Q. What is Service Charge?

Answer:

Because you live in a managed development, a number of services are arranged centrally by the management company and the costs of these are shared by the owners in the form of a service charge. When you purchased your property, you entered into a lease or transfer deed which states the proportion of the various costs that you have to pay.

The lease or deed also states how the service charge is to be paid, on what items Heritage can spend the service charge on and how the service charge is to be accounted for.