Leaseholders are required to pay an annual service charge which pays towards the cost of shared services and repairs and maintenance.
Depending on your building, the service charge could cover some or all of the following –
- caretaking, concierge or security services
- electricity used to light shared areas and the operation of controlled entrance doors
- cleaning of shared areas and stairways
- centrally supplied heating and water systems
- the provision and maintenance of communal TV aerials
- the provision and maintenance of fire safety equipment
- the provision and maintenance of door entry systems
- day to day repairs
- planned works and improvements
- the provision and maintenance of lifts
- the maintenance of shared gardens
- management costs of keeping records, processing accounts and payments and running offices or overheads
- buildings insurance
- calculating your service charge
You receive a letter each March telling you what your estimated annual service charge is for the coming year. We base our estimation on the costs for the previous year.
Your service charge is calculated based on the number of flats in your building. For example, if you lease a flat in a building which contains 112 flats, you pay 1/112th of the total cost.
At the end of the financial year you receive a statement breaking down the actual costs. If you have paid too much we give you a refund and if the actual costs are more than estimated you receive an additional bill.
How to pay your service charge
You can pay your service charge monthly, quarterly or in one lump sum at the start of each financial year.
Disputing your service charge
If you do not agree with a particular aspect of your service charge please telephone 01482 300 300.