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Service Charge Statement
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Your Service Charge Statement
How to read a statement
What is Service Charge? 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
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
If you are sellingYou 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 inService 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 JulyDemo Person A, Flat 1, Demo block, London, NW1 9QS
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When | Description | Demanded | Received | Balance |
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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) |
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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. |