With over 1,500 managed units in our portfolio of large residential and also mixed retail / commercial development we have many years of experience in all aspects of block management. We believe in complete transparency of the services being undertaken and complete accountability in how the service charges are being allocated and managed.
To highlight the services we offer, I will detail these below in brief:-
Negotiations with all third party service contractors such as gardeners, cleaners, insurance on behalf of the management company [OMC] and in respect of contract drafting, if required;
Collection of service charges from all residents using an online accounting system and preparation of all invoicing and bookkeeping in this regard;
Supervision, management and review of all third party service contractors to ensure consistent service and value for money;
Company secretarial service (included as part of the management fee). In this regard, we assist with the preparation of the annual general meetings and act as secretary at same;
Corporate governance meetings- At present we suggest that the boards of the management company meet on a twice yearly weekly basis. We attend these meetings and keep minutes as well as supplying agenda in advance;
Investigating alternatives on an ongoing basis to existing third party contractors to establish whether value for money is being obtained. We have used a substantial number of third party contractors in the past and can assure you of competitive quotes on a wide range of services.
Conducting all negotiations with the insurance company and acting as point of contact on all block policy claims. Conducting annual renewal negotiations with insurers to keep premium affordable.
Acting as point of contact for all residents concerns and dealing with any and all issues that arise on a 24/7 basis.
In short, we have substantial experience in dealing with this service. While ultimately it is the responsibility of the board of the management company to decide on the appropriate course of action, we of course advise on what we believe will achieve the greatest measure of success.
In one particular case in a development we manage there was a very large amounts of arrears. We worked with the shareholders and found through practical engagement people are willing to enter an arrangement with the management company. People can often feel shame at falling behind and are unwilling to contact us but we have always tried to differentiate between those who won’t pay and those who can’t. Regrettably, we have experience with those residents who won’t pay also and we have had to institute legal proceedings as opposed to issuing simply letters of demand in order to secure payment. We have a good relationship with our legal advisers and furthermore one of the directors is a solicitor who can advise on the best courses of action open to you.
Ultimately we like to take the approach of working with residents and allowing payment plans where possible. However, we are not afraid to institute legal proceedings on behalf of the management company where we have been left with no alternative. However the final approach that is taken will be the decision of the board of directors, but as aforesaid, we do have substantial experience in this area and can advise accordingly.