Information for leaseholders and shared owners

If you’re a leaseholder or shared owner please read the FAQs below. You can also find out more background information in our guide to service charges (277 KB).

If you’re a tenant please check our information for tenants page.

What are service charges?

Service charges are costs for communal services such as cleaning or property maintenance that Triathalon provide at your estate/property. You contribute towards these costs for communal services as per the terms of your lease.

What are year-end service charge accounts?

Year-end service charge accounts list the actual costs incurred in providing communal services at your estate/property in the previous year, April 1st 2021 to 31 March 2022.

How are year-end service charges accounts calculated?

Year-end service charge accounts are calculated by comparing the actual costs of providing the communal services compared to what we estimated for the same period. If the actual costs are higher than the estimated costs, there will be an additional charge known as a deficit. However, if actual costs are lower then you will receive a refund/credit.

Why have I received this letter?

You have received this letter as we are required by law to inform you that we are reviewing the year end service charges for your property and will make these accounts available to you at the earliest possible moment in line with the terms of your lease.

Will I have to pay the amount shown on the letter?

The amount shown on the letter is the best guide we have to amount of actual service charges applicable to your property for the year 2021-22. However any estimated charges you paid in 2021-22 will be offset against the finalised actual costs. This will result in either a credit for the year which you will be refunded or a deficit which you are required to pay.

How will I be refunded or charged for the difference between estimated and actual costs?

Once the year accounts have been finalised we will send you a personalised booklet that will show if there has been an underspend or overspend in 2021-22 and the resulting charge or refund applicable to your property.

Why have accounts not been finalised?

Actual costs are still being reviewed to make sure they are correct and apply to your estate/property. This work requires review at various stages and absolute accuracy to ensure you only contribute towards services you have received/benefitted from. Under the terms of your lease, independent accountants must also examine and certify these accounts.

When will I receive my actual service charge accounts?

The year-end costs for your property are currently being finalised and certified by external accountants. Once this process is complete we will send you your personalised service charge booklet which will provide all information relating to your year-end accounts for 2021-22.