Your Service Charge Statement

What is Service Charge?
Service charge is an amount payable by a property owner in respect of services, repairs, maintenance, insurance, improvements or costs of management (and the amount may vary according to the costs incurred or to be incurred).

	Combined service charge & Reserve fund statement
	Just service charges (0000S/001)
	Just reserve fund (0000F/001)
	See what is budgeted for this year & how your budget is made up

A statement shows services charges and reserve fund demanded and payments you have made against the amount due. Where the lease allows a reserve fund you pay into 2 funds the "day to day" service charge pot and the "reserve fund" towards future cyclical works.

How to read a statement

• Demand due dates are shown on the left,
• amounts due colum 2,
• amounts paid column 3 and
• column 4 is a running balance.
• If you are paid upto date the bottom of the running balance will say £0.
• (£427.33) would mean you are in credit.
• £427.53 means you need to pay £427.33

How and when service charges are payable is set out in your lease in the service charge clause

Looking after for you money - 5 key benefits

1. Your money is held in a unique bank account just for your site
2. All Client service charge bank accounts are interest bearing
3. "Reserve fund" collections are ring fenced so they don't get spent on day to day items
4. All Client monies are protected by the Royal Institution of Chartered Surveyors (RICS) "Clients Money Protection Scheme"
5. Service charges are held in "Trust" for the benefit of the site not the individual

If you are selling

You cannot get a refund of service charges. Any apportionment between the buyer and seller is a matter for the conveyancing solicitors to resolve.