My Service Charge

A service charge is collected to cover the maintenance of the communal areas within your development. The service charge varies depending on the shared services or areas of a development. When you receive a service charge demand, you will also receive a copy of the budget that includes a breakdown of what is covered. 

Please refer to your service charge demand or portal.

A ground rent payment is often made to the Freeholder. Please refer to your Lease for further details. If we collect the ground rent on the Freeholders behalf you will receive demand in a similar format to the service charge.

Paying into a reserve find is a sensible way of building for the future. Plant & Machinery replacement and cyclical decoration works are costly and need to be collected throughout the years to ensure there are no surprises. A reserve fund is an essential component of responsible property management.

By contributing to a reserve fund, you’re investing in the long-term health and value of your property while ensuring financial stability for the entire development.

Please speak to your local team or property manager.

Your service charge covers specific management and maintenance services for your development wheras your Council tax funds broader community services provided by the local council, such as refuse collection, social services, and education.

Service charges are designed to cover the costs of managing and maintaining communal areas and not individual properties or assets demised to a property. While an aparment block will show buildings insuarance it is important to note that this if for the building structure and not your individual contents. An individual policy would still be required. 

A year-end service charge account is prepared after the service charge year  and summarises actual expensiture against the budgetd amount for that year. While our budgets are always prepared with due dilligence unexpected expenditure can occur during the financial year. If actual costs exceed the budget, residents may need to pay the difference; if costs are lower, a credit may be applied to future charges.

If you would like to discuss payment terms please contact the team using the details on your demand.

An estimated budget is prepared annually which covers all contracted services, insurances, relevant fees and expected works in that year. Your individual contribution shall be collected based on your Lease or transfer.