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 following emergency renovations works after completing a condition report :
Emergency telephones in 6 of the lifts were not working. Three of them were not working because there were no active telephone lines.
Several communal doors needed repairs in order to comply with fire regulations. Doors not closing properly, fire intumescent strips.
Door entry systems were not working. There were at least 20 issues with the door entry systems.
A small leak from one of the apartments into the Under croft car park which existed for over 9 months.
Lots of issues with lights not working or staying on all the time.
Even though we are appointed by the Landlord, we are engaging with the residents to identify their priorities and explain to them what we are doing on the development. The response from the residents has been very positive. We are collaborating to bring the development back up to the standard expected.