Harry Bloomfield Esq <
a...@harrym1byt.plus.com> wrote:
> George Miles brought next idea :
> > Neighbours deeds say 'share the costs fairly.'
> >
> > We have been sharing the cost of emptying it half each.
> >
> > To simplify, assume I have 4 bedrooms, they have 2.
> >
> > But now the bigger cost of thousands is coming up they are claiming that its
> > fairer if they pay a third, and i pay two thirds.
Another way might be to apportion based on relative property values, ie you are
both paying 1% (or whatever) of your house equity. That gives some measure
of how much value the tank would add to each property. (assuming
non-working drains would reduce the value by X% in each case) It also gives
some measure of affordability - if you don't have the cash, each side might
be equally able to raise a 1% mortgage against their value, even if the
values are different.
> I would suggest the fairest way, if you each have water meters, is the
> split the cost based on water consumption. Read monthly and the cost
> should be paid monthly, it should cover the eventual replacment cost
> and annual emptying cost.
I think the issue is the OP now needs to replace it, and they haven't been
saving up like this. Hence each party needs to pay for the
replacement upfront.
> That way, if the number in the house changes, they will contribute more
> within the month. It also means that if one house owner sells to
> someone else, their contribution will have been paid - no shock bills
> for the new owner.
How do you propose to arrange that? Unlike leasehold, there isn't a
management company to hold such a 'sinking fund', and there isn't a
leasehold obligation to pay into it. What if next door sells the house and
takes their share of the kitty with them?
You could form such a body, but there would be legal and accounting costs
involved. It might also be difficult if there are only two parties as
directors (any vote is likely to be deadlocked 50/50).
Although such a vehicle might have advantages in terms of billing: a regular
monthly charge, and occasional costs such as emptying are taken out of the
fee. Basing it on water meter charges might be difficult though, since you
may not be able to inspect the others' meter (if inside or on their
property). Possibly requiring annual submission of water bills might be an
option, but problematic if one side isn't cooperating.
Theo