Expenditure definitions
We have sought to minimise these into the major groupings:
Management
Management Fees - fee charged for the management of the Park.
Administration - site supervision, Health & Safety compliance,
auditing accounts and costs of any site staff. Data for this heading
is provided in various headings from different contributors. The use
of this summary heading while not included in the RICS Code,
enables results to be shown in a consistent manner.
Utilities
Costs of electricity, gas and water paid for by the Landlord.
Soft Services
Landscape/Cleaning - cleaning and landscaping. These two
headings have been combined as they often overlap and some
contributors will put spend under one heading and some in the
other. We have sought to avoid this confusion by pulling the
figures together.
Security - Cost of security cover and security equipment.
Promotion - Any promotional costs recovered via service charges.
Hard Services
Fabric, Drainage and M&E repairs and maintenance. This also includes exceptional expenditure.
Income
Any income credited to the service charge from lettings or interest.
These cost headings have been prepared to follow the RICS Service Charge Code Of Practice.