Service Charge Calculation and Collection
Service charges are paid every 3, 6 or 12 months as per the terms of the lease and a forecast is usually prepared 1 month before the year end for the next financial year.
At the end of the financial year, we aim to have the service charge accounts (audited by and independant auditor) circulated within 4 months and if a surplus/shortfall is apparent, we advise lessees accordingly.
Along with this we have strict processes and procedures for the collection of the service charges to ensure that payments are made on time. We work closely with debt collection agencies and solicitors to ensure service charge & ground rents are received on the due date as per the terms of the lease in order to provide services required to the property without having to experience cash-flow difficulties due to lessees failing to settle their service charges.
Maintenance of external areas
Arrangement for grounds work can be a key part of the block as it is the first thing that people will see. We aim to keep these areas including car parks, lawn and flowerbeds neat and tidy so it is pleasant for current and potential residents. Major work on the Block Major works are generally required periodically to ensure that the block does not depreciate over time. This will be analysed carefully to make certain that right options are taken for the situation and that the right company is contracted in for the job. Sometimes this is budgeted into the service charge and other times it may be billed out as an exceptional item but there is the always the potential for some.