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Our team of experts is here to provide you with the latest insights, news, and trends in the industry. Discover how POD unlocks the secrets of exceptional property management.
“The service charge on my two-bed flat is way more compared to my friend’s one in the building next door: Why?”
At POD, we are often asked why the service charge to a particular customer is different to that of a seemingly comparable property elsewhere. Whilst it might seem like an easy comparison, unfortunately, you are not comparing ‘apples with apples.’
Even when two buildings look similar from the outside, the way service charges are calculated can differ quite significantly. Here’s why.
POD’s Resident Led Approach to Service Charge
It’s no secret that the topic of service charge can be a contentious conversation. The property management industry often comes under scrutiny for confusion around residential service charge and what it entails. If a management firm isn’t implementing high levels of communication, residents can feel a disconnect between what they’re paying and what work they’re seeing done, with little transparency or control over the decision-making process.
Understanding Residential Service Charge
There is often confusion as to what residential service charge actually is and where the money is spent. Here, the POD team take a closer look at service charges, management fees, discussing why transparent pricing and communication is key within the industry, with a few examples along the way!