BLR manages a large number of properties where we have been instructed by a Freehold Client wishing to protect their investment and to receive their ground rent and insurance payments with the minimum fuss. BLR can offer you a property management service suited to your needs so that you as a Freeholder receive the monies due to you promptly, whist ensuring the satisfaction of the leaseholders in your properties.
BLR will always endeavour to provide a service that suites you but if you were to instruct BLR Property Management you could expect the following as standard;
Billing
- Create a budget prior to the start of the service charge year
- Send out copies of bills to all Leaseholders in interims or single billing as per the terms of the Lease and approved budget
Collection of Service charges
- Collect all monies due on the service charge account and allocate to relevant accounts etc
- Chase all service charge arrears through first reminders, second reminders and finally court action letters with relevant fees added to individual Leaseholder’s account
- Hold all sums collected in accordance with the RICS Members’ Accounts Regulations until disbursement
Mr T
N5
Many thanks as always for your professionalism in this matter. It makes life so much easier when things just get done!
Collection of Ground Rent (where required)
- Collect all ground rent monies and allocate to the relevant accounts etc.
- Chase all Ground Rent arrears in line with our Credit Control procedures summarised above
- Pay all ground rent collected to you as Freeholder
Holding of Reserve
- Collect through the service charges an appropriate Sinking Fund and hold in trust until monies are required.
Expenditure Accounting
- Account for all expenditure from the service charges to show breakdowns of all invoices paid and allocate against the relevant expenditure codes to show in which areas money has been spent
- Receive, process, authorise, allocate and settle all incoming contractor, utility and insurance invoices that are to be paid from the service charge account.
- Keep and record copies of invoices paid ready for year-end accounting
Year-end
- At year end, finalise the service charge account and close the year off.
- Calculate any under-spend or over-spend and bill/credit leaseholders/sinking fund etc
- Collate and prepare all relevant accounts information for expenditure and income, including all allocations, and send all information through to the nominated accountants
- Chase accountants and ensure the timely return off the audited accounts.
Ad hoc Property Visits
- As required during the service charge year your Property Manager may be required to attend your property for a variety of reasons such as overseeing more complicated work or meeting with Leaseholders, Directors or Contractors.
Ad Hoc works
- Receive reports from Leaseholders or any party regarding maintenance issues relating to the common parts of the property
- Gain quotes on works over an agreed cost.
- Arrange for contractors to attend site to complete relevant works within service standard timescales
- Ensure that any contractors used on the Property have adequate Public Liability insurance and comply with all relevant regulations for working on domestic property.
- Chase contractors as necessary to ensure completion of works within service standard timescales, as summarised below.
- Receive Contractor invoice and authorise payment on satisfactory completion of the job
Contracts
- Administer contracts such as gardening and cleaning
- Receive, authorise and pay contract invoices and ensure that contractual obligations are being adhered to throughout to the Property Manager’s best endeavours
Employees (where required)
- Pay monthly any full or part time staff employed by the Service Charges
- Calculate and pay any PAYE and NI on these employees
- Where necessary, pay dismissal or redundancy payment
Insurance
- Arrange and pay annual buildings insurance for the property. Arrange and pay Engineering Insurance where applicable
- On request from all lessees, forward a copy of the building insurance certificate, and claim form in regard to any claim made by an individual lessee
- Facilitate any insurance claim regarding the common parts of the property with the insurance company and contractors as required
- Give advice and support as required to Lessees who must facilitate their own claim for anything relating to their own demise.
Filing
- Hold all relevant documentation for the property as supplied by the client for any future reference by BLR Leaseholders. To include such items as Leases, contracts, correspondence etc
General Queries
- Receive and respond to general queries specifically regarding items covered in this guide and the management contract. Responses to be in line with the Service Standards set out below.
- Queries can be from Leaseholders, Resident Associations, Tenants or Contractors
- Provide to the client best advice on all maintenance matters using Property Manager’s experience or information gained from contractors advice
Solicitors enquiries
- Provide to any requesting Solicitor, standard information regarding relevant service charge accounts and individual Lessee accounts. This information will carry an extra fee chargeable to the solicitor or persons requesting the information.
Provision of information upon Request
- Make available relevant details of service charge accounts, income and expenditure as specified under legislation to any requesting party with the required timescales
Emergency out of hours service
- Provide an emergency number for any urgent items which may occur out of normal office hours.
- Have contractors available to attend the property should it be urgently required out of office hours to remedy the emergency situation and make safe as necessary
- Within 24 working hours, review the issue and works completed, and arrange more comprehensive solution as necessary
