BLOCK MANAGEMENT
There are more than 60,000 resident management companies (RMC) registered at Companies House. RMCs typically manage common parts of the building on behalf of leaseholders although they may have other responsibilities.
They are generally run by directors, who are usually unpaid and appointed from among the residents themselves.
There is no legal requirement to employ a managing agent but most RMCs choose do so. For the past five years Pineflat has been managing blocks where we or our clients already own one or more flats. As such we have a clear interest in ensuring that the blocks are run efficiently and cost-effectively.
In 2005 we started to offer this service to other RMCs who meet the following criteria:
1) A high level of consensus among leaseholders about how the block should be managed as we are not equipped to handle dispute resolution
2) Agreement to collect service charges by monthly direct debit
For qualifying RMCs we provide the following services to freeholders and resident management companies
Day to day management and administration
planned and regular maintenance and cleaning
reactive repair service with e-mail and phone back-up
preparation of solicitor packs for sellers
Service charge and sinking fund collection and remittance to
dedicated client bank accounts via monthly Direct Debit and
BACS
Income and expenditure accounting
Supervision and regular review of cleaning, gardening,
maintenance and other services
Access to specialist insurance (building, liability, directors &
officers)
Our normal fees are in the range of £300 per unit per year depending on the type of property and the tenure mix (with lower charges for a higher proportion of owner occupiers than tenanted properties). This includes services like re-broking the block insurance.
Additional time input, for instance for preparing a refurbishment specification or for organising a and reviewing quotes for major works would be charged at £60 per hour with prior agreement.
We can also provide accounting and company secretarial services if required.
We can provide advice and assistance to leaseholders looking to start an right to manage company or to undertake enfranchisement
Please contact blockmanagement@pineflat.co.uk for further details.
