Typically £1,500–£4,000 per year for new-build city-centre apartments. Covers lift, concierge, gym, insurance, cleaning. Check the service-charge budget before buying, 5-year service charge trend is a strong quality indicator.
Lettings term
Service charge
Annual fee to cover shared-area maintenance in apartment buildings.
Related lettings terms
More from this category
AST
The standard UK residential tenancy agreement.
Section 21
The no-fault eviction notice used by landlords, being abolished.
Section 8
Grounds-based possession notice for breach of tenancy.
Tenant in Situ
A property sold with an existing tenant in place.
Void
Period when a property is empty between tenancies.
Article 4
Council direction restricting conversion of homes to HMOs.
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