From conversations with our residents, we know that many homeowners are not aware of the detail behind their service charge and management fee, plus the extent of work undertaken on blocks and/or estates. We believe in being transparent, so we hope this guide adds some context to exactly where your money goes:
Our management fees range from just £55 per property, per year, excluding VAT for a private housing estate, to over £300 per property, per year, excluding VAT, for a complex multistory block of apartments.
Our average management fee per unit is £145 per property, per year, excluding VAT.
We manage your property for a few pence more than the cost of a weekly coffee, less than a monthly Netflix subscription and two thirds less than the average annual cost of car insurance:
Source: Starbucks coffee prices, Netflix subscription prices, average cost of annual car insurance. Prices correct as of April 2021.
Our role as managing agent is to keep your scheme safe, secure and compliant, and we believe this is exactly where our value lies. Your management fee doesn’t just buy our services, it also gives you access to our expertise, knowledge and experience in managing thousands of properties.
If you have any questions about the breakdown of your service charge or your management fee, please get in touch.