The service charge contributes towards all the combined costs and work involved in running and operating a management company and does not simply reflect the cost of maintaining an area of grass. In addition to the element of grounds maintenance, the other costs that are factored in include:
- Provision of Insurance (both Public Liability and Buildings Insurance)
- Accountancy fees and other company secretarial such as Annual Return
- Provision of a client bank account and the associated banking fees
- Managing Agents fees for all management and administration
- Provision of a reserve fund
For more information you can go to our Services page.