Arrears 2025-2026

📢 Reminder for Members with Arrears – 30-Day Deadline Approaching

A reminder to all members who received a letter regarding arrears: the 30-day deadline to either settle your account in full or contact us to agree a repayment plan is fast approaching — Monday 11th August 2025.

As detailed in the letter issued with your 2025–2026 Perpetual Rent Charge invoice, account statement, AGM notice, and Estate Newsletter:

➡️ Late payment fees have now been applied in accordance with the Association’s Terms and Conditions and legal advice received.

If no contact or payment is received by the deadline, your account will be referred to our solicitors for collection, and this will result in additional legal costs as well as ongoing fees.

🔍 If you believe your statement contains an error, or if any payments are missing, please get in touch as soon as possible so we can assist.

📧 Contact us: companysecretary@parkdriveresidents.co.uk

📄 Extract from the Terms and Conditions:

14.2 Arrears Administration Fee – £12.00
If your account is overdue by two months or more, a £12.00 administration fee will be charged per month. This fee covers the cost of managing your account while it remains unpaid and will continue until either:

• The outstanding balance is fully cleared; or
  
  

• Legal possession is taken through litigation.
  
  

This fee may be waived if you enter into a formal payment arrangement (monthly or quarterly) and:

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

• You keep up with each scheduled payment, ensuring the balance is cleared by the end of the financial year (31st March).
  
  

If the arrangement is not maintained — including underpayments or missed instalments — the monthly fee will be reinstated and applied to your account.

💡 To put it simply:
If your account is overdue by more than two months, a £12 monthly fee is added per unpaid invoice. If charges from multiple years remain unpaid, each year will accrue its own monthly fee.
These fees can be paused or waived only if you set up and maintain a payment plan with us.

Thank you for your cooperation and understanding.
– Park Drive Denton Residents Association