What is the service charge?
This is the cost of maintaining Kings Court. Every lessee pays service charges to contribute towards the shared costs of the communal parts of the building and grounds, such as repairs, insurance, cleaning, gardening, routine maintenance, electricity, lift maintenance, water and the general day to day running of the development. Each lessees’ service charge proportion is recorded in the lease.
How is the service charge calculated?
Prior to the start of each financial year an estimate of the anticipated costs of maintaining Kings Court is calculated. In addition, an allowance is made for future anticipated expenditure for such items as redecoration, carpets, roofing and car parking.
How often is the service charge paid?
Your lease specifies when you are required to pay. Payments are every six months on 1 February and 1 August annually.
How is control exercised on activity?
The Managing Agent exercises day to day financial and operational control. Approval limits have been set to prevent unauthorised expenditure. The Directors receive quarterly financial, and quarterly physical inspection, reports from the Managing Agent. Regularly meetings are held to review all repair and maintenance activity and associated expenditure. The financial reports provide a comparison between the budget and the year’s actual spend. Consideration is given on how to reduce costs, whilst maintaining the standards expected in Kings Court.
What happens if the budget is exceeded?
Stringent financial control is exercised to try and prevent this from happening. At the end of each financial year an independent firm of accountants prepares the annual accounts which are then shared with all lessees. However, it is unlikely that the budget and actual expenditure incurred will be identical. If more has been spent, an invoice will be sent to each lessee to pay a share of the excess. If less has been spent, a credit is applied to each lessees’ account which reduces future invoices.
What is the reserve fund?
The reserve is a separate fund (in a separate bank account) to cover any unexpected maintenance or major works, such as painting, carpets, roofing and car parks. Interest is accrued on these funds.
What is the management fee?
A management fee is paid to the Managing Agent for the day to day operational management of Kings Court. They report directly to the Directors, KCML. The service provided includes responding to queries about the development, arranging all repair and maintenance activity, site inspections, arranging insurance, meetings with the Directors and providing advice on property related matters, management of the service charge account and sending out service charge invoices. They also organise any planned major works activity.
How is a contractor selected?
The Managing Agent maintains a list of approved contractors. When selecting a contractor consideration is given to their expertise for the job, the urgency of the work and their ability to respond within the required timescale and the desire to obtain the best price. If the job is classified as ‘major works’ a number of quotes are obtained before selection is made.
I have noticed a repair issue in the communal areas, what should I do?
Report it to the Managing Agent as soon as possible.
There is a leak in my property from the flat above – what should I do?
Firstly, contact the resident of the flat above, explain the issue and ask them to investigate and resolve the problem. If you are unable to contact the resident call the Managing Agent, explain the situation and ask if they will contact the lessee on your behalf. All pipework within the flat is the responsibility of the lessee.
If any damage is caused to your flat as a result of the leak, and you wish to make a claim on the block buildings insurance, please contact the Managing Agent who will provide you with the information you require.
I am selling my property – do I have to pay my Service Charge?
Yes – if you were the lessee covering any of the period relating to the invoice, the payment is due in full. You should request a receipt when you pay and pass this to your solicitor who will obtain a pro-rata refund from your purchaser.
No – if you anticipate selling your flat prior to the beginning of a new invoice period, pass the invoice to your solicitor.
Solicitors will usually write to the Managing Agent to determine whether there is any debt outstanding. Any outstanding payment may delay a sale.
I have received an invoice in someone else’s name – what should I do?
This may happen when a sale has occurred and your solicitor has not registered the assignment, as required by your lease. You should contact your solicitor to ensure that the position is rectified immediately.
Until registration takes place, the record relating to your property cannot be amended and, as the lessee, you are responsible for all charges. You should pay these and ask your solicitor to resolve matters.
My service charge is due for payment – what are my options?
You can pay your service charges in the following manner:
• Bank Transfer – instructions for payment are detailed on your invoice
• Cheque – instructions for payment are detailed on your invoice
• Standing Order – call the Managing Agent to make the necessary arrangements.
There is no facility to pay by debit or credit card.
I wish to alter my property – is there a fee?
Lessees obligations are contained within the terms of the lease. We are obliged to have full details of all proposed changes to ensure any fire, local authority, planning or building regulations are complied with. It must also be clear that there are no detrimental effects on other lessees. You should contact the Managing Agent before any works commence. The fee payable will depend on the complexity of the work proposed. The work may not be approved.
I wish to sub-let my property – can you help find a tenant?
No. This is not within our remit.
I want to sub-let my property – is a fee payable?
Lessees obligations are contained within the terms of the lease. We are legally obliged to have full details of all tenants in order to comply with the leases associated with the development.
The lease states that lessees must obtain prior consent of any such arrangement and that any agreement made is a shorthold tenancy, or one similar, which does not create any right of tenancy after the term of the agreement has expired.
The lease also states that the sub-tenant must enter into a ‘direct deed of covenant’ to ensure they comply with all the terms contained within the Lease.
Solicitor’s costs for the preparation and completion of the ‘deed of covenant’ will likely be payable by the lessee.
You should contact the Managing Agent and there will be an administrative charge by us for the issue of the appropriate consent.
I can’t afford to pay my service charge – what do I do?
We understand that personal circumstances can change and, occasionally, some lessees may find they have difficulty in meeting their service charge payment obligations. Please seek advice from the Managing Agent if this arises.
I pay by standing order – why are invoices issued?
All invoices for service charges are due on 1 February and 1 August in accordance with the terms of your lease. Although the account may be settled monthly by standing order, our Managing Agents will always provide a demand for payment by the respective due dates. Invoices will be sent for information only.
I have a home contents insurance policy – why do I pay buildings insurance within the service charge as well?
Under the terms of the lease we are required to insure the development, excluding your personal belongings and home contents. A copy of the insurance policy is available on request from our Managing Agent.
Can I keep a pet?
Under the terms of your lease, if you require to keep a domestic pet you must get the prior written permission to do so. You should contact the Managing Agent to discuss your situation.
If I have a complaint, what should I do?
It depends on what the complaint concerns and the following may offer some guidance.
• Please Contact, Juan Antelo , Property Manager, Bartholomews
- juana@bartholomews.com 020 8546 9441
If you are a sub-lessee you should contact your lessor or Property Agent in the first instance.
Why do we need KCML?
KCML, through the Board, have a legal responsibility to protect, manage and administer Kings Court in accordance with the obligations of the Management Company in the long and commercial leases. Some of the activity required is delivered through a specialist outsourced service provider (Managing Agent)
How do I become a shareholder?
All lessees are entitled to be a member and shareholder of KCML on the basis of one lease = one share.
Can I attend the Annual General Meeting (AGM)?
All shareholders can attend the AGM and vote. Anyone living in Kings Court (lessees and sub-lessees) can attend the AGM but only shareholders can vote.
What is Ground Rent and why is it paid?
This is rent paid under the terms of the lease by the owner of the flat to the owner of the land (freeholder) on which it is built. Payment details are contained in the lease.
Is there a Privacy Policy?
Yes. This policy sets out how KCML uses and protects the information that you give us. We take your privacy seriously and are committed to ensuring it is protected. Should we ask you to provide specific information, it will only be used in accordance with this privacy statement.
You are encouraged to read this policy carefully.
Please note that MTVH (Metropolitan Thames Valley Housing) have a separate lease and are subject to their own obligations resulting from this. If you are sub lessee of MTVH and are in any doubt as to what actions are required you should discuss the matter with your Property Manager, who can be contacted on 0300 456 2929.