We appreciate how important it is for Leaseholders to have financial transparency and to fully understand where their Service Charge monies have gone thus far and how such monies are expected to be spent over the remainder of this financial year.
According to the terms of your lease, the financial year end for Winckley house is 30 November. The Service Charge period, therefore runs from 1 December to 30 November each year. At the end of each financial year, Service Charge Accounts should be prepared and released to all Leaseholders to show the past year’s expenditure. We understand that prior to our management, this information had yet to be provided.
In the section below on this webpage you will find a link to the Service Charge Accounts for the Year End 30 November 2020. This shows the block’s expenditure for the period 2 June 2020 – 30 November 2020. If Leaseholders wish to inspect documentation relating to these accounts they are welcome to do so at the following address: Beever & Struthers, St George’s House, 215 Chester Road, Manchester, M15 4JE.
Each Leaseholder has been sent a Service Charge invoice for the period from their completion date up to and including 31 May 2021.
Service Charges are calculated on a square foot basis and therefore vary from apartment to apartment.
Ground Rent invoices have also been sent to each leaseholder for the current period, 1 Jan 2021 – 31 Dec 2021.
According to the lease we are aware Leaseholders are entitled to pay their Service Charges monthly however to allow for efficient management we will send out invoices on a quarterly basis. Leaseholders can pay the quarterly demand monthly if they wish.
For information, the quarterly periods are as follows;
Quarter 1 1 Dec – 28 Feb
Quarter 2 1 Mar – 31 May
Quarter 3 1 Jun – 31 Aug
Quarter 4 1 Sep – 30 Nov
The next quarterly Service Charge invoice will be for Quarter 3, which will be sent out shortly.
Going forward Service Charges demands will be raised in advance and sent out approximately 4 weeks before the start of the Service Charge period to which they relate.
Ground Rent demands will be sent out in accordance with your lease for payment due on 1 December annually for the following period, 1 Jan – 31 Dec, with a minimum of 30 days’ notice.
In the section below on this page you will find a link to the Service Charge Budget for Winckley House for the period 1 December 2020 – 30 November 2021. This shows the estimated expenditure for this period. The total budgeted figure was given to us by the Freeholder, and we will make every effort to manage the block within these parameters.
Please note that the Service Charge monies collected are solely ringfenced for Winckley House and used in accordance with Schedule 7 of your lease. Any Service Charge monies not used within a period (a surplus) will be credited to the Leaseholder’s account to be deducted from the next Service Charge Demand. Equally, any expenditure over the estimate (a deficit) will need to be collected from Leaseholders as a Balancing Charge at the end of the accounting period.
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