Costs & responsibilities
Your responsibilities
As a homeowner, you're responsible for maintenance, repairs and insurance, plus seeking approval for structural changes.
Contents
When you buy through Co-Ownership, you're not just getting a place to live. You're becoming a homeowner with all the responsibilities that come with it.
The difference is that you share ownership with us, which means there are a few additional things you need to know about.
Your financial responsibilities
Your property responsibilities
Things you need approval for
Things you agree to as a co-owner
Your legal responsibilities
Planning ahead
Being a co-owner means thinking ahead about the costs and responsibilities while you own the property, not just when you first buy it.
- We recommend setting aside money each month for repairs and maintenance, even if nothing needs fixing right now. Boilers break, roofs leak, and unexpected costs can crop up at any time.
- Review your insurance annually, making sure your level of cover is adequate and you're getting good value.
- Keep track of your service charges and any planned increases.
- Budget for your annual rent increase, which typically happens in April each year in line with inflation.
- Most importantly, contact us if you're unsure about any of your responsibilities or if your circumstances change in a way that might affect your agreement. We're here to help you understand what's expected, and support you in meeting your responsibilities as a co-owner.
Questions about your responsibilities?
If you'd like to talk through what's expected of you as a co-owner, or you have questions about any of the responsibilities set out on this page, get in touch with our team.
