IMPORTANT – nEXT agm WEDNESDAY 24TH JANUARY 2024. READ MORE…
Have your say on the issues that impact your property.
Reading has seen a huge influx of new builds over the last 10 years. Rental yields have stagnated and tenants, faced with more choices, have become more selective. For this reason, it is important to make sure that Garden Mews is run for the benefit of tenants and landlords as well as owner-occupiers.
For this reason, we encourage more landlords to take an active interest in how Garden Mews is run. The best way to do this is to attend the AGM and proactively raise points for discussion on the agenda. The last AGM in December 2022 was attended by just three apartment owners. Decisions that can impact your future rental yields are being taken by a minority.
Topics such as electric car charging points, which could make it easier to attract and retain good tenants remain unresolved. Initially raised in December 2021 as an action to investigate costs, this action was not progressed during 2022. Make your voice heard.
Sign-up for Garden Mews updates below, or raise your issues/concerns with Chaneys Property Management or website admin.
To download a copy of the 2021 (last released Minutes) AGM Minutes, click below.
How your service charge is spent?
How the annual service charge is spent is discussed and agreed upon at the Garden Mews AGM. It is then collected in two instalments. There are two bands of service charge depending on whether your property is an apartment or a penthouse.
The chart below summarises how your service charge is being budgeted to be spent.
As you can see above, by far the highest proportion of your service charge is spent on keeping and maintaining the extensive gardens and trees of Garden Mews. Whilst 18% is accrued on an annual basis to deliver internal and external make-overs which happen every seven years and five years respectively. This includes renewing communal carpets and protecting external woodwork.
Are we sticking to budget?
The figures below are for the year ending December 2021. These numbers are abbreviated numbers from the Service Charge Statement of Accounts.
| Actual 2021 | Budget 2021 | Actual 2020 | |
|---|---|---|---|
| Total Income | £44,174 | £44,114 | £62,729 |
| Total Expenditure | £50,331 | £44,114 | £66,663 |
| Surplus/Deficit | (£6,157) | – | (£3,934) |
Are you getting good value for money?
What’s your opinion? Enter the poll at the top of this page.
Important Information
Poll
Key Dates
- Garden Mews AGM – TBC (November/December)
- Service Charge Demands – June & December