When is the Service Charge payable?

The Service Change is issued on an annual basis and must be paid by the due date shown on the invoice. Because most Management Companies’ financial years are the same as the calendar year, the service charge is issued at the start of the year.

It is in all owners’ interests that all monies in the budget are available, as a shortage of funds means that the Management Company’s (the property owners’) requirements cannot be met, and the complex will suffer, making all properties there less attractive and harder to sell or let.