Residential vs Commercial Service Charges: What’s the Difference in Accounting?
If you’re involved in managing property—whether it’s a residential block or a commercial unit—you’ve probably come across the concept of Commercial Service Charges. It’s not always the most exciting topic, but getting it right is vital. Whether you’re a landlord, tenant, or managing agent, understanding the differences in how service charges are handled across property types can save you a lot of hassle (and money). Let’s break down the key differences between residential and commercial for the purposes of this accounting and why it matters. What Is Commercial Service Charges? It is all about tracking and allocating the costs of … Read more