Service Charge and Sinking Fund Control
All monies received are held in individual management companies’ bank accounts. All transactions are recorded on the system daily. We suggest that a separate Sinking Fund account is opened for each individual management company so that the Sinking Fund monies, which are for capital expenditure, are clearly separated from the Service Charge account which is used for the day-to-day running expenses. All service charge and sinking fund accounts are independently reviewed and certified by qualified accountants at the end of each financial year.
We arrange the annual renewal of Insurance and deal with all Insurance Claims so that we can monitor any claims made and any possible reoccurring issues that are resulting in claims and ultimately affecting the premium.
We undertake to carry out a site visit to each block at least once every 2 weeks however this would be increased depending on works being carried out or the requirements of the block.
Credit Control Procedures
Each block is self-funding and all owners are required to pay their apportionment of the service charge and sinking fund contribution. We have credit control procedures in place to recover all outstanding service charge and sinking fund balances in a timeous manner.
Maintenance and Repairs
A working authority level for expenditure will be agreed with the Directors of the block. We will not place a purchase over our authority without Directors consent and we ensure that only approved contractors are utilised. The Client is not bound to choose our approved contractors and may nominate their own contractors, if they so wish, in advance of any works carried out. A planned preventative maintenance plan will be prepared and updated annually for discussion in conjunction with the budget at the Annual General Meeting. Reactive maintenance will be carried out by our dedicated contractors who operate on a 24 hours’ service in the event of an emergency.
Maintenance of all fire equipment in common areas including fire extinguishers, smoke detectors and emergency lighting are carried out by certified contractors in accordance with all relevant legislation.
24-Hour Emergency Line
We have a 24-hour emergency telephone number in place outside of normal working hours which will contact the relevant contractor as appropriate. Any issue which is not an emergency will be dealt with by our block management team when our offices re-open.
We are available to discuss all matters relevant to the property with owners. We guarantee the highest level of service available in the market place and undertake to respond to all owner queries in a thorough and timely manner. We can be contacted by email, phone or in writing and we would be available at short notice to meet with any owner