Service Charge Accountant

www.topfinancialjobs.co.uk - Jobboard; London; On-site; GBP 40,000; Full time

Job summary

Join a forward-thinking organization as a Service Charge Accountant, where you'll manage financial activities related to service charge accounts. This role involves budgeting, financial reporting, and ensuring compliance with regulations for a residential property portfolio. You'll play a crucial part in preparing service charge budgets, issuing accounts, and engaging with stakeholders. If you have a passion for finance and a keen eye for detail, this is an exciting opportunity to make a significant impact in the property sector.

Qualifications

• Experience in Service Charge accounting and leasehold management.
• Knowledge of leasehold legislation and financial regulations.

Responsibilities

• Prepare and reconcile annual service charge budgets.
• Calculate and issue service charge estimates and actuals.
• Liaise with stakeholders and handle leaseholder queries.

Skills

Service Charge Accounting

Financial Reporting

Budgeting

Leasehold Management

Numerical Skills

Interpersonal Skills

Analytical Skills

Attention to Detail

Education

Part-qualified or qualified (ACCA, CIMA, AAT)

Recognised accounting qualification

Tools

Excel

Word

Outlook

Job description

Job Title: Service Charge Accountant

Location: London

Salary: 40K

Job Type: Permanent/ Full time

About the role:

We are seeking a detail-oriented and experienced Service Charge Accountant to manage and oversee all financial activities related to service charge accounts. The successful candidate will ensure accurate budgeting, timely reconciliation, and compliance with relevant regulations for service charge funds, primarily within a residential property portfolio.

Duties and Responsibilities:

Budgeting & Financial Reporting

• Prepare and reconcile annual service charge budgets and actuals.
• Produce and issue year-end service charge accounts in line with lease agreements and statutory guidelines (Landlord and Tenant Act 1985).
• Manage and report on reserve funds, ensuring correct contributions and balances.
• Monitor expenditure, compare against budgets, and post adjustments as needed.
• Provide service charge budgets for new developments at design stage.

Billing & System Management

• Calculate and issue service charge estimates, actuals, major works charges, and ground rent in line with lease terms and within set timescales.
• Lead on the rent increase process, ensuring accurate calculations and communications.
• Troubleshoot and improve service charge billing systems to ensure accuracy and efficiency.
• Maintain service charge ledgers and ensure accurate postings in financial systems.

Stakeholder Engagement & Queries

• Liaise with SNG to ensure the bank balance is topped up with the correct amounts.
• Reconcile the individual leaseholder accounts and produce and send out yearly financial statements
• Handle leaseholder and tenant queries on service charge estimates, statements, and variances.
• Liaise with internal teams (Repairs, Development, Finance) to ensure correct cost allocations and billing for works and new developments.
• Support internal and external audits, tribunals, and court proceedings with required financial data.
• Collaborate with the Leasehold Adviser to improve communication with residents, including welcome packs and service charge handbooks.

Governance & Compliance

• Ensure compliance with relevant legislation and obtain dispensation where necessary.
• Review lease agreements to ensure all service charge elements are captured.
• Identify non-collectable charges and prepare write-off documentation as required.
• Conduct Land Registry checks to confirm leaseholder ownership status.

Engagement & Representation

• Arrange and attend leaseholder service charge meetings and community events.
• Provide input to legal and tribunal cases as required.
• Represent the organization at First Tier Tribunals and in County Court when necessary.

About you:

Education

• Part-qualified or qualified (ACCA, CIMA, AAT) or equivalent relevant experience.
• Possession of or working towards a recognised accounting qualification is desirable.

Knowledge and skills

• Knowledge of leases and understanding of the issues of leasehold management.
• Good knowledge of IT and Housing systems including Word, advanced Excel and Outlook.
• Excellent numerical skills to calculate estimated and actual service charges.
• Demonstrable knowledge of Section 20 and other leasehold legislation.
• Ability to meet deadlines and plan and deliver a range of different activities.
• Ability to validate information and show attention to detail.
• Ability to achieve results against departmental Key Performance Indicators.
• Excellent interpersonal skills to support work with customers across a range of circumstances.
• Strong verbal communication skills and the ability to adapt this approach for different audiences.
• Excellent analytical skills to identify a range of issues from information gathered.
• Excellent customer focus and a genuine desire to achieve excellence in all areas of responsibility.

Experience

• Experience in Service Charge accounting and general leasehold management preferable within housing or property sector.
• Experience of creating performance reports and implementing service improvements is desirable.
• Experience of working in social housing or local authority is desirable.

Please click the APPLY button to submit your CV for this role

Candidates with experience or relevant job titles of Property Finance Accountant, Service Charge Finance Specialist, Real Estate Accounts Coordinator, and Leasehold Accounting Analyst may also be considered.