All residential properties on St Mary’s Island are subject to an annual rentcharge

A rentcharge is a legal obligation that attaches to a freehold property, and enables collection of a contribution to maintenance costs, and control through restrictive covenants.

On St Mary’s Island, rentcharges are attached to the freehold of all houses. They are also attached to the freehold of blocks of flats and maisonettes, so in these cases the rentcharges are collected from the block owner, who passes them on to individual lessees.

Rentcharge income is used by the Trust to help fund the maintenance of Island facilities (including the lifting bridge and the parkland), and towards overall estate costs such as security, insurance, and management.

Island rentcharges do not cover the maintenance of blocks of flats or their grounds – these are funded by service charges paid to the block landlord.

Each house is subject to a Fixed Rentcharge of £1 per annum, plus a Variable Rentcharge based on the number of bedrooms in the property (as declared by the developer at the date of first sale). The Variable Rentcharge increases annually in line with the increase in the Retail Price Index.

Rentcharges are due annually in advance on 1st April each year. They can be paid by Direct Debit. 

The rentcharge income is a contribution to the overall costs of maintenance of St Mary’s Island. Until the Island is fully developed, SEEDA makes a contribution to these costs in respect of the unbuilt houses. Chatham Maritime Trust also makes a contribution from its endowment fund towards the maintenance of key infrastructure on the Island.

Rentcharges are collected by Chatham Maritime Estate Ltd on behalf of the Trust.