Mayfair property management

London’s leading property management for residential blocks

Property Service Charge Management

Service Charge Estimates

Here at Mayfair Property Management Limited we provide an annual anticipated Service charge estimate for the coming year, to calculate service charges and reserves. We gather all the information for the coming year. Then we provide Directors with detailed financial information for their agreement prior to the issue of the coming years’ Service Charge estimate.

Once the coming years estimate has been agreed Mayfair Property Management Limited will provide an overall ‘Guide to Service Charge Estimate’ document, plus a broken-down estimate for each leaseholder, per their individual unit.

Circulate Service Charge Accounts

Here at Mayfair Property Management we produce and circulate service charge accounts and supply information to leaseholder/tenants and residents’ associations.

We appoint and assist independent auditors in the preparation and production of the annual Service Charge Financial Accounts, to comply with the Landlord and Tenant Act. Issue a copy of the final signed accounts to each leaseholder.

Demand payment of receipts

We produce, and issue tenant demands for payment of ground rent & service charge amounts in a timely manner, allowing for the prompt collection of service charge amounts.

Maintain efficient credit control

We use all reasonable endeavours to collect in a timely manner all Receipts payable by the tenants. To maintain an efficient credit control system and to pursue and recover any arrears. Debt collection action is taken where necessary.

Service Charge Credit

We ensure that tenant receipts credited to the tenants Service Charge account immediately following receipt of funds, either via bank transfer or cheque.

We take the utmost care with your time and property. Ensuring that we look over all the information to provide you with all the details. If you are looking for a new property management company, please contact us.

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