What Does a Service Charge Offer?

9th August 2018

 

A service charge is an individual owners contribution towards the shared costs of running a multi-unit development.

This may be a small clos with a communal garden to maintain, but is more typically a flat or apartment development sharing the cost of buildings insurance, communal areas (including gardening, lighting, cleaning and maintaining), lift maintenance, regular window cleaning, security & fire alarm testing and administrative charges.

Shared responsibilities are set out in a schedule and enforced through charged covenants between owners.

In a small development, individual owners will often manage the development themselves; In a larger one, a management company may be formed (each owner having a share) and an agent employed to run the premises.

Service charges make light work of running a property and give peace of mind to the owner, particularly the frequent traveller, landlord or those seeking a more secure, low maintenance home.

For further information please email us at enq@cooperbrouard.com
or drop us a line on 01481 236039