Residential service charge _ is there a published index?

_Andrew_

If I wanted to gauge/benchmark the reasonableness of a service charge, is there a UK index that gives typical charges as a function of location and development size?

E.g. 2 bed flat in a 15-storey residential tower in London. 

Brie

for a posh bit of London or the worst bit?  for a place that has a garden, parking, lots of communal areas or not?  

really I think it's a how long is a piece of string question so no one price is going to be typical.  

saying that if you look on estate agent sites (rather than rightmove) you might find what is currently on the market and the service charges for those properties.  

SarahB16

Not that I'm aware of as there are far too many variables, e.g. location, rooftop swimming pool (or not), gym, concierge, etc.  It really does depend on what the service charges cover (and we all know there are some less than reputable management companies out there too).  Is this for a new build or not? 

You could pay privately and ask a valuer for their opinion of the service charges though as they will provide an opinion (but typically as part of a wider valuation for a lender who is funding the development).    

user1977

Is this related to your previous thread?

eddddy

_Andrew_ said:

If I wanted to gauge/benchmark the reasonableness of a service charge, is there a UK index that gives typical charges as a function of location and development size?

E.g. 2 bed flat in a 15-storey residential tower in London. 

Do you mean "reasonableness" in the legal sense - i.e. when the Landlord and Tenant Act 1995 Section 19 says...

• Relevant costs shall be taken into account in determining the amount of a service charge payable for a period only to the extent that they are reasonably incurred

If so, it sounds like you're looking in the wrong direction. Maybe it's easiest to explain with an example...

• Let's say the freeholder pays a gardener £1000 to cut the grass every week for a year, and 15% of the £1000 is added to your service charge bill

To ensure that's reasonable, you should check:

• Does your lease say that your lease says that the freeholder is responsible for ,maintaining the garden (and cutting the grass)?
• Does your lease say that you are responsible for 15% of maintenance and repair costs?
• Is it reasonable to cut the grass every week, or is it more reasonable to cut it every fortnight?
• Is £1000 a year a reasonable fee for cutting the grass - or would other gardeners have provided the same service for less money?

Or are you talking about the reasonableness of Management Fee that your management company adds to the Service Charge?