Sinking Fund

Why do we need to contribute to a Reserve Fund Featured Image

Why do we need to contribute to a Reserve Fund?

Click on the video below to listen to Property Manager Jamie, explain why you need to contribute to a Reserve Fund.     “Your lease will dictate whether monies can be collected for a Reserve Fund. And if the lease confirms a Reserve Fund can be collected, then this will enable the Freeholder and their agent to plan financially for future works such as exterior or interior re-decorations. When the Reserve Fund is sufficient and major works can be carried out, the leaseholders may avoid any additional charges to cover the works.”

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Service Charges and other expenses Featured Image

Service Charges and other expenses

Today, we’re going to talk about Service Charges and other expenses that are likely to apply to any leasehold property you buy or rent. Service Charges If you pay a Service Charge, your lease will be set out explaining how this is organised and what can be charged.   You have the right to ask for a summary outlining how the charge has been calculated and what it will be spent on together with any receipts or paperwork.   You are entitled to this information from your Landlord. Ground Rent You do not have to pay Ground Rent unless your…

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