Completed the RTM process to ensure the customers had the legal power to change spending and accounting decisions

Service charge review over all types of expenditure - to find out exactly where money was being badly spent; Arranged new suppliers where we felt was overcharged and stopped spending on areas we thought were unnecessary;

Created a new accounting system, to deliver regular accounts and deliver these directly to the customers - ensuring they understood where the money was being spent

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.

Completed the RTM process to ensure the customers had the legal power to change spending and accounting decisions

Service charge review over all types of expenditure - to find out exactly where money was being badly spent; Arranged new suppliers where we felt was overcharged and stopped spending on areas we thought were unnecessary;

Created a new accounting system, to deliver regular accounts and deliver these directly to the customers - ensuring they understood where the money was being spent