Existing shared owners

Service charge

All Leaseholders and some Freeholders will pay a variable service charge. This means that the service charge, including building insurance (where applicable), will be a specified proportion of whatever relevant costs we have incurred during each year.

An estimated service charge will be calculated annually before the start of each service charge year and any change in your contribution will usually take effect from the beginning of the service charge financial year.

You will be invoiced in February of that year. Payment can be made in one sum or alternatively it can be made in instalments. Please contact us to talk about the different payment methods and alternative terms of payment available.

The estimated service charge is based on the cost of providing the services and there will always be an adjustment to actual costs, usually within six months of the end of each service charge year.

The actual costs may be more or less than the estimated amount you have paid on account. Adjustment will be made by an extra charge or refund to you. You have the right to ask the Leasehold Valuation Tribunal whether a charge or proposed charge is reasonable.

Whenever we demand payment of an estimated or actual service charge we must send you a statutory statement of your rights and responsibilities. Please contact us if you would like a copy of this statement by logging onto your My Yarlington account and accessing the web chat facility.

Service charges will differ from one scheme to another. This depends on the layout of the estate, the type of property you have bought, the services provided and the terms of your Lease/Transfer. We are only allowed to charge for services specified in the Lease/Transfer unless residents agree to extra services being provided and this is recorded by a Deed of Variation to the Lease.

What will I pay for?

If you have bought a share of a house without any shared facilities, you may pay a service charge which will cover our management fee, and if appropriate Building Insurance (please check if this is applicable to you).                 

However, for all homeowners, if there are any communal areas such as pathways, courtyards, gardens or un-adopted roads, you will have to contribute to their upkeep and pay a proportion of the total costs as specified in your Lease. Where these areas are maintained the cost will be recharged to you by way of a service charge. This will be reffered to in your statement as a Third Party Management Fee.

If you have bought a flat, you will pay a service charge (as specified in the Lease) which may include any of the following services that we provide:

Buildings insurance, gardening and grounds maintenance, sweeping of grounds, external lighting, maintenance of bin area, routine cleaning of shared areas, lighting of shared areas, repairs to shared areas, re-decoration of shared areas, repairs to door entry system, TV aerial maintenance , exterior painting, roof renewal, window renewal, external lighting replacement, communal lighting replacement, resurfacing of pathways, courtyards and parking spaces, common drainage renewal, re-pointing of walls, boundary wall renewals, management charge, warden call system (schemes for the elderly only), external repairs to the building, installation of smoke detectors, any other renewals and repairs as specified in your Lease.

Monitoring the Service

If services are provided on your scheme, we will visit the estate regularly to ensure that the expected level of quality and service is being provided. We aim to provide good value for money and will respond to residents’ comments about the quality of the service.

Management charge

We must cover our costs of managing the Lease or Freehold transfer requirements and managing the services provided to you.

Our general overheads include the cost of monitoring and setting up services and meeting our responsibilities in your contract.

We are a non-profit-making organisation, although we must recover our costs.

Management charges will be reviewed each year and we will ensure that the charges are reasonable and kept affordable.

You have the right to ask the Leasehold Valuation Tribunal whether a management charge or proposed charge within the service charge is reasonable.

Will I receive accounts that show the service charges?

At the end of each financial year, we will prepare Service Charge Accounts for the services that you receive, including a Statement of Income and Expenditure, showing actual compared to the estimated service charge. This will be sent to you within six months from the end of the financial year in question.

The estimated annual cost of providing services to your property is normally split between all homes in a block. However, this is subject to the terms of your Lease. An estimate of cost will be sent to you annually in February. This gives you at least 28 days’ notice of the intended service charge.

Each year we add up the amount of money spent. If the total spent is less than our estimate, your service charge account will be in credit.

If more is spent than estimated, you will have to pay the difference to us and we will contact you to let you know how to pay this.

 
Contact our sales team on 01935 404006 or email shared.ownership@yhg.co.uk