End of year service charges 2023/24

If you’re one of our shared ownership, leaseholder or freeholder customers, you’ll have recently received your end of year service charge statement. Below, we answer some of your frequently asked questions about this statement and your service charges.

Shared ownership, leaseholder or freeholder customers pay a variable service charge for the services you receive, which relate to the communal areas and the maintenance of your estate or block.

Each financial year (for most customers this is from April to the following March), we set an estimate of what we think these costs will be. And at the end of the financial year, we let you know what the actual costs of delivering these services was in an end of year statement. This is produced within 6 months of the end of the financial year, so most customers receive this by the end of September each year.

We’ve recently finalised the April 2023 to March 2024 accounts. You’ll have recently received your letter which shows the actual charges against the estimate charges, and we’ll let you know if there’s a credit or debit on your account. If your account shows a debit adjustment, the actual costs were higher than the estimate and you owe us money. If your account is in credit, we owe you money as the actual costs were lower than the estimate costs.

If a debit balancing charge is applied, we’ll expect to have the balance repaid by the end of the current financial year (March 2025). If you pay by Direct Debit, and unless you already have an arrangement in place, we’ll amend your payments from the next available date to settle your account by March 2025. You’ll receive a separate written notification confirming these changes.

If a credit balancing charge is applied and you pay by Direct Debit, and have no other debts with us, we’ll automatically refund any credit over £50 to you by 31 October 2024. If the credit is less than £50 and we don’t hear from you, we’ll offset it against the new year payments from 1 April 2025. If you don’t pay by Direct Debit and would like a refund, please contact us on

0800 652 0898 or email your Income Recovery Officer at income.leasehold@vividhomes.co.uk, remembering to quote your tenancy reference number.

Watch our series of webinars on a range of topics for shared ownership, leaseholder and freeholder customers.

Your frequently asked questions answered

Why did I get a letter/statement?

You received the letter because it’s a legal requirement of the lease.

I don’t pay by Direct Debit - how else can I pay the amount due?

We have lots of different ways that you can pay. Find out more on the 'paying my rent' page.

My account is in credit - can I have my money back?       

If you pay by Direct Debit and have no other debts with us, we’ll automatically refund any credit over £50 to you by 31 October 2024. If the credit is less than £50 and we don’t hear from you, we’ll offset it against the new year payments from 1 April 2025. If you don’t pay by Direct Debit and would like a refund, please contact us on 0800 652 0898 or email your Income Recovery Officer at income.leasehold@vividhomes.co.uk, remembering to quote your tenancy reference number.

I can’t afford to pay the amount due.

If you’re worried about paying the amount due, please get in touch with your Income Officer so we can support you.

I have a query about my statement, what can I do?

If you have a query about your end of year service statement, please get in touch with us as soon as possible. We will review your account and log all adjustments agreed up until the end of October 2024. After the end of October, we’ll then process any adjustments to the relevant rent and/or service charge accounts and send each affected customer a credit note letter confirming what service charge adjustments have been made. We will aim to send out the credit note letters by the end of November 2024.

I just bought my property, why am I paying for last year when I wasn’t there?

The charge relates to the property not the person. Your solicitor should have made a provision for this and therefore you should contact them to discuss any concerns you have.

I’ve just purchased the property but received the letter addressed to the previous owner

The mailing list was up to date at the point of production, but if ownership has just changed hands it may have missed the cut off point. Please return the statement and we can re-send in the correct name.

My property was a new build and I only lived there for a few months of 2023/24, why am I paying for the whole year?

They’re not, the charges are only for a proportion of the year.

What repairs have been completed on my property?

Please contact your Service Charge and Leasehold Officer, who can provide a repairs report to show a breakdown of all works and costs completed in the financial year.

The figures on the statement don’t add up

Please contact us and our finance team can investigate.

I don’t want to pay because I don’t receive the service

Please contact us and your Service Charge and Leasehold Officer will confirm any details or investigate further if required.

Where can I get further details on what the service charges cover?

Please visit our rent and service charges web page which contains further information.