What are Service Charges?
Your home may
benefit from communal areas, facilities or shared access which require
maintenance and repairs.
A block of
flats will require, amongst other services, communal cleaning, grounds
maintenance and regular fire risk assessments.
The cost of
providing these services is met through your Service Charges which are billed
by Cottsway Housing Association in accordance with your occupancy agreement.
occupancy agreement is the governing document for your home, i.e. Tenancy
Agreement, Lease or Transfer Title.*
What does my Service Charge Cover?
Charges will vary from scheme to scheme and will be dependant on the services
your home benefits from.
If you are
uncertain of the services your home receives these are outlined within you
Service Charge Estimate and Statement.
How Do Cottsway Housing Association
Calculate My Service Charge?
Housing Association operate a variable Service Charge which means you will only
pay for the services you receive.
Service Charge estimate is calculated on the actual cost of the services
provided and can increase or decrease year on year.
Service Charge Estimate
Housing Association will provide you with and annual Service Charge Estimate in
advance of the forthcoming financial year.
Estimate is calculated using the costs incurred for the services received
during the previous financial period and will take in to account any
contractual variances as well as any introduced or removed services.
Service Charge Statement
the end of each financial year Cottsway Housing Association will compare the
actual costs incurred for the services received against the Service Charge
actual costs for the scheme, which your home forms part of, are presented to
you in your annual Service Charge Statement and any deficit or surplus balance
is identified. Where applicable your Statement will also provide an up to date
balance on the Reserve Fund for your scheme.
costs incurred and outlined within your Service Charge Statement are reviewed
by an independent external auditor to ensure the Statement represents a fair
summary of the costs and is sufficiently supported be accounts, receipts and
What is a Deficit or Surplus?
A Deficit is
a debit balance at the end of the year and a Surplus is a credit balance.
Rental Tenancies and Shared Owners
a deficit arises the balance will be carried forward to the next Service Charge
Estimate and will be applied to your new Service Charge. Similarly when a
surplus occurs the balance will also be carried forward to your next Service Charge
Estimate and this will deducted from your new service charge.
Affordable Rental Tenancies
rent is fully inclusive of all Service Charges, where there are fluctuations in
the level of actual costs this has no impact on the actual charge for rent or
Your Service Charges are levied annually in arrears, as such any deficit or surplus to the Service Charge Estimate is applied directly to your annual invoice.
How Can I Pay My Service Charge?
If you pay your charges by direct
debit, you do not need to do anything. You will receive a further letter from
allpay Ltd confirming the new amount to be taken from your bank.
If you pay your charges by standing
order you must change your instruction to your bank.
Ways to Pay
There are a
number of easy and convenient ways to pay your rent.
The allpay payment app:
The allpay app is a mobile application available to
download from the
Store or Windows
Phone store and Google
Play enabling you to pay from your Apple, Windows or Android
A simple, safe and easy option to pay your bills. We can arrange to set up a collection any day
of the month that suits your circumstances.
To make payments at a time that suits you, visit us at www.cottsway.co.uk. Contact us for more information and to set up
an online account.
Using a payment card you can choose to pay at any
PayPoint or Post Office outlets.
In full on
receipt of the demand, or
two equal instalments, one during October 2017 and the second during March 2018
• In six monthly direct debit payments
from October 2017 to March 2018