The leaseholder of each flat is obliged under the Lease to pay regular charges as a contribution to Helena Court's routine maintenance and property management costs and to its reserve fund.
The level of the contribution for each flat is defined as a "percentile" in the particular Lease for that flat. The idea is that the higher a flat's value is, the higher the service charges will be. The percentiles for all the flats at Helena Court were calculated according to their relative value at the time leaseholds were first granted. This was done by reference to the "rates" system that existed at the time and which preceded the council tax. Since there are 15 flats, the average percentile therefore works out at 6.67%.
Further details about service charges can be obtained from the managing agent, to whom all service charges are payable, acting on behalf of the Residents Association as landlord.
Service charge payments should be made monthly by standing order. Please set the payment date for the 15th of the month.
These are the payment details leaseholders will need to set up the standing order:
Account Number: 38907239
Sort code: 23-05-80
Account name: HELENA COURT CLIENT
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