Service charge Flashcards
1
Q
Service charge
A
How do you currently calculate service charge?
2
Q
We calculate service charge on excel.
We review lease agreements, identify covered services, determine an annual budget and allocating costs to tenants
A
Do you send out a service charge certificate?
3
Q
Yes/No we send out service charge certificate.
A
So once calculated do you send out an invoice (service charge) to tenants?
4
Q
We send them an invoice/letter etc.
A
And how would tenants pay that?
5
Q
Tenants pay service charge via standing order or bank transfer.
A
Once service charge has been paid - how do you deal with service charge reconciliation/reporting?
6
Q
The finance team deal with service charge reconciliation
A
Is that a manual process? How long does it take you/the finance team?
