What does the term "service charge" refer to in property management?

The term "service charge" in property management refers specifically to a charge levied on tenants for services provided by the landlord or property manager. This could include a variety of services such as maintenance, cleaning, security, or other amenities that enhance the living experience for tenants within the property.

In property management, service charges are often separate from the rent and can fluctuate based on the types of services provided or improvements made to the property. This helps ensure that tenants contribute to the upkeep and management of shared facilities, which is essential for maintaining a pleasant and efficient living or working environment.

While maintenance fees might pertain to the property's upkeep, they generally serve the property owner, making that option less accurate in describing the broader context of tenant charges. Taxes are a financial obligation imposed by government entities and do not directly correlate with the services provided by the landlord or property manager. Similarly, a security deposit is a one-time fee collected to safeguard against potential damages, rather than a recurring charge for ongoing services.