What is Service Charge?
The service charge is what you, the leaseholder, pays to cover the cost of maintaining the communal areas of the development your property is part of.
The type of day to day costs your service charge usually covers include:
• grounds maintenance
• stairwell / corridor cleaning & redecoration
• window cleaning
• repairs
• external redecoration
• buildings insurance
• administration eg accounts, management agency fee
Your service charge is an ongoing cost, usually paid monthly, quarterly, half yearly or annually. Check your lease for exact details.