Debtors Process

This is the process which is used in all cases to ensure that all maintenance fees are collected from all apartment owners.
This process has been designed to be fair to all owners and to ensure they have a full understanding of their responsibility to pay their fees in a timely manner.
This process has been reviewed and certified as legally binding by the Panorama Complex solicitor.

1). All owners are informed that their fees are due from May 1st of any given year by the Management Company, who send out the invoices. Owners are also reminded of our payment plan schedules.

Payment in full
Split in two halves
Quarterly or monthly or weekly

All owners requesting to follow an agreed payment plan must sign a form stating their intended payment regime.

All owners are asked that if due to unforeseen circumstances they have issues paying in a given year, they contact either the Management Company or the Committee so that we can work out a plan to help them.

2). Non payers are reminded on a 3 monthly basis by the Management Company that payment is due.

Regular reminders will also be included in the Complex Newsletter.

3). We allow until 1st September for owners to either agree a payment plan or pay their fees. If they fail to do so we send them a standard letter requesting payment and warning them that they have 14 days from the receipt of this letter to contact the Management Company. Failure to comply will result in them receiving a legal letter which will be at an additional cost to them.

4). All non payers access cards for the gym, pools etc will be de-activated until either a proven payment plan is implemented or full payment is made. There will be no exceptions to this rule and should installments fail to be maintained cards will be de-activated once again.

5). If payment is made or once a payment plan is underway and clearly working, we send the owner a standard thank you letter. In this way we hope to encourage owners to pay in future without the need for the debtors process.

6). Ultimately if payment is still not made despite all the above steps, legal action will be taken. Initially a letter will be sent by the Solicitor the costs of which will be borne by the debtor, if payment is still not received then formal legal action will be initiated.

In the hope of finding an amicable solution the Committee would happily take part in a mediation chaired by our solicitors before taking serious legal action.

7). The court action would also be at the cost of the debtors and in accordance with the guidance below from our solicitor a MEMO placed on the debtors property.

* In order for a creditor to be allowed to place a MEMO on a debtor’s property, firstly it needs to be a court judgment (through a successful lawsuit) which establishes the amount owed to the creditor. For example, the committee should initiate a lawsuit against the non-payer. After the judgment has been issued that orders the defendant to pay off the debt, the committee will have the right to place the MEMO on the property.

* After the judgement has been issued, the creditor is allowed to place a MEMO though the Land Registry office on whatever property the debtor has on his name.

* The MEMO is active for 10 years, however, the creditor has the right to extend it by 10 years at a time, by filing a Court Application and satisfying the Court on the reasons the MEMO period should be renewed.

*During the MEMO period, the debtor is not allowed to sell or transfer the property unless the debt is firstly paid off.