One of the biggest concerns for Leasehold Properties is the collection of funds. After all, you don’t want some residents suffering because others have not paid their share.
BLR has a tight but fair collections procedure. Our credit management department focuses on providing the residents with accurate and timely bills. Given today’s economic climate, BLR ensures that bills are delivered to our residents in a reasonable amount of time before the due date.
This means the residents have a realistic time to, review the bills, contact us if there are any questions and pay what is owed on time and in a selection of ways.
If any queries or questions are raised, enough time is allowed for all parties concerned to review the question and come to some type of resolution. Thus, BLR has a reasonable amount of assurance that the bills will be paid within terms, or that agreed payment plans will be received.
BLR believes in building a strong rapport with the residents to achieve the best result for all parties.
In the event that payments are not made on the due date, our system generates reminder letters to the residents with overdue balances. After all, we all need a gentle reminder sometimes. Whenever possible, if the accounts remains outstanding, we will make enquiries and discuss acceptable payment terms.
Legal Proceedings are undertaken against non-paying residents only after all possible negotiations and agreements have failed.
Ms F
W2
“Thank you for all your work in dealing with our heavy arrears situation. It is nice to have the Property back in a good financial position”
We carefully balance and protect our clients’ position recognising that their income flow needs to be assured, whilst also trying to be scrupulously fair to residents.
Where necessary we undertake Land Registry Searches to enable us to contact anyone with a legal interest in a property and, as a matter of courtesy, keep them fully advised about any action being taken. We also liaise directly with mortgage companies, including the repossession departments where appropriate.
Our collections procedures are in place to further reduce any worry in managing your building. If you would like further information on any of our Accounting procedure, please give us a call on 020 8905 8345 and one of our friendly accounts team will be happy to help.
