Service Charges
A service charge is a payment you make towards the services which are provided and maintained for your building and estate. When you first buy your property you get an estimated annual cost of the services we will provide. The first few years of service charge estimates in new schemes will not be calculated upon real costs and may, therefore, vary considerably from actual costs. This is because we have not built up a history of costs for running the scheme.
Our aim is to get estimates as close as possible to actual costs. The service charge year is 01 April to 31 March. We review the estimated charges each year and will send you a new estimate.
After the end of each service charge year, by 30 September, you will receive a summary of the final (or actual) costs for that year. If the actual costs have varied from the estimated costs, we will adjust your account for the following year. With your statement you will also receive a Summary of Rights and Obligations.
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