Service charges explained

The service charge does not include costs that are incurred within the home. Costs such as  contents insurance, heating and electricity bills, water, council tax and broadband etc, are the responsibility of the resident and are paid for and managed individually.

The cost of the service charge differs at each community depending on the amenities available to residents, the number of homes contributing, the size and design of the building and landscaping and number of staff working.

The total anticipated annual cost of managing each community is estimated, and then calculated on a price per square foot. That cost per square foot is then multiplied by the size of your apartment.

The service charge is reviewed annually and is payable monthly. If the annual estimate does not cover all costs incurred in the year, additional payment will be required by leaseholders to cover the balance. If the annual estimate exceeded costs, the balance will be transferred on to the next service charge year as a credit.

The service charge is likely to increase each year as inflation and other costs rise. For example, when you renew your car insurance each year, even if there are no significant changes in the year it is likely that your insurance premium will increase. The same applies to service charge and all that the charge covers, although it can decrease from one year to the next.

We communicate any changes to the service charge budget to residents in advance of the changes coming into effect. We will always make sure it is done fairly and with justifiable reason.

Residents who rent their Pegasus home do not pay a separate service charge if their tenancy started after 1st May 2026. In line with the Renters Rights Act, their monthly rent includes all associated costs to maintain and manage the community.

No. At Pegasus Homes we firmly believe in being upfront and transparent about what it costs to live in our communities, and what it costs to move from them. We do not, and have not ever, charged an exit fee, also called a deferred management or event fee. For more information on exit fees, visit our Exit fees page.