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Management Company Reserves Charge
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Management Company Reserves Charge
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dibbers006

Original Poster:

14,640 posts

249 months

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Monday 5th January 2009
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I have just been Invoiced for my 'Service Charge' for the Maintenance etc on the Flats I live in.

But there is a cost of £50 ish for 'Service Charge Reserves'

What is this?

I presume it is just for a contingency against unexpected costs? confused

NWTony

3,010 posts

259 months

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Monday 5th January 2009
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Management companies build up a reserve charge for long term jobs, such as redecorating, new windows etc. I'd make sure this is not a charge to cover people who don't pay their service charges.
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