The Enfield Island Village Trust administers an estate rentcharge, under the 1977 Rentcharges Act covering Enfield Island Village. This provides communal funding by local homeowners for the activities listed in the rentcharge document. An account of rentcharge costs is provided to affected homeowners each year. The rentcharge is payable in advance and for the year 2008/9 was £250.84 per property, payable within 21 days of the demand, unless you are paying by standing order.
The rentcharge is payable by all residential units within an area covering all of Enfield Island Village except for that part of Government Row that was built before the redevelopment of the Royal Small Arms site. It is payable by freeholders of residential houses and flats, unless there is in place a lease of seven years or more, in which case it is payable by the leaseholder. Commercial premises pay a negotiated sum.
The requirement to pay an annual rentcharge should have been explained to you by your solicitor when buying the freehold or leasehold. If in doubt, the land registry should show whether the rentcharge applies to your property.
The Enfield Island Village Trust applies the rentcharge to:
- Keep and maintain the EIV Trust's areas, river banks, canal basin and related surrounding area, riverside walkway and other walkways, the river wall, the landscaped ecological areas and public open space, the estate sewers, private pumping station, headwall and drains, the play areas and the private lighting on the estate.
- Effect insurance against the liability of the Enfield Island Village Trust or others in respect of the Trust's areas.
- Light, clean and maintain the estates roads, bridges and footpaths, other than those adopted by the local authority, in good repair and all service installations laid in or under the property and across the estate to which the service installations of the dwellings connect.
- The detailed calculation of the rentcharge for 2008/9 is set out below:
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Enfield Island Village |
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Annual rentcharge for 2008/9 |
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Direct costs |
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Abandoned vehicles |
£250.00 |
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Canal arm and basin maintenance |
£2,420.00 |
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Canal arm and basic pump |
£770.00 |
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Community centre |
£9,000.00 |
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Drains, pumps and repairs |
£30,432.83 |
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General repairs and maintenance |
£19,950.00 |
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Landscaping |
£72,675.00 |
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Litter |
£15,824.10 |
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Life savers |
£70.00 |
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Pest control |
£1,000.00 |
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Clay cap inspection |
£7,552.90 |
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Sub total direct costs |
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£159,944.83 |
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Overheads and indirect costs |
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Audit fee |
£1,050.00 |
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Legal costs |
£6,000.00 |
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Companies house registration |
£30.00 |
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Insurance: |
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Directors' indeminity insurance |
£945.00 |
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Narrow boat |
£187.03 |
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Inspection contract |
£525.00 |
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3xchildren's play areas} |
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Single lane bridge } |
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Water tower } |
£5,227.03 |
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Planter } |
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Public liability } |
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Metal bridge } |
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Community hall buildings |
£699.16 |
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Community hall liability |
£693.79 |
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Managing agent fee |
£48,273.00 |
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Water rates |
£5,000.00 |
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Gas |
£1,200.00 |
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Electricity |
£9,570.00 |
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Telephone, postage and printing |
£7,221.50 |
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Sub-total overheads and indirect costs |
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£86,621.51 |
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To reserves for long term major expenditure |
£82,783.87 |
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From reserves |
Nil |
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Sub total reserves |
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£82,783.87 |
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Total rentcharge for year: |
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£329,350.21 |
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Divided by the number of residential units: |
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1,313 |
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= Rentcharge per unit |
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£250.84 |
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