Clear Service Charges, No Surprises
Most disputes in a block start with money - a charge nobody can explain, a budget that arrives late, a major works bill that lands without warning. We run block finances so that never happens.
Financial Administration, Done Properly
Service charge accounts need to be accurate, timely and open to scrutiny. We treat all three as the baseline, not an upgrade.
Budgeting & Forecasting
An annual service charge budget built line by line from actual costs, issued in advance so leaseholders know exactly what they are paying for and why.
Transparent Accounting
Every invoice logged against the block it belongs to. Leaseholders can request to inspect the financial records at any time - a statutory right we make easy rather than awkward.
Reserve Funds
Sinking funds built and held for major works such as roofing, decoration and lift replacement, so a large bill never lands on residents without warning.
Protected Client Money
Client funds are held in designated client accounts, separate from company money, and covered by Client Money Protection through the Bernards group.
Where a Service Charge Typically Goes
Every block's budget is different, and yours is set from your own block's real costs - not a template. This is an illustrative example only, to show the kind of categories a budget is usually split across.
Illustrative example - not the budget for any specific block
| Budget category | Typical share |
|---|---|
| Repairs & maintenance | 22% |
| Reserve / sinking fund | 20% |
| Buildings insurance | 18% |
| Management fee | 16% |
| Cleaning & grounds | 14% |
| Communal utilities | 10% |
Your own budget is issued as a full itemised breakdown, not a percentage chart - this is simply here to show how the categories tend to work in practice, before we build the real numbers for your block.
How We Set & Manage Your Budget
Review historic costs & reserve requirements
We start with what the block actually spent last year, plus any upcoming major works, lift or insurance renewals already on the horizon.
Draft an itemised budget
Every cost is broken down by category - cleaning, grounds, utilities, insurance, management fee, reserve contribution - not bundled into a single number.
Issue the budget in advance
Leaseholders receive the budget and their individual demand ahead of the service charge year, with time to query anything before it's due.
Monitor in-year & reconcile at year-end
Spend is tracked against budget through the year, with a year-end statement reconciling actual costs against what was collected.
You're Entitled to See the Numbers
Leaseholders have a statutory right to a summary of service charge costs and to inspect the supporting invoices.
We treat that as the minimum standard, not a hurdle - directors and leaseholders can ask for a breakdown at any point in the year, not just at renewal.
Service Charge FAQs
How do you calculate my service charge?+
What happens if a leaseholder doesn't pay their service charge?+
Can I see the accounts for my block?+
What is a reserve fund (sinking fund) and why do I need one?+
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