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Safe Home Income Plans |
A self regulatory group to safeguard against bad practice in equity release schemes offered to the market.. |
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Scheme Manager |
Responsible for the day to day running of a development and keeping an eye on the welfare of owners/residents.. |
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Scrivens Hearing Services |
For further information telephone 0121 622 2674 or http://www.scrivens.com
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Security |
Perhaps the biggest single reason people move to retirement housing: Security measures in retirement housing often include: entryphones, spyholes, window locks, secure bolts on doors, door chains, burglar alarms, prickly planting, pendants, pressure pads, CCTV, safes, smoke detectors, screamer alarms, secure gardens, gravel paths, wired windows, outside lighting on time switches, resident managers, neighbourhood watch schemes.. |
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Self-contained accommodation |
The physical attributes of retirement housing are similar to ordinary housing. You live in your own accommodation with your own front door and this means being self contained.
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Service Charge |
The costs of the services provided in a retirement scheme including the management fee are recovered through the service charge. This is usually levied quarterly and each year the level of services is reviewed at an owners/lessees annual meeting with the management organisation and the budget for the following year agreed and set. Annual accounts are audited so you can see when, why and where your money is being spent.. |
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Service Charge Calculation |
The costs of the services provided are normally divided by the number of properties and on some developments the larger properties bear a bigger proportion of the service costs. It is worth remembering though that 80% of the service charge costs are made up of items which benefit everyone on a development such as the alarm system, scheme manager, gardening, buildings insurance.. |
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Service Charge Costs |
On the whole these should be less than the costs associated with the sort of property people have recently moved from. Most people move to retirement housing for the convenience and greater security it offers and this often translates into smaller more manageable accommodation. Essentially you get the services you pay for but at reduced rates due to the economies of scale. For example to employ a gardener to keep tidy a quarter acre garden might cost £500 a year but half an acre split between 25 properties might be £150 each. Buildings insurance is much cheaper when it is split between 25 properties than single detached dwellings. Few people actually remember to tot up the real annual running costs of a house or apartment.
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Service Charge Items |
Typical items might include the following: The alarm system, the scheme manager and associated costs such as flat rental and office, heating, telephone and other bills, and the cost of providing relief managers. Buildings insurance, window cleaning, gardening, external repairs and maintenance, cleaning/redecoration of common parts and other amenities or facilities such as swimming pools; communal water rates, maintenance of boilers and lifts, contributions to sinking funds for major items of repair elat. |
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Service Charge Payment |
Normally quarterly for the services delivered and which are mentioned in the lease or agreement. Service charge payments can vary in that some schemes have you contributing to the sinking fund for major items of repair when the lease is determined. In these situations you may pay a percentage of the value of the property for each year of occupation. Typically this can be .5% for each year but sometimes more. This type of payment has the benefit of reducing the service charge payments whilst you have enjoyment of the property and you or your estate contribute to the reserve fund out of the sale proceeds of the property.. |
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Service Charge Review |
Management companies will provide all owners/lessees with audited accounts to be discussed at annual meetings. The level of services provided are determined by the owners/lessees as they are paying for the services. Increases in service charges should really be no more than the rate of inflation but sometimes they can significantly jump due to poor management estimating and budgetary control. Strict financial control with caring management is the aim of all retirement housing managers.
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Shared Ownership |
Where the landlord or some other organisation holds the ownership of a percentage of the property.. |
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Sheltered Housing |
All sheltered housing schemes fit within the umbrella of retirement housing but not all retirement schemes could be said to offer sheltered housing. Sheltered Housing as a rule usually offers not just a resident scheme manager but also an array of shared facilities and mostly these comprise a communal garden, guest accommodation, communal laundry, and communal lounge. Sometimes a mini-bus is provided for outings.
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Sheltered Housing Code |
Operated by the National House Building Council and is mandatory for all registered housebuilders. It requires that all prospective purchasers should be given essential information so that they can reasonably decide whether to buy a property and known as a Purchasers Information Pack. Also that each purchaser has certain specified legal rights mentioned in the code and outlined in an agreement between the developer and the management company.. |
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Sheltered Housing Network |
The Sheltered Housing Network is able to provide sheltered housing providers access to professional consultancy services in a wide range of areas. http://www.shn.org.uk
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Simply Stairlifts |
The UK's independent stairlift specialists. Telephone 0800 3160211 or http://www.simplystairlifts.co.uk. |
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Sinking Fund |
Same as reserve fund and into which contributions are made via the service charge to pay for major items of expenditure which occur infrequently. eg retiling a roof or replacement of a lift.. |
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Smoke Detectors |
Should be fitted as standard in houses and communal areas.. |
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Social Services |
Invaluable source of information and help providing practical help in the house through the support of a home help for a number of hours a day to advice on disability equipment, day centres to go to etc.. |
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Social Worker |
Able to advise on special facilities or other help provided by Local Authorities.. |
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Society of Retired Leaseholders |
For advice and help telephone 01942 676572. |
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SpaceAce Limited |
Cuts down on wasted space in kitchens and helps people who have difficulty in reaching out of the way places. The M100 SpaceStation is not a game but a new storage system replacing standard wall units. http://www.spaceace.eu.com
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SSAFA |
Grants available for those in need of help who have served in the Armed Services. Telephone 020 7403 8783 for further information.. |
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St John Ambulance |
Provide much needed help to the more elderly such as assistance with shopping or providing transport to and from hospitals. Much depends on the strength of the local organisation and how well funded they are. http://www.sja.org.uk
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Stamp Duty |
Has to be paid on any property over £250,000. Rates vary.. |
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Stannah Stairlifts |
Stannah is a family run company that manufactures and services a range of stairlifts including passenger lifts, micorlifts and power chairs. http://www.stannah.com
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Structural Alterations |
To the outside of a property you will not only need the consent of the management company but you will also be likely to need planning permission. Inside a property consent is unlikely to be given unless there are good reasons for doing so (to improve poor initial design) as the management company is concerned with the long term well being of the structure of the buildings.
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Structural Surveys |
Despite responsibility for the maintenance of the buildings usually being held by the management company, for which you pay through the service charge, it can still be sensible to have a survey carried out.
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Subletting |
Not all leases allow subletting so it is advisable to check the lease. Where it is allowed it will require the occupier to be the right age.. |
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Swipe card entry systems |
Easy to programe using a master card to add and delete users. http://www.lock-tec.co.uk
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