Service Charge Management

Detailed and planned budgeting

Commercial service charge management is a crucial aspect of effective property management for multi-tenanted buildings. By ensuring shared costs are transparently calculated and fairly distributed we can provide operational efficiency, tenant satisfaction, and financial accountability.

A well-managed service charge provides landlords and tenants with predictable budgeting with no suprises. Regular inspections and detailed communication avoid unexpected reapirs and costs and ensures financial stability for all parties.

Our team has been specialising in managing service charge agreements across all sectors for decades.  Having invested heavily in the best property management software we can ensure our communcation with all stakeholders is second to none.  We embrace RICS regulations and with all that we do to ensure our service levels are maintained to a high standard.

Protect investments and avoid disputes

An effective service charge agreement will ensure a landlord is not only supporting tenants with pro-active management and maintenance of common areas, but will also protect their investment for the future by ensuring appropriate reinvestment when required.

We know the importance of establishing thoroughly detailed, planned and budgeted service charge agreements. As they are typically additional charges to rent, it is essential they are fully detailed in leases, and communicated to tenants if disputes are to be avoided.

By following the RICS code of Service Charges in Commercial Property, we can tailor any service charge schedule to any property or estate.

Budgeting for immediate and long term needs

A service charge budget must cover the day-to-day operational costs such as cleaning, security, maintenance, utilities for common areas, landscaping, and general property management.

It should also take into account longer term requirements, such as the repairs, maintenance and servicing which need to be carried out to meet compliance laws, and generate a surplus to cover any unexpected or unplanned required major investments.

Our clients are provided with detailed annual budgets outlining all anticipated costs for the current year, based on historical data, the costs of all service providers and all contractual obligations with contractors.

We ensure all service charge payments are collected in a timely manner, with established debt recovery procedures in place. Annual Service Charge accounts are issued within 3 months of ‘Year End’ date, and the Budget issued one month before.

Why choose Garness Jones for Service Charge Management?

Our management is aligned with your property's specific requirements and tenant expectations.

  • Transparent Financial Management: We pride ourselves on providing clear, detailed, and accurate service charge budgets and reconciliations. By keeping landlords and tenants fully informed, we build trust and prevent disputes.
  • Proactive Cost Control: Our team ensures cost efficiency without compromising on quality. From negotiating competitive local supplier contracts to identifying areas for savings, we manage every penny as if it was our own.
  • Tailored Maintenance Solutions: We prioritize the high service levels to maintain the standards of your property. Our service charges cover such as cleaning, security, and maintenance, keeping your building in top condition and your tenants satisfied. Adding our deep understanding of legal and industry standards, we ensure your property complies with all regulations.
  • Technology-Driven Efficiency: Our state of the art management system provide real-time reporting and data-driven insights, ensuring accuracy, transparency, and efficient operations.

Looking for Service Charge Management advice and support?

Contact Simon Preston, Director to find out more about how we can help.

07525 591744 [email protected]