Service charges and property costs in JLT

Use the statement for the property.

Service-charge comparisons need a verified year, applicable area basis and clear scope. Ask for the current statement or applicable approved index entry. Confirm whether any other recurring amounts apply.

Separate annual costs from transaction costs.

Build a budget with distinct lines for recurring building charges, utilities and cooling where applicable, maintenance, finance and the costs associated with the proposed transaction. Obtain current written figures from the relevant providers or advisers.

Compare the same basis.

A rate quoted per square foot is not enough if properties use different charging areas or include different items. Ask how the rate is applied to the exact apartment or office and whether any outstanding amount remains.

Buying a rented property

Review the lease and payment records with the relevant property documents. Ask for written clarification of the occupancy and payment position rather than relying on a general building description.