Service Charge Transparency: Ensuring Fair and Efficient Budgeting

At Preim, we know that service charges - or estate charges as many often refer to them as - can sometimes feel complex. Residents of new developments may wonder: Where does my money go? or Why has my charge changed this year?  These are completely valid questions, but we believe that transparency is the key to trust and understanding when it comes to service charges and the important role they play in estate management.

What are these charges, and what do they cover?

A service or estate charge is a shared contribution paid by residents that helps maintain and manage communal areas in an estate. These charges typically cover:

• Grounds maintenance – Landscaping, cleaning, and general upkeep of shared spaces
• Repairs and maintenance – Ensuring communal areas remain safe and well-maintained
• Utility costs – Streetlighting, shared water supplies, or other communal utilities
• Insurance and compliance – Covering key estate requirements
• Reserve funds – Planning for future major works to avoid unexpected costs

How does Preim ensure fair and efficient budgeting?

We are committed to transparent and responsible service charge management, ensuring every penny is accounted for. Here’s how we do it:

• Clear and itemised statements – Residents receive detailed service charge accounts so they can see exactly how their contributions are used
• Competitive contractor pricing – We work with trusted suppliers to ensure high-quality service at fair rates
• Long-term financial planning – We proactively budget for future maintenance to avoid sudden cost increases
• Open communication – We’re always available to answer questions and help residents understand their service charges

At Preim, we believe that estate management should never be a guessing game. By ensuring full transparency and responsible budgeting, we help create well-maintained, thriving communities.