Ground rent is an annual charge, fixed in your lease for use of the land your building is on.
The service charge is to cover costs related to your property to:
Service charges paid by leaseholders do not fund services provided to tenants. There are 2 types of service charges:
Yearly service charges include:
They are estimated in advance and the actual charges are worked out at the end of each financial year. The charges we make depend on:
For more information on yearly service charges please refer to the Leaseholder’s Handbook.
Major work charges cover large spending on your block or estate – sometimes programmed several years in advance.