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If someone doing your service charge accounts for FREE sounds good - read on.

It is a little known fact that the fine for not preparing service charge accounts and presenting them to service charge payers is £2,500 (see Section 25 – Landlord and Tenant Act 1985 & Section 37 – Criminal Justice Act 1982)*. And, IF you fail to comply with the requirements in sections 21, 22 and 23 of the Landlord and Tenant Act 1985 (see above) without reasonable excuse you will be committing a summary offence. *legislation applies where there are 5 or more service charge payers.

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