Service Charges and Budgeting

What is a Service Charge?

Service charges are gathered by landlords in order to cover their costs for the up-keep of a residential property, such as a block of flats. These costs normally include buildings insurance, maintenance, managing agent fees, repairs, and other costs such as gardening and lighting and cleaning of the communal areas. Check your lease or tenancy agreement for more details on how your particular service charges are set out.

What We Offer

  • The preparation and¬†dispatch¬†of Notices regarding Ground Rent
  • Preparation and dispatch of Ground Rent and Service Charge Demands (this will be done on either a yearly or half yearly basis)
  • Collection and recording of ground rents and service charges
  • Preparation of arrears reminders, if required

Budgeting

An annual Proposed Budget of Income & Expenditure will be prepared and agreed with the Management Company Directors/Residents Association. This will include charges for buildings insurance, health & safety, cleaning, gardening and regular maintenance as well as a reserve fund.