Our designated property manager for Carter House attended the open day to support the team and answer any questions from attendees. Having a managing agent in place for the launch demonstrated to potential buyers that the developer has covered all aspects of the build and they have put procedures in place to ensure a smooth handover.

Residents Association - Assist leaseholders with formal application to the landlord for recognition of residents association.

Health & Safety Issues - Longstanding issues with a fire curtain that had not been addressed. Sourced contractor able to repair, obtained quotations and appointed to carry out works. Security was also reviewed to ensure unauthorised persons could not gain access to the block.

Financial Review & Planning - Quotations were obtained for various minor and major works around the development. A programme of works was agreed with the association and a forecast produced to ensure funding was in place to meet the costs as they became due.

We prepared a budget and had it agreed with the directors of the new Right to Manage company for the block. The budget highlights were as follows:
The service charge estimate for the current year is 28% lower that the previous year.
A contribution of £7,000 will be made into the reserve fund. A well managed block has a suitable reserve fund. We encouraged the leaseholders to agree to build up the reserve fund. It is these small things that make your investment stand out from the others. It is one of the top ten questions asked by flat buyer’s solicitors.
An £700 saving made on the fire alarm maintenance contract
£1300 was saved on buildings insurance.
£1300 savings was made on gardening and cleaning.
If there is money left over towards the end of the year then it will be used to invest in LED bulbs to try to reduce the annual electricity bill of £3600.