From February 2018, your service charge statements are looking different. The services you receive are itemised and divided under the new groupings, with a column for the total costs and a column for your share of the costs. This simplified layout provides greater visibility on the charges and costs that you have to pay.
Your statement explained
- Personal information
This includes your personal and property information. Please use your payment reference number for all correspondence with Hyde.
- Property groupings
The new property groupings which your services fall under. This includes area, estate, group, block, sub-block and property. Not all groupings are relevant to every property.
- Services and repairs
Examples of services and repairs provided to the new grouping. The services on your statement may be different to the example shown.
- Total costs
This is the total cost for all services in each grouping.
- Your share
This is your share of the total cost for the services in each grouping.
- Property costs
These are the administration and accounting costs involved in providing services and repairs. For home owners this will also include the cost for building insurance.
- (Surplus)/Deficit from previous years
If you are a tenant you will see a figure for '(Surplus)/Deficit from previous years' on your statement. This is the figure brought forward from the last actual statement. A surplus is a cost lower than the estimate and a deficit is a cost greater than the cost. If you are a tenant this will be carried forward to your statement and if you are a homeowner will be applied to your account.
- Your estimated cost
This shows the total estimated charge for all groupings and your share of this cost. This also details the frequency of your payment (weekly or monthly) and actual amount you need to pay.
How will my share of service costs be calculated?
Your service charge is made up of all the services you will receive under the new groupings. In some cases the new groupings may result in a change to the way we present costs to residents. Below are two examples that show the changes we have made.
Example 1: Bill for block cleaning for £10,000
- 4 leaseholders - Costs = £4000/Charge = £1000 each
- 6 tenants - Costs = £6000/Charge = £1000 each
- 10 residents - Costs = £10000/Charge = £1000 each
Example 2: New groupings for grounds maintenance
- Block 1 - 5 properties - Total = £5000/Charge = £1000
- Block 2 - 5 properties - Total = £5000/Charge = £1000
- Block 3 - 5 properties - Total = £5000/Charge = £1000
- Estate - 15 properties - Total = £15000/Charge = £1000