A service charge is a mechanism whereby a landlord recovers from tenants the cost of maintaining and repairing a building and providing certain services.
Similar in operation to residential multi-tenanted properties, these service charges will usually include such items as:
The maintenance and repair of the structure and common parts of the building
The provision and associated costs of security and cleaning the building
Costs associated with administering and managing the building, however these should exclude costs associated with collection of rent
Energy costs for the common parts
Insuring the building to its full replacement value. Insurance will often include engineering and terrorism insurance, the latter increasing following recent world events
Sinking fund contributions to cover replacement of plant and machinery including the upkeep of common areas
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