Service charge budget planner
Build a simple annual budget and see what each flat pays. Shares must follow your leases.
Adjust the costs, then calculate.
How this check works
A service charge budget sets out what the building expects to spend in the year: insurance, cleaning, communal electricity, repairs, safety checks, management and any reserve fund contribution.
Add each cost, then the planner shows what each flat pays. Shares must follow your leases, which set each flat's percentage or fraction.
Costs must be reasonably incurred, and every demand must come with a summary of leaseholders' rights and obligations.
Questions people ask
Can our budget include a reserve fund?
Only if the lease allows it. Money held is on trust for the leaseholders and kept separate from the agent's own funds.
What if the year's costs are higher than the budget?
Year-end accounts show actual spending. Costs incurred more than 18 months before they're demanded usually can't be charged, unless leaseholders were told in writing within that time.
Read our guide: What can a service charge include?. Want us to handle it? See Full block management.
General information about the law in England, not legal advice.