What constitutes a 'fortnightly' service charge?

The definition of 'fortnightly' directly relates to its time frame, which specifies that it occurs every two weeks. Therefore, a service charge that is classified as 'fortnightly' means it is levied and collected in this two-week interval. This aligns perfectly with the terminology, as 'fortnight' literally refers to a period of fourteen days.

Understanding this term is important in leasehold management, as service charges can significantly impact budgeting and financial planning. Recognizing the frequency of those charges helps both landlords and tenants anticipate cash flow and manage their obligations accordingly.

The other options do not accurately convey the meaning associated with a 'fortnightly' charge. For instance, a monthly charge refers to a different collection frequency, and weekly charges denote a more frequent expense than a fortnightly arrangement. Additionally, a varying charge based on occupancy does not specify a fixed collection period and can lead to confusion when defining the payment schedule.