Invoices for annual charges
If you own the lease of a property, you are required to pay your share of the landlord's cost of maintaining and repairing the structure and common parts of your block and estate, as well as the management costs. These costs are known as the annual service charge. There is also an annual charge for building insurance and ground rent.
Annual service charges are invoiced on an estimated basis in advance of the year ahead. At the end of March we will invoice you for what we think it will cost to provide services from April to the following March. When the actual cost of providing services is known (September time), your service charge account will be adjusted to reflect the actual cost – resulting in a credit or debit being applied to your account. We will write to advise you of the actual cost and tell you the amount of any adjustment to your account.
For more information about annual service charges, please refer to the fact sheets below.
Invoices for major work schemes
Our Major Works Programme will benefit all of our residents. You will not pay towards internal works to tenants’ homes, but you will be required to meet your share of the costs of works to communal fixtures and fittings, external structure and fabric of the building.
Most major works costs will be invoiced on an estimated basis. When the actual cost is known at the end of the works, your service charge account will be adjusted to reflect the actual cost – resulting in a credit or debit being applied to your account. We will write to advise you of the actual cost and tell you the amount of any adjustment to your account.
You should contact us within 28 days of the date of the invoice for the estimated costs. We will talk to you about your options for paying for the works.
Some leaseholders may meet the qualifying criteria for a variety of flexible repayment options for invoices over £2,000.