Three ways to reduce your service charges
1) Ensure that you know where your service charge is being spent.
Under section 21 of the Landlord and Tenant Act 1985, leaseholders have the right to demand a summary of service charge costs. For further details of the processes involved and your rights and remedies go to www.commongroundoxford.com or see the article in this publication entitled “Service Charges – Do you know where your money is being spent”.
2) Shop around for contractors.
Many property managers have agreements with a small number of contractors and will often take a commission from those contractors in return for contracted work. These agreements are of little benefit to leaseholders as the lack of competitive tendering provides no incentive for a contractor to offer their best price.
Common Ground Oxford advocates competitive tendering and indeed obtains a minimum of three quotations for all work informing all contractors that they are in a competitive tender process.
For a free guide to choosing and appointing contractors go to http://www.commongroundoxford.com/Contractors.html
3) Ensure that your property manager agrees (contractually) to declare all and any commissions. Whilst it is not illegal to take commissions most property managers work to the standards of a respected professional body e.g. Royal Institute of Chartered Engineers (RICS) or Institute of Residential Property Managers (IRPM) and in general these bodies state that commissions must be declared.
The Oxfordshire Leaseholder
Common Ground Estate & Property Management Limited
Registered Office: 8 King Edward Street, Oxford, OX1 4HLCompany No: 7169211
Registered Office: 8 King Edward Street, Oxford, OX1 4HLCompany No: 7169211Common Ground Estate & Property Management Limited
