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What Should you know about your management company?

The fact that you are reading this page shows you realise the importance of paying attention to the management of your development.

 

After years of stagnation the housing market is now starting to rise but only by 2-3% per year and a long overdue building boom has created an abundance of choice for first time buyers.  So it is now extra important to ensure your Resident Management Company (RMC) is delivering in the following key areas:

 

  1. Service charge

 

This should be the average for the area – too little and a buyer will suspect shortcuts are being taken, too much and he may be put off.  A budget should be produced annually that clearly shows what the service charge is being spent on and should include a reserve fund for future large items of expenditure such as replacement lift parts or painting.

 

  1. Good presentation/kerb appeal

 

This is easy to assess, particularly during the growing season when a good schedule of maintenance will be most evident.  There should be provision for future refurbishment or improvement of landscaped areas as shrubs and fences don’t last forever.

 

  1. Top scoring by lenders and conveyancing solicitors

 

This is the part you can’t easily see and may only come to light at the later stages of the selling process.  A RICS registered managing agent is required to adhere closely to the lease or transfer document for your property so you can rest assured that any question that arises during the conveyancing process will not derail your sale.

 

We offer an efficient and transparent block management service aimed at putting the power in the hands of the RMC shareholders.  We push ourselves to excel in the fundamental areas of RMC property management including:

Financial

  • Collection of service charges
  • Robust arrears procedures
  • Full financial management and quarterly reports
  • Paying of contractor and supplier invoices
  • Annual budget predictions
  • Long term reserve fund planning
  • Individual secure client accounts for each block

 

Management/Maintenance

  • Reactive and proactive maintenance
  • Vetting and approval of existing or new contractors including insurances
  • Regular property inspections, followed by digital report
  • Planned Preventative Maintenance (PPM) surveys
  • Ensuring communal spaces comply with current legalisation
  • Dispute resolution and enforcement of leases

 

Communication

  • Dedicated Account Manager who is familiar with your development to ensure the smooth running of your site.
  • Liaising RMC directors providing regular updates
  • Managing calls and mail from shareholders and dealing with new and existing issues
  • Access to all management information, including invoices, schedule of works and works diary
  • Arranging and chairing AGMs & EGMs.

 

Company Business

  • Administering each company according to their head lease and Articles of Association
  • Acting as PSC and provision of Registered Company Address
  • Filing confirmation statements and accounts with Companies House
  • Registering the appointment / removal of Directors with Companies House
  • Handling sales enquiries and the exchange of share certificates
  • Arranging buildings, engineering, directors & officers & liability insurance