In very rough, very simple terms we have to provide each year:
Sufficient funds for the normal operating costs of the estate – such things as salaries, garden maintenance and insurance;
Sufficient funds for a major redcoration every 5-6 years.
An indeterminate amount for non-routine expenditure such as occasional legal fees (abnormal operating) or roadworks (major maintenance).
Details of historical expenditure can be found in the management accounts page.
That’s the principle of fee setting – how much do we want to spend on normal services/operating costs, how much and how frequently on redecoration and how much non-routine expenditure do we foresee?
The key issues are usually to do with the redecoration - what scope do we envisage (what to include), what specification of finishes and perhaps most importantly what frequency - the more years we have to save up, the less the annual cost? And if there is a big gap between redecorations, should we do some interim works to keep the place looking as pristine as possible?