Frequently Asked Questions
Many leaseholders purchase a leasehold property without fully being aware of their responsibilities or infact the rules and regulations that they need to abide by. Our team are happy to help with any queries owners may have when living within leaseholder properties, however below are the most commonly asked questions answered. Should you require any further assistance please contact us.
Why do I pay a service charge?
Your service charge is your legal apportionment of the share of the costs of maintaining and insuring the communal areas of your building in accordance with the terms of your lease, for example, costs for cleaning the communal areas, ground maintenance, lifts maintenance, repairs and maintenance within the communal areas.
How do I know what my service charge is spent on?
At the end of each financial year, statements are prepared by an independent accountant showing income and expenditure for your property. The statements are circulated to all leaseholders, who can be provided with further details of any items of expenditure upon request. Should there be a management company in place then every year you will be invited to attend an Annual General Meeting of the company where the past years running of the property can be discussed.
How do I pay for my service charge?
As a leaseholder you will receive a service charge demand at the frequency that your lease dictates, typically annually, half yearly or quarterly. You can pay the demanded amount either by cheque or a standing order. If you have any queries regarding your service charge account or would like to set up a monthly standing order please contact us.
What if I have a maintenance issue?
As managing agents we would only become involved with the issue if the problem was within the communal areas or estate of the property. Anything maintenance related within your own apartment would be down to the responsibility of you to repair. Should you be aware of a maintenance issue on site please contact us.