Leaseholders
Service charges
Calculating your service charges
The way your service charge or major works costs are calculated is set out in a document attached to your lease, called a ‘memorandum of apportionment’. We can change the way we calculate these charges, but only after fully consulting you.
There are 4 ways we calculate service charges:
A - by dividing the total cost by the number of homes that receive that service.
B - according to the number of bedrooms in your property.
C - by rateable value
D - according to whether your Caretaker is residential or not.
| Service |
Charging method |
| Management and administration |
A |
| Grounds maintenance |
A |
| Day-to-day repairs to your property |
A |
| CCTV |
A |
| Concierge |
A |
| Buildings insurance |
B |
| Communal electricity |
C |
| Day-to-day repairs to your block |
C |
| Communal heating |
C |
| Paladin bin and refuse storage |
C |
| Caretaking |
D |
Rateable values
Each flat or maisonette in a block has a rateable value, which is based on the amount of floor space. The block as a whole has a rateable value equal to the rateable value of all the flats or maisonettes added together.
Here is an example of how we calculate a leaseholder's share of the costs, based on rateable values:
268 (rateable value of flat) divided by 6576 (rateable value of block) multipled by £200.00 (total cost of works) = £8.15.
Calculating your major works bill
For commnual works we calculate the cost of major works for each leaseholder using the rateable value formular. When there are individual works e.g. windows these are recharged at 100% of the cost to the individual property.