Service Charge

The effective collection of Service Charge payments from leaseholders is integral to minimising the pressures of financially managing a site. SFP have tried and tested methods of making payments as stress free as possible as we know that everyone has different economic circumstances.

So what makes us different?

• We give the option of allowing the Residents Management Company the ability of facilitating their bank account. In most circumstances, this is with the added benefit of on-line banking making payments and administration as simple as possible. All we ask is that we have ‘read-only’ capability to assist in tracking payments.
• We allow payment to be made on a monthly, half yearly or annual basis. We have proved that contributions are less likely to fall behind if people can choose the payment frequency.
• Annual budgets are agreed at the beginning of the financial year and are only amended by majority vote during the Annual General Meeting. We know that a clear and accurate budget in which everyone signs up to is more likely to reduce non-payments
• We track service charges on a monthly basis and work with those who are having difficulties. We deal with leaseholders on a personal level and never have to use tough tactics to ensure payments. By delivering a great service, most never fall behind as there is clear evidence of where their money is being spent.
• We always aim to build a ‘reserve fund’ to ensure that there are monies to complete any works without having to issue a Section 20.