Leasehold Management is the management of the communal areas of residential properties. These properties may include purpose built flats, converted houses and privately run estates. In order to meet the costs of the communal areas, owners of such properties collectively pay a “service charge” which is usually administered by a Managing Agent on their behalf.
Leasehold Management and the administration of service charges is one of the most complex issues in property management. There is a minefield of legislation relating to block management and service charges. Advice from a professionally qualified Managing Agent is invaluable in avoiding the pitfalls of the Commonhold and Leasehold Reform Act 2002 and other legislation.
We at Inspire Property Management take a proactive stance to Leasehold Management and believe that wherever possible, works undertaken should enhance the value of properties rather than simply maintain the value of them. To this end we will work closely with Freeholders and Representatives of the Resident Management Company to provide a programme of cost effective management. This allows for the maximisation of the capital value of buildings whilst at the same time maintaining service charge levels, which are sustainable and at an economic level.
Unlike larger national companies we can offer a personal service, we have staff who make it their role to know your property and your needs and are interested in resolving any concerns you may have.
Appointing Inspire as your agents
Our approach is “One shoe does not fit all”. All quotations are tailored to the property and the client therefore we can not give quotations before first indentifying the following:
- Lease requirements
All Leases are different and we must ensure that the property is managed in accordance with the Lease. We therefore request a copy of the Lease.
- The clients expectations
Quotations are tailored to the level of service required by the client. This varies from client to client depending on the level of involvement. For instances some clients like to meet with us every three months, others are happy to meet with us only ones a year. You may wish for us to administer everything to do with the lease and the service charge or you may wish for us to demand and collect you service charge only.
- Type of property
A grade one listed building has very different challenges to a newly built development of houses!
Examples of the service you can expect
- A service that is personal to you, with professional staff dedicated to resolving any concerns or problems you may have.
- A service that responds when you need it. All our staff are easily accessible morning, noon and sometimes…night.
- Transparent management costs.
- Regular site inspections.
- Annual budgets prepared, presented and approved with the directors.
- Collection and accounting for service charges
- Recovery of service charge arrears
- Calling and attending AGM and Board Meetings.
- Acting as Company Secretary.
- Prompt attention to repairs and emergencies.
- Access to our approved contractor list and service providers, which means we can on many occasions offer you not only competitive rates but in most cases savings on services.
- Managing & reviewing contracts, such as cleaning & gardening.
- Planned preventative maintenance.
- Supervise and administer major works in accordance with the Leasehold and Commonhold Reform Act 2002 and section 20 of the Landlord and Tenant Act 1985 (as amended).
- Compliance with lease requirements.
- Legal matters.
- Respond to solicitors & Leaseholders enquiries on assignments, licences and consents.