When Do I Pay My Service Charge?
The timing of payments will be specified in the legal documentation under which your home is demised. This typically can be annually, half-yearly, quarterly or monthly. Most demises specify a service charge period of a year and this financial-year can start and finish on any date but will be clearly defined. Most modern demises also requires service charge expenditure to be estimated and collected in advance of service and maintenance delivery at the development.
Service charges are estimated shortly before the beginning of the forthcoming financial period and invoiced in good time ahead of the coming year so you always know in advance how much needs to be paid and by when. Realty offer the facility to spread the cost of payments over the course of a year regardless of the timing of payments specified in the legal documentation under which your home is demised. This ensures that making service charge payments is as easy as possible.
Further questions? Contact us.