Service Charge recovery and management made easy

In-built service charge ledger to manage simple and complex expense recovery requirements. Effective through single block residential schemes, through multi-site and multi-owner requirements, to commercial and mixed-use common area management scenarios.

The entire lifecycle of service charges can be managed in one place – starting with flexible budgeting and forecasting, including the revision of budgets during the service charge year. Apportionments managed at unit level and automated calculation and creation of on account charges, based on unit apportionment percentages and budgets and other relevant factors such as caps.

Breadth of reporting options that can summarise simply the most complex service charge requirements. Compare actual expenditure to budgets, break down reconciliations, manage voids and create full P&L reports, as well as balance sheet reports and trial balances.

Fully integrated with property management and accounting functionality, MRI is used to manage billions of pounds worth of service charges.

Advantages

  • Intuitive service charge preparation for any newly acquired property.

  • On-actual and on-account recovery flexible management fee calculation.

  • Support multiple recovery methods (service charge, insurance, utility rates)

  • Easily incorporate specific tenancy rules (caps, floors, fee caps, etc.)

  • Automatic links for upload of actual expenditure from Accounts Payable and General Ledger

  • Detailed analysis of costs and void cost for each service charge period.

Find out more

If you would like to find out more about software to manage service charges, please get in touch today.