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    #1

    Settlement of operating costs?

    This question refers to property management_

    I'd like to know whether there is an English equivalent for the German term 'Betriebskostenabrechnung'. When you rent a flat in Germany you will get an invoice or statement once a year listing the costs of water, gardening, repairs, insurance etc for your flat. When I want to describe this action as a property manager's task, what should I say?

    1) settlement of operating costs (or is this actually the action of paying the bill?)
    2) preparing statements of operating costs/ service charges
    3) settlement of operating cost accounts

    Thank you.

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    #2

    Re: Settlement of operating costs?

    Do they expect you (the flat renter) to pay these costs? Or are they just keeping you informed of what their costs are?

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    #3

    Re: Settlement of operating costs?

    The tenant is expected to pay these costs, i.e. the amount that exceeds their rent.

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    #4

    Re: Settlement of operating costs?

    The process would be an annual reconciliation. The documents would be something like a "statement of annual operating expenses."

    So, something like "Invoice for Reconciliation of Annual Operating Expenses."

    The analogous situation I am familiar with is the way we can pay for natural gas use on a monthly budgeted basis. You use more in the winter than in the summer, but the gas companies will bill you a steady amount every month. Once per year, you have to reconcile one way or the other to return the actual balance to zero.

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    #5

    Re: Settlement of operating costs?

    That's a great help. I haven't found anything like that in any of the online dictionaries I've conulted.
    Yes, the situation is similar to the one with the gas company.

    So could the manager's task be described as "Invoicing for Reconciliation of Annual Operating Expenses"?
    Could the word "accounting" also be used in this context?

    As I teach mainly British English, would the same expression be used in the UK?

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    #6

    Re: Settlement of operating costs?

    Yes, your phrase with "invoicing" sounds perfect.

    The manager would first "account" for the expenses, and then would have to "invoice" each tenant.

    I don't know if the UK would use different expressions.

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    #7

    Re: Settlement of operating costs?

    Are there any Brits in this forum?

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