receipt of the funds due.   
 

The Managing Agent can inform you of the current fees, contributions and other charges.

At the time of writing, Termstake can only accept payment by cheque, cash or bank transfer.  It is not able to implement payment by direct debit as that requires both considerable overhead costs and incorporation as a financially regulated credit agency organisation.   Details of how to pay fees due are included on the main notices issued during the year in March and September.