Service Charge & Ground Rent

As part of our service, we prepare the budget of expenditure at the beginning of every financial year, as indicated in the property’s lease, which then needs to be approved by our client before demands can be produced. Service charge and ground rent (where applicable) demands are sent out in strict accordance with the terms of the governing lease.

Our accounts department then takes care of all financial aspects. Record leaseholders’ payments and chase late-payers when demands become due. They also deal with all invoices received from our suppliers and pay them after being approved by the property managers. They will also enter the invoices on our software and produce a quarterly account showing performance against budget.

Each client has a dedicated ringfenced bank account which assures the highest level of transparency and bank statements can be provided upon request of the client. We also reconcile the accounts on a weekly basis and liaise with the external accountants in order to have the accounts finalised as soon as possible after the end of the financial year.

All our leaseholders are provided with unique login details to our online system where they can find financial information related to the building (e.g. a copy of the budget of the latest completed service charge accounts) and their flat (e.g. check their service charge/ground rent balance, produce a statement for tax purposes and, where sites have opted in, make online payments).

We are members of the Client Money Protect, which provides peace of mind to our clients by covering and protect their money from potential frauds.

If you want to enquire about property management services, please fill out our relevant contact form and a member of the Tamesis Group will be in touch soon.

Alternatively, you can call us on 020 7101 3901