Why Do I Have To Pay A Service Charge?
When the development was built, it was necessary for certain maintenance, services and/or facilities to be funded by the leaseholders or homeowners at the development that have use of those benefits through a service charge. This may be because a number of residents benefit from shared areas or services or because the local authority was not able to adopt certain areas of the development that require constant maintenance.
Because each home is required to contribute towards the service charge, the documentation under which each property is demised (the Lease, Transfer or Title Deeds) contains a legal requirement for the leaseholder or homeowner to pay their share. Your conveyancer should make you aware of all details surrounding the legal structure of the documentation under which your property is demised and any service charge or other mandatory obligations contained therein.
Further questions? Contact us.