Does the bodycorp need to notify owners of changes to arrears management before enacting. Or can simply change and say we are charging you interest on the arrears now?
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Thank you I didnt know that. In the lease of memorandum it states:
IF PAYMENT IS NOT MADE AND in default of payment thereof by the Lessee the' Lessors shall be entitled to demand interest on the amount or amounts: owing at a rate being one per cent. in excess of the average rate charged from time to time by Trading Banks on account current ,which is overdrawn
from the date when payment should have been made but such demand shall be without prejudice to the rights of the Lessors under this
lease PROVIDED ALWAYS that if any general rates and other levies fire insurances at other outgoings are hereafter assessed levied and
demanded in respect of the said flat as a separate dwelling or interest in the said land then the same shall he paid by the Lessee,
Does that mean the interest can only be charged 1% higher than the banks? Can they charge a chase up fee?
Are the rules supposed to be issued to all owners, and not just committee members?
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