Apportionment

This explains how your share of estate and block costs is worked out. The split is set out in your lease or transfer agreement.

Common methods include:

  • Equal split – every home pays the same amount.
  • Percentage split – you pay a set percentage (usually defined in your lease).
  • Floor area split – your charge is based on the size of your home, so larger properties pay more.

Actuals (Service charge)

The end of year accounts showing the costs actually spent on providing services over the year. These will be broken by individual service, so you can what was spent for each element (e.g. cleaning, gardening etc.) compared to the original estimate.

Balancing Charge / Credit

This is the difference between what you paid during the year and what was actually spent:

  • Balancing charge – if actual costs are higher than estimated, you’ll need to pay the difference.
  • Credit – if actual costs are lower than estimated, we’ll credit the difference to your account.

Block

The building you live in, or a group of homes that share the same services.

Consultation

This is when we ask for your views before making certain decisions — usually for large or long-term works. If you’re a leaseholder, this is often done under “Section 20” rules.

Estimates

These are the predicted costs of services for the year ahead. They’re used to set what you pay at the start of the year.

Estate

The wider area your home sits in, including other homes and shared communal spaces.

Financial Period

The 12-month period we use to record and report service charge spending. This may not match the calendar year (January to December).

Freeholder

The person or organisation that owns the land and building your home is part of.

Head Lease

A lease held by someone who then grants other leases underneath it. You can think of it as the main lease, with other leases sitting below it.

Lease

Your legal agreement that gives you the right to live in your home for a set number of years. It sets out your responsibilities, including what you need to pay, such as service charges.

Leaseholder

Someone who owns the right to live in their home under a lease. The building itself is still owned by the freeholder.

Major Works

Large or long-term repairs or improvements to your building - for example, replacing the roof, updating communal electrics, or redecorating shared areas. These works usually involve consultation.

Reconciliation

This is the process we go through at the end of the financial year to check what was actually spent. It makes sure your charges are accurate and in line with your lease or tenancy agreement.

Service Charge

This is what you pay towards the cost of shared services - like cleaning, gardening, lighting, buildings insurance, repairs, and managing your building or estate.

Shared Ownership

A scheme where you buy a share of your home and pay rent on the rest. Over time, you can usually buy more shares.

Staircasing

This is when you buy more shares in your shared ownership home. As your share increases, the rent you pay goes down.