- Category: Non-Rent Monies
In a property context, service charges help spread the cost of looking after any communal or shared areas of a building between those who use and benefit from those areas. A block of offices or apartments would typically have a shared staircase and lift for everyone in the building; there would be shared walls and structural elements, and it may also have an external carpark and garden area.
All of these amenities must be maintained and serviced by the building owner or the management company, and although at first glance it may seem that the provision of these services is worth the tenants paying more rent for, the reality is that a completely separate service charge exists to cover these costs. This charge can vary significantly from...Write comment (0 Comments)