All you need to know - Riverstone Kensington - Flipbook - Page 13
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Redecoration and
refurbishment
- You need to redecorate the apartment in the 12 months before
you sell the apartment
- You don’t have to refurbish the apartment (e.g. replacing
bathrooms and kitchens) but we can arrange this if you want us to
Subletting
You’re not allowed to sublet or rent out the apartment
Insurance
Operator
Riverstone will take out buildings insurance, employer’s liability
insurance and public liability insurance. The cost is included in
the Membership Fee
Residents
Residents need to arrange their own home contents insurance
Sinking fund
There is no ‘sinking fund’ at Riverstone Kensington. We pay for
all major repair works, refurbishments and improvements using
contributions from the Deferred Fee which we charge you when
you sell your apartment. No extra costs will fall on residents
Restrictions on selling - All apartment sales have to be at open market value
- Buyers need to specify one person aged 65 and over who will
live in the apartment
- We do not have any contractual rights in the lease to buy back
the apartment from owners
We will always encourage you to discuss your housing options with your family
and friends. You should also get independent 昀椀nancial and legal advice before you
decide to buy a Riverstone apartment. You will also need to use a solicitor when it
comes to buying an apartment from us.
We are ARCO members. As Approved Operators, we aim to operate all our retirement
communities according to the principles laid down in the ARCO Consumer Code.
