Welcome to Perpetual Rentcharge 

Payment Information

We aim to provide clear and transparent information to help you understand your Perpetual Rentcharge and manage your payments with confidence. 

Annual Perpetual Rentcharge for 2026–2027

• Period: 1 April 2026 to 31 March 2027

• Amount: £601.19

• Payment Due By: 31st of March 2027

This year’s charge is based on a structured budget designed to support the estate over the next five years. It incorporates the cost of planned works for this year, ongoing day-to-day maintenance, and contributions towards a reserve fund to deliver the remaining works identified in the independent risk assessment.

The budget also includes provisions for contingency and anticipated increases in costs, ensuring the Association can respond to unforeseen issues while maintaining long-term financial stability.

Supplementary Demand 2026–2027

As a result of moving to a structured five-year funding plan, the Association does not anticipate the need for a supplementary demand during the 2026–2027 financial year.

This approach allows all identified works, ongoing maintenance, and contingency provisions to be planned and funded within the annual charge, rather than requiring additional in-year requests.

While supplementary demands may be necessary in exceptional circumstances, the intention of this new budgeting model is to significantly reduce the likelihood of any further ad-hoc charges and to provide residents with greater financial certainty.

Simplified Payment Process

If you are in the process of purchasing a property on the estate, your solicitor will arrange the initial Perpetual Rentcharge payment for the first 12 months. Thereafter, the process is designed for convenience: 

Annual Billing: Each April, you will receive an invoice for the upcoming period and an account statement from us.

Payment Options:

You can choose how to manage your payments throughout the year.

• Flexible Payments: You may make any number of payments, of any amount, at any time during the year, provided the full balance is cleared by 31st March 2027.

• Single Payment: You may pay the full annual amount in a single payment at any time, as long as the full balance is cleared by the 31st of March 2027.

All payments must be completed in full by the due date.

For guidance purposes only, the annual charge is approximately £50.10 per month, spread evenly over 12 months starting in April 2026. The total annual charge is divided equally across the year. Due to rounding up to the nearest penny, the final payment may require an adjustment so that the total collected matches the exact annual amount, rather than leaving a small credit.

Convenient Payment Methods

Online Banking: Use your bank’s online payment facility for quick and secure payments. You may also arrange a Standing Order if you wish to pay regularly.

Payment Reference: Please ensure you include your invoice reference, surname, and property address when making payments so we can correctly allocate them to your account.

Please note: We do not accept cash or cheque payments.

Terms and Conditions

All Perpetual Rentcharge payments are subject to the Park Drive Denton Residents Association Ltd Terms and Conditions, which outline payment obligations, arrears procedures, and administrative fees.

The following summary highlights key sections of Clause 14 of the Terms and Conditions regarding arrears and administration charges:

Arrears Administration Fee – £15.00
If your Rentcharge account is overdue by two months or more, an administration fee of £15.00 per month will be applied. This fee covers the costs of managing overdue accounts and will continue to be charged until the balance is cleared or further recovery action is taken. 

This fee may be waived if you enter into and maintain a payment arrangement (monthly or quarterly), provided that: 

• Payments are made in full within 21 days of the invoice date; and

• Payments are made consistently to ensure the account is fully settled by the end of March, unless an extension is agreed in advance.

If the arrangement is not maintained, or payments fall below the agreed level, the administration fee will be reinstated.

A full copy of the Terms and Conditions is available upon request or by contacting the Company Secretary: companysecretary@parkdriveresidents.co.uk.

Arrears and Debt Recovery Policy and Procedure

The Association operates a clear and fair Arrears and Debt Recovery Policy to ensure all members are treated consistently while maintaining the financial health of the estate.

Our approach includes:

• Issuing reminder notices after one month of non-payment.

• Applying administration fees after two months of being overdue.

We always aim to resolve matters amicably before taking formal recovery action. Members experiencing temporary financial difficulty are encouraged to contact the Association as early as possible to discuss potential payment arrangements.

Important Note

To avoid any issues, please ensure that your account is fully settled by 31 March 2027.

Your contributions allow the Association to maintain and improve the estate for the benefit of all residents.

If you have any questions or need assistance, please contact the committee via the Company Secretary at companysecretary@parkdriveresidents.co.uk.

Payment Option Examples

Pay Perpetual Rentcharge in Full - £601.19

Pay Perpetual Rentcharge each Quarter - £150.30  for three months and a final payment of £150.29

Pay Perpetual Rentcharge Monthly Instalment for this period - £50.10 for 11 months and a final payment of £50.09