Glossary
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This glossary will help to understand some of the more technical terms
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Service chargeA contribution payable by a leaseholder typically to a landlord, for a share of the cost of insuring, maintaining, repairing, cleaning, etc. the building. | |
Sinking fundOften used interchangeably with the term reserve fund, the term sinking fund was originally used specifically to refer to money collected to cover the cost of future large individual items of expenditure such as a new roof, or replacement lift. | |