What are actual service charges?
These are the actual costs for the services you received for the previous financial year. For example, the actual costs sent to leaseholders in September 2014 were for the financial year 2013/2014 (i.e. 1 April 2013 – 31 March 2014). An adjustment is carried out to leaseholder accounts in September for the difference between what was estimated and the actual cost. This can be a credit or a debit.
- Leasehold FAQs