Service charge cycle
This information applies to homeowners. If you are looking for information for tenants, please go here.
Service charge statements and estimates follow the same cycle every year. Below is an example of a typical year for your reference.
September 2018
Service charge accounts (your actual statement) for financial year 2017/18 are issued. Your statement shows whether a credit or debit adjustment has been applied to your account.
October 2018 - January 2019
We respond to any queries relating to your actual service charges.
November 2018 – February 2019
Preparation of service charge estimates for financial year April 2019 to March 2020 (2019/20).
February 2019
Service charge budgets and your estimated service charges for 2019/20 are sent to all homeowners.
April 2019
New Rent / Service charges for 2019/20 commences.
September 2019
Service charge accounts (your actual statement) for financial year 2018/19 are issued. Your statement shows whether a credit or debit adjustment has been applied to your account.
How we calculate your service charges
Costs are set out under four headings:
- Overall estimate for your building
- Overall actual for your building
- Your individual estimate
- Your individual actual
Unless your lease says otherwise, the overall costs are usually divided by the number of homes that receive a service.
For homes that are externally managed, we may use the same division of costs as the freeholder - for example, many managing agents’ service charges are a percentage share, based on floor area. If your lease says that costs are shared on some other basis, perhaps specifying the percentage of costs for which you are liable, that will be used instead.