How to approach arrears with your leaseholders to keep cash flow moving to ensure your budget and maintenance plan can be relied on.
Browsing: About Service Charges
If you live in a flat, you’ll be used to budgeting for your annual service charge, but how do you know if the amount you’re paying is fair?
A reserve fund held by the landlord or management company on behalf of the leaseholders can provide a distinct benefit.
Property managers will provide you with a clear overview of what fees and charges will be due, what they cover and how they will be spent.
This question is asked a lot; from first time buyers to people who have owned many properties before but never within a managed development.
We’ve put together a checklist to make sure you approach the situation in the best way possible and with the required knowledge of the law.
Service charges are payable annually to cover the landlord’s costs for providing services and maintaining the common areas of the building.
If a landlord wanted to carry out major works to a block that would cost any one leaseholder over £250, all leaseholders must be consulted.
In this article Phil Parkinson and Katie Edwards of JB Leitch, look at the nature, definitions and parameters of estate rentcharges.
Service charge is the money a leaseholder or a freeholder of a property, pays towards the day-to-day running costs of your development.