Q. What is the Management Fee?
Answer:
The Management Fee is one element of the Service Charge and is Hobdens’ charge for providing the day to day management service.
Hobdens’ Management Fee is based upon a set annual charge per property. It is not based on a percentage of expenditure which of course would give no incentive to keep costs down.
In general, Hobdens will increase the Management Fee each year in line with inflation but sometimes there may be other factors which influence the fee, such as extra work that is agreed or changes in legislation which bring about additional work for the agent.
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