Service Charges
Estimates
As your Landlord Maidstone Housing Trust own and maintain the structure, exterior and communal areas of the building in which your flat is contained. Any charges that relate to the upkeep of the building are passed on to you by the way of an annual Service Charge.
In April each year you will receive an Estimate of the charges we expect over the coming year. The year runs from 1st April to 31st March. With the estimate you will receive an invoice which you will need to pay.
Cyclical Maintenance (Sinking Fund)
Included in the Estimate is a charge for one fifth of the anticipated major works to your block and surrounding area. This money is held in a Sinking Fund Account for your property. When any major works are carried out to your block the amount held in the sinking fund will be deducted from any invoice sent to you.
Actuals
In September each year you will receive an Actual Statement detailing what we actually spent for the previous year. If we estimated your contribution for that year to be too much or not enough we will then credit your account or issue you with an invoice.
Management Charge
Maidstone Housing Trust is obliged to recover all expenses incurred in managing leasehold properties. This includes:
- Supervision and administration of services and repairs other than major works
- Costs of maintaining appropriate records and systems
- Cost of responding to leaseholders enquiries
- Cost of producing the service charges and the invoicing and collection of these charges
- Cost of consultation on major contract repairs and maintenance
This policy of recovering all expenses incurred in managing leasehold properties is accepted best practice.
Payment Options
There are two payment options available to Leaseholders with regard to the payment of Service Charges.
- Payment by a 10 month instalment plan (Direct Debit)
- Payment in full
It is important that you pay your service charges and major works invoices promptly. If you are experiencing difficulties making payment please contact our Finance team as soon as possible. If you do not pay your service charge you may invalidate your buildings insurance and at worst risk losing your home.
For further information on the above payment options or to set up a direct debit please contact our Finance Department on 01622 212516
date published: 01/09/2006