Understanding Service Charges (again)…

Service charges enable the maintenance and management of shared spaces within residential developments—in theory, at least. However, there is a growing concern regarding service charge abuse, leaving many residents questioning the fairness and transparency of these fees. Service charges should reflect the services provided, from cleaning and maintenance to utility costs and repairs. Yet when these agreements are mismanaged, residents bear the burden of rising costs for inadequate services. When services aren’t delivered, leaving residents to pay for something they don’t receive, one could call it fraud. With little oversight, these charges are increasing to levels that are making affordable housing quickly become unaffordable.