Property Management

Appointment

Our standard contract which can be adapted to suit individual requirements is available upon request.

There will be fees to be paid to S.R. Wood & Son (Property Management) Ltd. by our client. The extent of anticipated work involved will dictate the level to be charged.

A competitive quotation can be supplied upon request.

Financial Management

We see the financial management of your development as a crucial part of our role as Managing Agent in protecting your investment. Detailed below are some of the services which we can offer in this regard:-

1. After agreeing the services and required frequencies with our clients, we will prepare a detailed Annual Service Charge Budget which will then be put to the client for approval. Once approved, lessees will be invoiced for their proportion of the Service Charge in accordance with their leases. Naturally credit control will be undertaken and solicitors will be instructed as required although this may be at the discretion of our clients.
2. Ground rents, in accordance with the lessees’ leases, can be invoiced and credit controlled if required.
3. Day to day administration of the client bank accounts. Where appropriate, funds will be placed on deposit to maximise the return to the client.
4. Assistance with the preparation of Annual Accounts for filing with Companies House.
5. A full Company Secretarial Service can be provided if required.

Assignments of Leases and Notices

As and when property sales are transacted we can provide the following services:-

1. Answer solicitors enquiries.
2. Provide Service Charge Statements for the relevant unit.
3. Liaise with developers and solicitors when applicable.
4. The issue of share certificates.

Site Inspections

We conduct site inspections on a regular basis at varying times of the day. As well as a site inspection, the visit will be used to meet with residents/lessees to discuss issues that they may have and breaches of leasehold obligations/complaints.

The Way Forward

We hope you are by now in a better position to consider appointing our Company. The process is simple.

Should you have an existing managing agent there will almost certainly be a notice period to terminate their appointment.

On serving of notice we would liaise with the outgoing agent to ensure a smooth transition with their co-operation.

At this stage we will undertake a detailed site inspection to identify wants of repair, quality of service and value for money from the existing service providers, getting alternative quotations where appropriate etc.

Provision of Insurance

We use independent insurance intermediaries to source competitive quotes for the best possible cover.

The types of policies that we can offer are detailed below:-

1. Directors and Officers Liability Insurance.
2. Buildings Insurance.
3. Public Liability Insurance.
4. Engineering insurance.

We administer any claims liaising with the broker and loss adjusters obtaining quotes as required.

Rebuild valuations can also be undertaken.

Importantly, as you would expect, we have Professional Indemnity Insurance.

Maintenance

We pride ourselves on the appearance of properties that we manage. To residents and indeed the general public the appearance of a development can often be construed to be the main role of a Managing Agent.

Obviously the appearance of a development is only one facet of a Managing Agent’s role; however it is a crucial one as if a development is not properly maintained the capital value of your investment is likely to suffer. It may prove difficult to sell and the development will not be a pleasant place to live.

To maintain our independence and ensure transparency we do not use in house contractors. We maintain high standards of works undertaken by conducting site inspections on a regular basis and by adopting the following approach:-

1. Obtaining value for money – we do not necessarily recommend the cheapest quote; we recommend the quote that represents the best value for money and ensure that the service paid for is the service received.
2. Agreeing the frequency and specification of works with our clients prior to the appointment of contractors. This dovetails with the Service Charge Budget.
3. Vet and appoint contractors – We aim to use local, independent trades people, many of whom we have known and worked alongside for over 20 years.
4. Obtaining quotations for all repairs for our clients approval subject to an agreed limit as instructed.
5. Instructing contractors for major works and monitoring progression to completion.
6. Negotiating Mechanical & Engineering maintenance contracts.

Communication and Meetings

Effective communication is what we feel really sets us aside from the competition. We endeavour to return all calls and correspondence as soon as practicably possible.

We will communicate with our clients in their preferred manner, be it email, post or telephone, and will only provide relevant, timely information.

As part of the Managing Agents’ role it is necessary for them to attend a number of meetings throughout the year which fall into the following categories:-

1. Directors’ meetings – To keep our clients abreast of the management of the Company, its financial state and answer any points that are raised.
2. Company meetings – AGM’s and EGM’s for the appointment of Directors, Company Secretaries and Auditors, comply with statutory requirements and to vote on pertinent matters.

Breaches of Leasehold Obligations

Inevitably there will, with any development, be occasions when lessees fall into breach of their leasehold obligations. These breaches can often be difficult to resolve particularly where units have been sublet by the lessee.

Breaches may take the form of washing hung on balconies, parking in unallocated spaces, Estate Agents’ boards, music being played after a certain hour or contravention of some other restrictive covenant. We would undertake to do the following:-

1. Identify and log breaches during site inspections.
2. Investigate and log reported breaches.
3. Advise residents of breaches, report to the Directors and monitor the situation.