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Service charges
What the charge covers, how it is worked out, and when the year is settled against what was actually spent.
What it covers
Service charges
The service charge exists to meet the shared costs of the development: maintaining the common parts, keeping the communal areas up, coordinating repairs, managing contractors, insuring the block and handling the administration around all of it.
Each development is different, so we do not pretend there is one figure for every building. What we do is set out what is included in writing, keep the records for the property, and reconcile the year against actual expenditure once it closes — and then explain the difference, in either direction, rather than leaving you to spot it.
Included
What you get
- A written statement of what the charge for your development includes
- Records for the property held and available to owners
- Annual reconciliation against what was actually spent
- An explanation of any difference, in either direction
- Meeting papers circulated in advance of owners’ meetings
- Statutory records kept, and insurance documents held current
Four steps
How it works
The budget for the year
What the development needs over the coming year is set out, and the charge is based on that rather than on last year’s total.
Spend during the year
Work is instructed and recorded as it happens, so there is a trail behind every item rather than a figure assembled at the end.
Annual reconciliation
The year is compared against what was actually spent, and any difference is explained to owners.
Questions and corrections
If an item looks wrong, ask for the breakdown. If something has been charged that should not have been, it is corrected and confirmed in writing.
Indicative band
Guide price
Property administration
Note. The bands above are guide figures for a typical development and are shown so you can judge the order of things before you speak to us. The figure that applies to your building is confirmed in a written quotation once we know what the development actually includes. Nothing here is a fixed price and nothing here is a fee we add on top without telling you first.
Talk to us
Ask about service charges
Tell us about the development and we will tell you plainly what we would do, and what it would cost.
Glen Bridge Management Company Ltd · Residential block and estate management · Contact us →