Please find below a listing of common charges that are covered by your annual service charge:
Insurance block & public liability
Electricity for common areas
Sinking Fund
Waste Disposal
Fire system maintenance
Rodent control
Cleaning of communal areas & Window cleaning
Landscaping
Security
Drains maintenance
Accounts Preparation and CRO fees
AGM and Administration fees
Management Agents Fee
What is a sinking fund?
A proportion of the annual Service Charge is put aside for the replacement of major common-area items. The amount to be paid into the Sinking Fund is agreed at the AGM. Amongst some of the most common areas a sinking fund may cover is the repair, refurbishment or replacement of:
Building structures
Windows and walls
Roof and roof finishes
Internal partitions
Floor structure
Internal and External Decoration
Plumbing and Water services
Heating and Ventilating
Lifts and Escalators
Mechanical and Electrical Services and infrastructure.
How we deal with unpaid service charge?
We have a clear set of procedures and guidelines that we follow with all service charges taking into consideration the number of reminders, time limits, payment plans etc that we have issued to the owner. Only after all avenues have been tried and due notice given will the company solicitor be instructed to issue proceedings.
