Payments made by leaseholders to cover the cost of maintaining and managing communal areas.
Each year, we prepare a detailed annual service charge budget outlining all expected costs for the property/site. This includes routine maintenance, utilities, insurance, management fees and reserve fund contributions. Budgets are shared with leaseholders in advance and approved by directors in line with lease terms and best practice guidelines.
A fund built up over time to cover major future works, helping avoid large, unexpected costs.
Service charge payments are collected in accordance with each property’s lease. We use secure client bank accounts, fully separated from our company funds, ensuring compliance with The Property Institute (TPI) standards and legal requirements. We carry CMP (client money protection) insurance, meaning your funds are always secure. Every transaction is recorded and available for inspection upon request.
If a leaseholder falls into arrears, we follow a fair and transparent arrears recovery process. We send reminders, offer support where possible, and only escalate matters when necessary, always in accordance with lease terms and relevant legislation. We work closely with solicitors to recover any debt. Our goal is to maintain positive communication while protecting the interests of all leaseholders.
Yes, we believe in complete financial transparency. Leaseholders receive detailed year-end accounts showing exactly how funds were spent. Copies of invoices and supporting documents can also be reviewed upon request.
At the end of each financial year, independent accountants certify the service charge accounts, depending on lease requirements. This ensures accuracy, transparency, and compliance with best practice in property management.
We provide detailed year-end accounts, with supporting documentation available upon request.
Surpluses or deficits are dealt with according to the lease. If the lease allows the deficit can be made-up using the reserve fund, and the surplus can be added to the reserve fund. If the lease so specifies, a deficit may require a year-end payment to make up the funds, a surplus may be paid to the leaseholders.
Yes, we prepare long-term maintenance plans that forecast expenditure for the next 5–10 years. This helps ensure sufficient reserve funding spreads the cost of major works over many years and reduces the likelihood of large, unexpected costs.
Why Choose Us?
Unlike larger corporate agents, RBM offers a truly personal and bespoke service. We take the time to understand your development, your priorities, and your residents—delivering a management approach that works for you.
At RBM, you’ll deal with a team that genuinely cares, communicates openly, and is committed to making a real difference.
Let RBM deal with the stress and complications that come with property and estate management.
Please note: This number is for genuine emergencies only. Calls will only be returned if a voicemail is left with your name, contact number, and a brief description of the issue.
