What are management fees?
There are different types of management fees. You may be charged for management fees because of services and repairs provided by a third-party contractor. It could be that we are providing these services, as well as producing service charge estimates and statements, and all the associated overhead costs.
There is also a 5% administration fee on the management company costs to cover our admin costs in processing and billing.
What does a Hyde management fee cover?
Management feeds generally cover overheads and administrative costs such as processing and billing.
Why am I being charged both a managing agent fee and a Hyde management fee?
Managing agent fees are the costs for having a managing agent oversee your services. Our management fees cover overheads and administrative costs such as dealing with billing and producing your service charge estimates and statements.
What happens if I have a managing agent?
Where there is a managing agent in place, they may be responsible for providing the service and then recharging us for this work. We will then include this as an item on your statement, as a managing agent cost.
Have another query? Head to FAQs about service charges.