What services are included in the service charge?
Your tenancy agreement specifies which services are included in the service package. These typically include maintenance and shared facilities. For these services, LIV Residential enters into contracts with professional maintenance companies.
You pay an advance service charge (advance payment).
This advance is used to cover costs throughout the year.
At the end of the accounting period, the actual costs are compared with the advances you have paid.
Any difference is settled with you by the property owner, LIV Residential.
How is my share of the costs calculated?
Your share of the costs is determined using an allocation key. This is based on:
the size of your home in square meters, and/or
costs that can be directly attributed to you, such as individual energy consumption.
When costs are allocated based on floor area, the calculation is:
the square meters of your home compared to the total floor area of the building.
How are maintenance costs determined?
The technical manager first determines which maintenance work is required. After that:
quotations are requested from multiple maintenance companies;
LIV Residential selects companies that meet the applicable quality and procurement standards;
the work is awarded to the company offering the best price–quality ratio.
Because LIV Residential manages multiple buildings, services can often be purchased at competitive rates.
Good to know:
Contract prices are adjusted annually as of 1 January in line with the CPI index.
Every three years, it is reviewed whether the service contract is still appropriate.
What are the administration costs for?
Administration costs amount to 5% of the service charges. These costs cover, among other things:
concluding and managing service contracts;
administering advance payments and invoices;
monitoring the proper execution of maintenance work;
annually reviewing and adjusting the advance payment;
preparing the annual service charge statement.
How is the amount of my advance payment determined?
With each annual statement, a new budget is prepared for the next accounting period. This budget forms the basis for the advance payment.
If the advance payment changes, you will be informed.
The new amount and its effective date are stated in the service charge statement.
I moved out. When will I receive my service charge statement?
If you move out during the year, you will receive the service charge statement at the same time as the other tenants, even if they occupied the property for the entire year.
When can I expect the service charge statement?
In most cases:
The statement is issued within six months after the end of the accounting period.
The accounting period usually runs from 1 January to 31 December.