1. Why do I pay a service charge?
Your service charge is your share of the costs of maintaining the communal areas of the building. These include hallways, grounds, roofs, lifts, cleaning and any other facilities shared by residents. Your lease will provide details of the items that are covered by the service charge and how they are apportioned.
2. How does Hillcrest Estate Management charge for services?
As a leaseholder, you will pay for our services by way of a service charge invoiced to you at regular intervals. You can pay the service charge either by cheque or standing order.
3. How is the service charge calculated?
Hillcrest Estate Management will prepare a budget for your property based on actual expenditure for the previous year. This will be approved by representatives of your Management Company or Residents Association with provision being made for any future anticipated expenditure.
4. How do I know what my service charge is spent on?
At the end of each financial year, statements are prepared by an independent accountant showing income and expenditure for your property. The statements are circulated to all leaseholders and property owners can inspect invoices/accounts by appointment.
5. What happens if I can't afford to pay my service charge?
Please contact your Account Manager directly to discuss various payment options.
6. What should I do if I want to discuss a maintenance or accounts problem?
Initially, please contact your appointed Property Manager and they will then be able to look into the matter further for you.
7. Why do I pay an insurance premium?
Leases usually dictate that the building be insured as a whole and the cost included in the service charge. This therefore ensures that all parts are insured. Contents of individual flats should be insured by the flat owner.
8. Can I have a satellite dish?
Most leases will not allow individuals to erect aerials. However, forward thinking landlords are now regularly updating to modern television facilities. Please contact your property manager to find out more.
9. Can I make alterations to my property?
Your lease will give details of your specific obligations. It is usual that Landlord's consent will be required for most alterations and that any structural alteration will be prohibited. Your property manager can usually advise you in this situation.
Links
Some links you may find useful:
The financial Services Authority (FSA) is an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000.
Association of Residential Managing Agents
The Association of Residential Managing Agents (ARMA) is the only body in England & Wales to focus exclusively on matters relating to the management of residential leasehold blocks of flats.
The Leasehold Advisory Service provides free advice on the law affecting residential long leasehold property and Commonhold.
Royal Institution of Chartered Surveyors
RICS is the leading source of land, property, construction and related environmental knowledge. They support 120 000 members worldwide, promote best practice, represent consumers’ interests and provide impartial advice to society, businesses, governments and global organisations.
