The summary schedule of costs for the period 1st July 2022 to 30th June 2023, as agreed by RMC Directors, can be viewed and/or downloaded below.
The overall Service Charge budget has been split into key categories as shown on the Schedule of Costs. The ‘CCMC Sub Total’ represents costs that are directly attributable to our part of the Channels development (Phase 1/2) and the Site-Wide Estate Charge represents our share of the costs (mainly grounds maintenance) that cover all other shared areas of the Channels development.
The figures shown on the Schedule of Costs are estimated budgetary values however actual costs could be higher or lower depending on events that occur throughout the year. It is the responsibility of the RMC, assisted by Remus, to review allocation of costs where necessary and to ensure there is robust and appropriate management of the budget in order to deliver against statutory requirements.
In a climate of rapidly increasing prices, directors have endeavoured to minimise increases to the Service Charge. This has been achieved by minor amendments to the Grounds Maintenance specification, on the basis the landscape is now well established, and reducing the sums transferred into reserves. The year on year overall budget increase is only 0.97% and this is mainly attributed to the CIC site-wide charge as our share was estimated last year prior to the contributions being finalised by the CIC.
The Service Charge that residents are required to pay is comprised of a Core Estate Charge and additional charges that pertain to specific units, as outlined below:
Core Estate Charge
The sum of £109,443 covers both Phase 1/2 specific and Site-Wide costs. This represents the core charge that every resident or tenant will contribute towards. There are 278 units on the Bellway phases and the Core Estate Charge has been split equally across that number of units.
All units have a budgetary charge of £394 allocated to them for which the half year demand is £197.
Private Road Area Costs
The sum of £1,050 covers Phase 1/2 specific costs however pertains only to a small number of properties which have responsibility for the upkeep of private roads. The budget has been split equally across the 5 units for which these costs apply and as such represents an addition to the Core Estate Charge.
These units have an additional budget of £210 allocated to them for which the half year demand charges will be £105.
Apartment Area Costs
The sum of £4,850 covers Phase 1/2 specific costs however pertains only to the Brassie Wood apartments. The budget has been split across the 29 units for which these costs apply and as such represents an addition to the Core Estate Charge.
These units have an additional charge of £167 allocated to them for which the half year demand is £83.50.
Retail Unit Area Costs
The sum of £300 covers Phase 1/2 specific costs however pertains only to the retail unit/office which forms part of the Brassie Wood apartment complex. The budget has been directly allocated to the unit for which these costs apply and as such represents an addition to the Core Estate Charge.
This unit has an additional charge of £300 allocated to it for which the half year demand is £150.
Note for Eastlight/CHP Tenants
It is important to note that Eastlight and CHP tenants will receive budget information and demands directly from those respective organisations, not from Remus, and that there may well be separately agreed approaches which govern how funds are collected and the contributions that are made.
CIC Site-Wide Estate Charge
The contribution to Site Wide Estate Costs is per agreement on 9th June by CIC Directors and will be £130 per unit for 2022/23 for which the half year demand charge will be £65.