Service Charge – Cost Savings and Refunds

Latest Refunds and Savings

With cost saving and refunds high on the agenda, I thought we would share some of the issues that we have dealt with this week…….

  • Double payment of insurance through service charge and direct recharges. So it makes sense to have the same adviser for both.
  • Rent (and service charge) start dates incorrectly administered. Don’t expect your AP team to pick this up.
  • Overpayments of lease expenses following downsizing or reductions after renewals. This will be relevant to short term Covid concessions as well.
  • Complications from changes from quarterly to monthly payments – don’t pay twice!
  • Electricity recharges wildly inaccurate and not based on sub meter readings. With split units this is becoming more of an issue.
  • Residential costs being charged to all tenants – are commercial viewed as the softer target?
  • Capped Service Charges – so many errors in the indexation and start/finish dates.
To benefit from savings across your portfolio, give us a call 01234 817240.
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