A 6-hour online course being be run over 2 consecutive days (3-hours per day) this interactive course provides a practical introduction to the financial lifecycle of a residential leasehold property. Designed for those with less than 18 months’ experience in the industry, the course walks participants through the key steps of service charge accounting—from setting up a site and budgeting, to year-end accounts and client reporting.
Presenters
Lisa Warren
What You'll Learn
Participants will gain practical knowledge and confidence in:
- Differentiating between the management agreement and the lease in financial management
- Understanding the difference between corporate and service charge accounting
- Key legislation relevant to service charge finances
- Setting up a site correctly in accordance with the lease
- Budget setting and best practice financial planning
- Billing and collection procedures for service charges
- Handling leaseholders’ money in compliance with best practice
- Appointing contractors and placing contracts
- Processing invoices and avoiding common errors
- Using reserve funds and developing long-term maintenance strategies
- Reporting to clients: budgets vs. actuals, and cashflow insights
- Producing and interpreting service charge accounts
- Preparing for financial discussions with clients
- Understanding leaseholder rights to financial information
- Correctly handling surpluses and deficits
Who Should Attend?
This course is ideal for:
- Accounts staff new to the industry or role, seeking to understand service charge financial responsibilities
- Property managers and assistants beginning to manage financial aspects such as budgeting and accounts
- Professionals transitioning from lettings into residential leasehold property management
Note: This course does not cover bookkeeping techniques. Nor is it suitable for those looking for guidance on Commercial Service Charge Accounting
Delivery Format
Online: Two half-day sessions (3 hours each over 2 days)
(This course can be run as a 6 hour 'In-Person' course on request. Please email [email protected] for more information)
Level / Qualification Mapping
General Level:
Beginner
An intermediate course is also available (TC11: Residential Service Charge Accounts Guidance)
TPI Qualification Mapping:
TC44 is one of our ‘core’ training courses, therefore, all the content within the course has been mapped to the relevant TPI qualification. In case of TC44, it is the Level 2, 3 and Level 4 qualifications in leasehold management.
All slides are labelled with their relevant level and an overall guide that maps the training course content to the relevant syllabus unit will be provided.
Note: Qualifications are based on syllabi that have been accredited by our accrediting body ABBE / Ofqual. They are bases for the course content and the assessment.
Fees
| Membership level | Price |
|---|---|
| Members | £100.00 |
| Non Members | £175.00 |