Apartment service charges: what should you ask?

Service charges form part of both living and rental costs and can materially affect affordability. Request a recent statement of expenses and what the charge covers. A pool or security desk alone tells you little about operating costs or how they are allocated.

Practical steps

1. Review available management budgets, meeting decisions and planned works
2. Ask about arrears attached to the unit and how the transaction will address them
3. Distinguish routine charges from exceptional expenditure the development may approve

General guidance. Consult qualified professionals on legal, financial and technical matters specific to your transaction.