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Financial Management

Client Funds

  • All funds are kept in separate client bank accounts in accordance with the RICS
    service charge management code of practice.
  • Client’s current account hold funds received for day to day expenditure.
  • Client’s reserves bank account hold funds collected for cyclical building works.
  • Client’s funds are protected by our PII insurance.
  • Client’s funds are also protected by RICS clients’ money protection scheme.

Service Charges

  • Service charge budgets are prepared and agreed with clients in advance.
  • Service charges demanded in accordance with the following:

    • Your lease
    • Landlord and Tenant Act 1987
    • Common hold and Leasehold Reform Act 2002 section 166

  • Leaseholders pay in advance or by standing order.
  • Ground rents are collected on behalf of the freeholder.
  • Ground rents are paid to the freeholder either on monthly or quarterly basis.
  • Reminder letters are sent before solicitors are instructed for if necessary.

Income and Expenditure

  • Analysis of service charge accounts on behalf of our client.
  • Manage & maintain customer / client service charge accounts.
  • Provide clients with income, expenditure and cost center report analysis.
  • Budget forecasting in advance of the approaching year.
  • Budget Vs Actual expenditure analysis.
  • Variance reports for client’s scrutiny.
  • Monitor of cash flow when paying contractors invoices.
  • Review of final accounts ready for signing by clients.
  • Presentation of Audited accounts by Chartered Accountants to clients.
  • Section 20b notice served within 18 months if audited accounts are delayed.





 Contact Us

 

Tel/Fax:
0844 335 0244


Mobile:
07501 259 612


Address:
32 Woodstock Grove
London
W12 8LE
Company Reg:6633493.

Email: Click here to send us an email via our enquiry form

 

 

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