Last year’s data was widely referenced by the BBC, other media outlets, and key stakeholders such as the G15 Housing Associations, demonstrating that rising service charge costs are beyond the control of property managers.
This initiative aims to bring transparency and clarity to the ongoing media narrative around ‘rip-off’ service charges. which is eroding trust between property managers and leaseholders, creating anxiety among leaseholders, and exposing building management professionals to the risk of abuse.
With continued media focus on rising service charges, misconceptions persist, fueling concerns that property managers profit from these increases. To address this, we must provide clear, evidence-based explanations to leaseholders, policymakers, and industry stakeholders about the rising costs over the past five years, which have often exceeded inflation due to increasing building maintenance and management expenses.
Fresh data is essential to present an accurate picture for 2025, and your data is crucial in helping us provide transparency and clarity.
What We Need From You:
- Selected service charge lines: From 2023 actuals, 2024 actuals or budgets, and 2025 budgets (no client approval required).
- Key cost elements: Breakdown of core expenditure categories, including repairs & maintenance, utilities, reserve funds, and insurance.
- Building characteristics: Property age, number of homes, client type (RMC, RTM, landlord, etc.), building height, and remediation issues to provide context for the budgets.
The success of the Index depends on you. Rest assured, all data is anonymised to maintain confidentiality, and the process is simple and time efficient.
Please support this vital initiative by submitting your data samples to Luisa Maroto at [email protected] by Friday 28th March. If you have any questions, we’re happy to help.
Thank you in advance for your support, time, and commitment to promoting transparency, accuracy, and fairness in the 'service charge' conversation.
