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What are service charges?

If you have bought your home as a leaseholder you pay towards services and repairs to the building. This is called your service charge. Each April we estimate your service charges for the year, and issue you with invoices for these charges. 

At the end of the year, when we will know exactly what has been spent, you will either be credited for an overpayment or billed for the difference.

The charges are based on the total cost of the services and any works to the structure of your building. Internal works are your own responsibility.

Example:

Cheshunt House is a building with 10 flats

Caretaking to Cheshunt House £1000

New roof to Cheshunt House £10,000

Total £11,000

Divided by 10 flats in Cheshunt House = £1,100 each flat owner.

Find out more about your responsibilities by reading our Leasehold Handbook. For any homeowner query please email leasehold@b3living.org.uk