Service charges: the question owners forget to ask

When you buy an apartment, you also sign up for a yearly service charge. It pays for the lifts, the pool, security, and the upkeep of shared areas.

Buyers focus on the price and the view, which makes sense. But 2 similar homes can have very different service charges, and over years that gap adds up. A high charge eats into your rental return and your monthly budget.

Before you buy, we pull the service charge for the building and compare it to others nearby. We also check what it actually covers, because a low number is not always a good sign if the building is poorly run.

It is a small check that saves you from a surprise later. Ask us for the figure on any home you are looking at.