Move to Revolution, we manage your money like this…
From the moment we are given the appointment to manage a site one of the first tasks that we undertake is to open two bank accounts. These are independent bank accounts and are in the client name (i.e. your building name). This means that your money is ring fenced in your own bank accounts. All payments for service provided to your building are made out of the first bank account, and all receipts of service charge money are paid directly into the first bank account. The second bank account holds your future maintenance fund (like a savings account).
We believe this is the only way to manage funds effectively.
How can leaseholders pay their service charge?
Across all our buildings we encourage monthly payments of service charge. This has historically made budgeting for leaseholders much easier and the result of this has been much lower service charge debt ratios.
You can pay us by cheque but not cash. You can pay us by single bank transfers or you can set up a standing order from your bank account to pay us monthly. Some developments have a direct debit scheme and this requirement would be discussed with your building upon appointment. Finally, you can also log into your MyRevolution account and pay online.