If you live in a new build housing estate, you’ve probably heard of an estate charge and may be wondering what this is. Essentially, it pays for the communal facilities of new build freehold housing estates.

A managing agent is a specialist company which manages the communal areas of a block of flats or a new build housing estate. This will be funded through the service charge or estate charge, which leaseholders/homeowners pay into. The managing agent charges a management fee on top of the service charge or estate charge, which is all detailed in the budget and accounts.