A third of property management firms have had to increase their fees in the past two years thanks to a trend among new builds to include luxury amenities such as libraries, 24 hour concierges, gyms and cinema rooms.
Research, by Direct Line for Business, found that many have seen their property management charges rise to almost £2,800 on average.
The typical fee of £2,777 is for new build homes while those for older properties is £1,863, according to the findings.
Property management fees are a standard part of owning a flat. They usually cover repairs to communal areas of a development such as windows, drainage and the roof.
But Nick Breton, head of Direct Line for Business, said higher expectations inevitably come with higher fees.
He urged those buying a flat to factor management charges into their running costs budget, which also needs to include ground rent – which is £371 a year on average for a new build and £327 for an older property, according to the research.
In some cases, the property management charge is a flat rate for all properties, while for others it is determined by the number of bedrooms or the square footage of a property.
As a rough guide, service charges in London tend to vary from between £1.55 per sq ft to £7 per sq ft, Mr Breton added.
The research found that the typical annual service charge of £1,863 on older properties is the equivalent of twice the average monthly rent of £906.