Leaseholders costs

Leaseholders handbook

Service charges

Our charges are based upon the services we provide. These vary from year to year.

We estimate the service charge for the forthcoming year and send you this information at least 30 days before 1 April when the first payment becomes due, along with payment instructions.

By September we will have calculated the actual charges for the previous year, and you will be notified of this. If the actual charge is less than the original estimate, then a credit will be applied to your service charge account. If the actual charge is more than the original estimate then the difference will be added to your account.

Estimated payments are due on the 1st of each month. If you fail to make the payments, we may take legal action against you. It is very important you let us know if you have difficulty paying.

Leaseholder additional costs

Leaseholders are responsible for a number of additional service costs, which are classified as follows.

Management fee

We have to recover the cost of providing a leasehold management service from leaseholders who pay service charges, this is called the management fee. It is included and identified in your service charge.

The management fee includes the salaries of the staff who are employed to provide the service, office costs, building costs and computer costs among others.

Fees and disbursements

These are additional costs that we have to pay to any accountant, solicitor or other professional person.

Administration costs

These are charges payable under your Lease which are not service charges, insurance or ground rent.