In the short term, as a resident (property owner), we can't hold First Port to account for the service they provide to us verses the charge we pay. So this is where we need to start first. We do this, by having a Residents Management Company (RMC) set up.
In the longer term, the RMC can choose to keep FP or replace them.
As a resident (leaseholder), you have these rights:
Request a summary of the annual service charge expenditure.
Ask to inspect relevant accounts and receipts.
Request a summary of the insurance cover and inspect the policy.
A (recognised) Residents Association would give us these rights:
Be consulted regarding the manager the landlord appoints or retains.
Propose contractors for consideration when the landlord or manager is carrying out major works and to inspect the specifications and estimates.
Appointment a surveyor to advise on the service charge matters and to inspect the common parts if tenants have concerns.
However a Residents Management Company (RMC) has a board of directors made up of the residents. The directors’ responsibilities are to manage the property on behalf of the freeholder and have control over service charge expenditure.
The property you are in, most likely has a TP1 attached to it requiring the service charge to be paid. Your landlord will be passing this charge on to you, either clearly shown as the service charge or included in your rent payment.