We offer a full accounting and financial administration service to meet the individual needs of our clients.
We ensure that the financial reporting requirements for each property is fully complied with in accordance with the transfer documents, lease or legislation.
Effective budgeting is essential in the management of any property. The preparation of a comprehensive budget taking into account all short and long term expenditure requirements ensures that repairs can be dealt with quickly and all short and long term and maintenance issues can be efficiently programmed without concern as to the availability of funds.
Each development we manage has its own bank accounts in full compliance with current legislation and enables full accountability. All funds are held in trust on behalf of the owners of the development.
The lease or transfer deed will detail the requirement for the annual reporting of the income and expenditure for the development. We prepare all annual financial statements in full compliance with your lease or transfer document and where necessary organise for an audit or accountants certificate. Once complete the annual financial statements are distributed to the owners.
We understand that the collection of service charge funds in a timely manner is essential. The payment requirements of the service charge is set out in the title document or lease of your property. All service charge balances are reviewed monthly and we have an established procedure to identify problem payers and chase up before, if required, referral to solicitors.