Let Us Explain What Service Charges Are

If you're purchasing an apartment, you'll pay a service charge.

A service charge is a contribution towards the cost of maintaining, managing and protecting the shared parts of your building. As an apartment owner, you'll benefit from communal facilities and areas that all residents use, and the service charge helps ensure these are kept safe, clean and well-maintained.

Depending on the development, your service charge may contribute towards:

• Building insurance
• Maintenance of communal hallways, entrances and stairwells
• Lift servicing and maintenance
• Fire safety systems and inspections
• Cleaning of communal areas
• Lighting and electricity for shared spaces
• Grounds maintenance and landscaping
• Building management and administration
• Future planned maintenance and repairs

Service charges are calculated based on the expected cost of providing these services and are not designed to generate profit. They help ensure your building remains a safe, attractive and enjoyable place to live, both now and in the future.

If you're purchasing a house, you may instead pay an estate charge.

An estate charge contributes towards the upkeep of shared spaces and facilities across the wider development that are used and enjoyed by all residents. This helps maintain the appearance, safety and quality of the neighbourhood as a whole.

Depending on the development, an estate charge may contribute towards:

• Maintenance of landscaped areas and green spaces
• Play areas and communal facilities
• Private roads and pathways
• Sustainable drainage systems
• Boundary features and communal infrastructure
• Estate lighting and signage
• Estate management and administration

Unlike a service charge for apartments, an estate charge does not usually cover the maintenance of your home itself. As the homeowner, you remain responsible for maintaining your property, whilst the estate charge helps look after the shared areas that benefit the entire community.

Before reserving your home, we'll provide a clear breakdown of any service charges or estate charges that apply, so you can fully understand your ongoing costs.

The services included will vary between developments, but may include:

• Maintenance of communal hallways, entrances and shared spaces
• Cleaning of communal areas
• Grounds maintenance and landscaping
• Building insurance for apartment buildings
• Lighting and electricity for shared areas
• Lift servicing and maintenance (where applicable)
• Fire safety systems and equipment maintenance
• Window cleaning to communal areas
• Bin stores and waste management areas
• Management and administration of the development
• Contributions towards future repairs and maintenance

Your individual service charge breakdown will be provided before you reserve your home, so you'll have a clear understanding of what is included.

Your charges will cover a wide range of maintenance and repair costs, including:

• Administration management fee
• Building insurance

Sinking Fund:

• Building cyclical external decoration
• Building roof
• Building windows
• Building cycle store replacement
• Decoration Internal Communal Area
• Communal Floor Finishes
• External Lighting
• Gutters & Downpipes
• Automatic Opening Vents
• Fire Alarm
• Communal Doors
• Main Entrance Doors 
• Door Entry / Intercom System
• Electric Vehicle Charging Point 
• TV Aerial
• Flat Entrance Door
  
  

Apartment buildings naturally require more ongoing maintenance and management than houses.

Shared facilities such as lifts, secure entrances, fire safety systems, communal corridors, lighting and landscaped grounds all need regular inspection, servicing and upkeep to ensure they remain safe, compliant and enjoyable for residents.

Whilst these services come at a cost, they also help to maintain the quality, appearance and long-term value of your home.

It's easy to think of a service charge as an additional monthly cost, but it's important to consider the services it delivers.

Your service charge helps ensure:

• Shared areas remain clean, safe and well maintained
• Landscaping and outdoor spaces are cared for year-round
• Essential building safety systems are regularly checked
• Repairs are managed promptly when issues arise
• The development continues to be a place residents are proud to call home

Many of these responsibilities would otherwise need to be arranged and paid for individually.

Service charges are reviewed annually and are based on the anticipated cost of providing services for the coming year.

As costs can change over time, service charges may increase or decrease depending on factors such as inflation, utility costs, maintenance requirements and contractor pricing.

Any changes are communicated clearly, and residents receive information explaining how charges have been calculated.

Yes. Every development is unique.

The size of the development, the number of homes, the facilities available and the services required all influence the level of service charge.

This is why service charges can vary between different developments, even when the homes themselves are similar.

The amount you pay will vary depending on the development and the services provided.

We'll always be upfront about any service charge or estate charge associated with your home. These costs will be clearly outlined on our price lists and within the Key Information Documents that we provide and talk through with you during the buying process.

Our team will explain exactly what the charge covers, how it contributes to the upkeep of your building or community, and what this means for your monthly outgoings, so you can make an informed decision before reserving your home.

If you have any questions, we're always happy to help explain the costs and services associated with your chosen development.

We want every customer to feel confident about the costs associated with their new home.

Before reserving, you'll receive details of:

• Your monthly Shared Ownership costs
• Rent payable on the share you don't own
• Estimated service charges
• Any other ongoing costs associated with the property

Our team will be happy to answer any questions and help you understand exactly what your monthly outgoings could look like.

Buying a home is one of life's biggest decisions, and understanding the costs involved is an important part of the process.

If you'd like to discuss service charges, Shared Ownership or any of our developments, our friendly team is here to help.

• Email: sales@geckohomes.co.uk
• Telephone: 0330 995 1333