Block Management Service Charges
At Hastings Property Management, we understand that service charges are often the most sensitive and important part of block management. Clear budgets, timely collection, and full transparency are essential to keep your development running smoothly.
How We Manage Service Charges
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Collection – annual service charges, arrears, and any additional contributions are collected promptly and held in a designated client trust account for your property. Funds are always kept in accordance with the RICS Service Charge Residential Management Code and RICS accounting rules.
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Budgeting – each year we prepare a detailed service charge budget in advance. Rather than applying a flat increase, we methodically analyse forecasted costs and planned maintenance to ensure the budget is realistic and relevant.
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Arrears – service charge arrears are dealt with systematically and without delay, protecting the majority of leaseholders who pay on time and ensuring essential works are not compromised.
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Accounts – where required, a firm of independent chartered accountants prepares statutory accounts annually. If your lease provides for audited accounts, these can be arranged as well.
Why This Matters
Service charges fund the day-to-day running of your block: cleaning, gardening, insurance, repairs, and future maintenance. When funds are managed properly, your building is maintained to a high standard and leaseholders have peace of mind knowing that money is collected and spent fairly.
Our role as managing agents is to make sure:
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Leaseholders trust that funds are safeguarded.
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Directors and freeholders have clear visibility of accounts.
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The property benefits from proactive planning and timely maintenance.
Talk to Us
If you’d like to discuss how we handle service charge collection and management for your block in Hastings, Bexhill, Eastbourne, or anywhere in East Sussex, contact us today.