- Category: Non-Rent Monies
Service charges at properties can be a hidden time-tomb just waiting to go off if you don’t understand them right from the beginning.
The idea is simple – to share-out costs for running and maintaining the shared parts of a property.
But the practice is complicated, with sudden charges and unexpected issues.
Therefore, whether you’re a tenant left to pay a service charge, a landlord working out how to operate and raise one, or an advisor stuck in the middle trying to communicate them – here are five key questions answered about them.
1. What is a Service Charge at a Property?
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