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.

A specific defects report was commissioned. The report, whilst listing some of the work needed, also highlighted that due to the complexity of the roof, not all roof slopes or voids could be inspected.

Jennings and Barrett commissioned a drone survey to enable a thorough inspection of the entire roof (no easy task on the compact plot). Specialist RICS surveyors CWA, based in Sidcup, were appointed to produce the specification, manage the works and sign them off upon completion. Three roofing contractors were invited to bid for the roof refurbishment.

Experienced contractors, Capital Roofing Ltd based in Blackheath, were awarded the contract. The work included renewing lead flashings and valley gutters, installing new Velux skylights and re using the existing stained-glass windows in new hardwood frames. There was also some work to chimney stacks carried out.

A notice of intention was sent out in line with Section 20 legislation in 2017 with works planned for 2018. Lessees were made aware at an early stage that funds would be required for the project. The surveyors employed to managing the works, Blakeney Leigh, had experience of similar building repairs. They produced a suitable specification for the repairs and invited 3 specialist contractors to tender for the contract. As part of the section 20 process lessees were also invited to nominate any contractors.