Principally, these will be the requirements to keep the inside of the property in good order, to pay (on time) a share of the costs of maintaining and running the building and common parts, to behave in a neighbourly manner and not to do certain things without the landlord's consent. For example, make alterations or sublet. The landlord has an obligation to ensure that the shared owner complies with such responsibilities for the good of all the other shared owners. These rights and responsibilities will be set out in your lease.

Rent
This is payable on the proportion of the property you do not own. This is reviewed annually according to the terms in your lease.

Service Charge
Some shared owners also pay a service charge. The law defines service charge as an amount payable in respect of services, repairs, maintenance, insurance or management costs. There may also be a contribution to the reserve fund. The service charge may vary in accordance with the changes in cost to Accent Nene in respect of these matters.

The landlord can only recover those costs which are reasonable. Shared Owners have powerful rights to challenge service charges they feel are unreasonable at the Leasehold Valuation Tribunal (LVT).

Reserve funds
For many there is special provision in the lease for a reserve fund or sinking fund which Accent Nene hopes will even out the cost of major works. These are large expenditure items which occur irregularly such as major repairs to such as roofs, window frames, car parks and driveways.

Accent Nene will consult all shared owners before carrying out major works. You will be given the chance to see estimates of the costs and your views will be taken into account before any work is begun. This arrangement ensures that both your home and the development will be kept in good condition.

Management charge
This covers the costs of dealing with matters relating to you and your property and is reviewed annually.

Buildings Insurance Premium
Accent Nene arranges building insurance; you make a monthly payment to cover the premium for your home. There is a £100.00 excess. You have to arrange your own contents insurance

Subletting your Home
Generally we do not allow subletting of all or part of your home. Your lease provides full details
What happens if the shared owner doesn't pay?
It is the shared owner's obligation to pay the service charges and rent promptly under the terms of the lease. If they are not paid we may contact your mortgage company to ask them to pay the debt. If the mortgage company do not pay the debt or there is no mortgage we may also apply for a County Court Judgement.

It is important to notify us if you are experiencing difficulties in paying as we can often set up an agreement with you.