The service charge is the cost of maintaining and insuring the communal areas of your building. Within your Lease or Agreement it will specify exactly what the service charge is to contribute to as well as providing you with further details of what your financial responsibilities are.
Each year SBA will prepare a draft budget breaking down each responsibility (such as insurance, cleaning of the common areas, general repairs) based on a number of factors including the previous year’s spend and future plans. The total is then split between the owners based on the Lease or Agreement apportionments.
You are obligated under the terms of your Lease or Agreement to pay your service charge and may face legal proceedings if you fail to comply. If you are having difficulties in paying your service charge, please contact us immediately.
The collective service charge payments are held in statutory trust accounts in accordance with Section 42 of the Landlord & Tenant Act 1987. The money is in a client named bank account.
We can accept bank transfers, standing orders or cheques. You can also pay via our online portal through the MySBA link on our website.
sba property management is open Monday to Thursday 9.00am-5.30pm and Friday 9.00am-5.00pm
Please call us on 020 7629 4949 if you have an emergency issue, you will then be directed to the appropriate contact to resolve the matter.
sba have a single figure based management fee meaning that you are fully aware of the entire cost that you will pay per year. We are paid through the service charges that you pay so you are able to see exactly what and when we are paid each year.