Block Management Services

• Collection of ground rents and service charges
• Preparation of service charge budgets and financial forecasts
• Arrangement of all Flat Management functions and negotiation of contracts
• Appointment of contractors & payments
• Organising building insurance and handling any claims
• Regular property visits
• Liaison with residents on all matters plus other parties
• Calling annual general meetings and attending same, and dealing with minutes
• Preparation of year end accounts
• Regular reports to Freeholders
• Major repairs and maintenance quotations
• Emergency contact
• Updates on current legislation's - Landlord & Tenant Act

Collection of Service Charge and Ground Rents

Organising the collection of service charges on an quarterly basis plus issuing demands for the collection of service charges and, where appropriate, ground rents and dealing with arrears including involvement with the mortgages or the Management Company's Solicitors, as appropriate.

Preparation of Service Charge and Budgeting

In accordance with the lease the Service Charge is carefully budgeted, usually at the beginning of the block's financial year. A breakdown of the Service Charge budget is sent to each flat owner for comments and observations prior to the Service Charge demand being sent out. Service Charge is then billed in accordance with the lease.

Appointment of Contractors & Payment

Regular contractors are carefully chosen to provide a good standard of workmanship and reliability at a realistic price. Their work is continually checked. As Globe Property manage a number of blocks, we are usually able to negotiate a more competitive price than an individual, based on the volume of work we are able to offer. This saving is passed on to the flat owners. Advise on existing contracts, both ongoing services and contracts from the point of view of scope of work and the advisability of obtaining alternative quotations. Dealing with the authorisation of payment of accounts rendered by contractors.

Regular Property Inspections

Upon our engagement as managing agents the property is inspected to assess any repairs or maintenance required. Recommendations are also made with regard to periodically occurring maintenance such as redecoration and the provision of regular services such as cleaners and gardeners etc. The property is visited by a qualified representative of Globe Property at least once per quarter.

Accounting & Preparation of Year-End Accounts

We have the most up to date computerised accounting system showing instantly the financial position of a block at any one time. This also shows a list of debtors and any amounts owed to a contractor. Regular financial statements are available to the Directors showing the present position of the company's finances. Globe Property will prepare accounts to a trial balance stage for the end of the service year. Receipts, invoices and cashbooks are sent to an independent accountant to prepare the end of year accounts. A copy of the accounts is sent to each flat owner.

Provision of a Sinking Fund

At the end of each Service Charge year any surplus funds will be put into a sinking fund account. Any shortfall will be recovered from this account, or from the flat owner as Excess Service Charge.

Buildings Insurance

Competitive quotations are obtained for building insurance cover. The level of cover offered by the policy is carefully scrutinised to ensure that cover is sufficient. The building sum insured is also checked for accuracy. A certificate of insurance is available to each flat owner on request. Administration of claims to include liaison with Loss Adjusters.

Major Repairs & Maintenance

For major repairs and maintenance, at least two quotations are sought from independent contractors. A detailed specification of the works will be drawn up as a basis for the quotation. Copies of the contractors' estimates together with the specification of works will be sent to each flat owner, whereupon they will be allowed a thirty-day consultation period prior to the works taking place.

Annual General Meetings

Annual General Meetings and Extraordinary General Meetings are held in accordance with Company House requirements. Minutes are taken and directors and secretaries are elected. A copy of the minutes is distributed to all flat owners.

Liason with Residents and other Parties

Respond to enquires raised by individual lessees and to ensure that all necessary information is circulated to lessees, as required. Dealing with Solicitor's conveyance enquires to the sale and purchase of apartments/flats with the property block.

Regular Contact with Freeholders

Globe Property will hold regular contact with the directors to discuss and advise in respect of ongoing matters. Changes in legislation, planned maintenance and other matters affecting the property.

Emergency Contact

As well as dealing with routine enquiries we have a 24 hour answering service together with an after hours telephone number in the case of an emergency.

Current Legislation - Landlord & Tenant Acts

We are well versed with the current legislation governing the management of leasehold property. We ensure that it is always complied with and advise our clients of their rights and legal obligations under the terms of their lease.

Fees

We operate on a fixed fee per unit to be payable quarterly. Circumstances where we may be required to carry out additional one off tasks cover such things as the supervising of major building works or carrying out such things as insurance valuations will be an extra charge.