Posted on 03 September 2024
Many customers will be receiving their service charge ‘actual’ statement this month, depending on the tenancy or lease agreement. Some customers only receive a statement in February, but some receive one in September too. Here’s why.
When the financial year ends, on the 31 March, we calculate what we’ve spent on services for that year. A September actual statement explains the difference between what we estimated back before that financial year started, and what we actually spent.
If we estimated too much, you’ll be in credit. If we estimated too little, you’ll be in a deficit. Customers in a deficit must pay the difference.
We don’t make any profit on service charges. We only re-charge to customers what we’ve already paid.
Our services
We provide a huge range of services for customers to make sure their homes and communities are well maintained, and safe places people can be proud of.
We don’t make any profit in collecting these charges. In fact, in the last five years we’ve subsidised costs for customers by around £10m. However, we realise this might not be reflected when looking at your statement, and want you to know that we’re here to help. Check out our helping hand pages for advice.
Please contact us right away if you’re worried about not being able to afford your rent or service charges. We commit that no one will lose their home if they’re struggling to pay and are working with us.
We’re working hard to get best value for money in delivering quality services, but the costs of providing services have increased in recent years. Factors like rising energy costs, insurance, and new government-required safety checks, have all seen some charges increase, which we know is difficult for customers.
We welcome all feedback and questions about your service charge statement. Log into MyAccount to get in touch.