Ringley estate management
Money Manager
Service Charge Statement S_account
Online Property Manager
Documents
Director

Your Service Charge Statement

How to read a statement

What is Service Charge?
Service charge is an amount payable by a property owner in respect of services, repairs, maintenance, insurance, improvements or costs of management (and the amount may vary according to the costs incurred or to be incurred).

A statement shows services charges and reserve fund demanded and payments you have made against the amount due. Where the lease allows a reserve fund you pay into 2 funds the "day to day" service charge pot and the "reserve fund" towards future cyclical works.

How to read a statement

  • Demand due dates are shown on the left,
  • amounts due colum 2,
  • amounts paid column 3 and
  • column 4 is a running balance.
  • If you are paid upto date the bottom of the running balance will say £0.
  • (£427.33) would mean you are in credit.
  • £427.53 means you need to pay £427.33

How and when service charges are payable is set out in your lease in the service charge clause

Looking after for you money - 5 key benefits

  1. Your money is held in a unique bank account just for your site
  2. All Client service charge bank accounts are interest bearing
  3. "Reserve fund" collections are ring fenced so they don't get spent on day to day items
  4. All Client monies are protected by the Royal Institution of Chartered Surveyors (RICS) "Clients Money Protection Scheme"
  5. Service charges are held in "Trust" for the benefit of the site not the individual

If you are selling

You cannot get a refund of service charges. Any apportionment between the buyer and seller is a matter for the conveyancing solicitors to resolve.


Getting the money in

Demand
we are required to send you a demand by post
Arrow_down
Polite-reminder
polite reminders are not legally required and these are sent out by email with a hardship policy in case you need help making payment
Hardship-policy
our hardship policy goes out with all late payments, simply because we would rather work with you and it may be possible to get your mortgage company to add the service charge to your loan
Arrow_down
Final-notices
a final notice is not legally required but we send out a final notice with our hardship policy by email before any matter is
Hardship-policy
our hardship policy goes out with all late payments, simply because we would rather work with you and it may be possible to get your mortgage company to add the service charge to your loan
Arrow_down
Solicitors-letter-1
before legal action Solicitors as part of the pre-action protocol set out in the Civil Procedure Rules we are required to send a letter before action to your registered billing address, this is called Solicitors Letter 1. The legal documentation for the property requires that if you change your address you must notify us in writing. To be fair to owners that do pay on time the Solicitors costs for writing to you are recoverable from you as administration charges under Schedule 11 of the Commonhold & Leasehold Reform Act 2002.
Solicitors-letter-2
if your billing address is different from the Property Address then to comply with the formal document service provisions we are required also required to send a letter before action to the property address. This is called Solicitors Letter 2. The legal documentation for the property requires that if you change your address you must notify us in writing. To be fair to owners that do pay on time the Solicitors costs for writing to you are recoverable from you as administration charges under Schedule 11 of the Commonhold & Leasehold Reform Act 2002.
Arrow_down
Lender
as a last attempt to avoid Court action, if there is a mortgage company we will ask them to pay what is due (by adding the debt to your mortgage), as often the mortgage company will want to help you and do this as their security may be at risk if Court action is taken. To be fair to owners that do pay on time the Solicitors costs for writing to any lender are recoverable from you as administration charges under Schedule 11 of the Commonhold & Leasehold Reform Act 2002.
Arrow_down
Court
Solicitors will advise us what is the best route to recover any unpaid monies due, this could be either a money claim via the County Court, or forfeiture proceedings (which start in the First Tier Tribunal). Again, to be fair to owners that do pay on time the Solicitors costs for writing to you are recoverable from you as administration charges under Schedule 11 of the Commonhold & Leasehold Reform Act 2002.
Arrow_down
Evidence
If an arrears case is defended then usually the case will centre around the audit trail of payment requests and any other matters raised. As Ringley's brand promise is 100% transparency most documents are already on the Ringley Gateway and as in any Court case the aim is to work together to achieve an 'agreed statement of facts' to simplify matters.
Arrow_down
Recovery
There are several recovery routes - these are set out in our 'post judgement' flowchart
Flow Chart

Service charge is the amount payable by an owner as part of, or in addition to, rent in respect of services, repairs, maintenance, insurance, improvements or costs of management (and the amount may very year to year according to the costs budgeted and unless the lease states otherwise Section 19(2) of the 1985 Landlord & Tenant Act requires that any over/underspend is usually credited to/recovered from the owner as a balancing charge),

Your Service Charge is due 24th June, 25th December, 25th March, 29th September with year end 31st July

Demo Person A, Flat 1, Demo block, London, NW1 9QS
0000S/003

Email me: Pdf print statement

Choose date range:
Start Date: End Date:
When Description Demanded Received Balance
08/01/2016 Service Charge all units due for 01/04/2016 - £495.64 -
08/01/2016 Service Charge all units due for 01/04/2016 - £495.64 -
08/01/2016 Reserve Fund Next 6 Months £95.64 - £95.76
08/01/2016 Service Charge all units due for 01/04/2016 - £495.64 £389.90
Due -£48
[updated on 28/04/2016]
(- means nothing to pay)
A negative balance means you are in credit. If you pay by direct debit this will be because you are accuring funds to pay the next bill due. The next demand due is shown on your statement. Otherwise perhaps you have overpaid or a credit has been applied to your account.