Why do I need to pay Service Charge?
When you purchased your property, you will have entered into a contract (such as your lease or Deeds / legal document) to pay a service charge to contribute towards the cost of services required at the development. The service charge is paid to cover the cost of maintaining the communal areas of your building, which can include: • Internal area maintenance and costs such as cleaning, fire safety and maintenance, door access/entry, lighting, and external window cleaning. • Grounds Maintenance and costs such as gardening services, tree surgery and inspection, drain and gulley cleaning and pest control. • Professional Fees: Management fees, Accountancy fees, Audit fees, Company Secretary fees, and Bank charges. • Contribution to Reserves: Renewals and cyclical repairs. • Insurance: Public Liability and Buildings insurance (Apartments only). Service charges are an estimate of cost, set annually in a budget, paid in advance, in accordance with the lease. Accounts are reconciled yearly and any surplus is credited back, or any unforeseen deficits are communicated and dealt with at year-end in accordance with the terms of the lease. The due date of these payments is specified within your lease. You can see a specific list of the items that your service charge covers in the annual budget.