FREQUENTLY ASKED QUESTIONS

Love Your Block - A Fully Managed Service

What do you do for a Fully Managed Service?


Our Fully Managed Service (Love Your Block) includes the comprehensive management of your property, including: budgetary planning, collection of service charges, arranging buildings insurance, management of contractors (cleaning, gardening, maintenance, etc.), quarterly property inspections, book keeping, working with accountants to prepare annual reports, enforcement of lease provisions and regular directors meetings (or calls) to report back on all management matters. We also ensure that we provide Directors with Quarterly reports comprising of four main areas: Overdue Service Charge Accounts, Income and Expenditure, balance sheets and budget vs actual analysis. For our Fully Managed Service Clients we take everything off your plate!




Do you provide Company Secretarial Services?


Yes. We also provide company secretarial services to ensure that all legal considerations are taken care of for the Residents’ Management Company including annual Confirmation Statements, maintenance of the Register of Members, the filing of accounts, etc. There is an additional fee per company for this service which includes identity theft protection for up to three Directors by keeping residential addresses off the public register. This fee is paid for out of the Service Charge Account and therefore split between all the Leaseholders.




Are there additional charges for any other services you provide?


To keep our standard Managing Agent fee down for our clients we can ‘bolt’ on extras as and when you need them. Therefore, some additional services have extra charges. However, we pride ourselves on the fairness and transparency of any additional costs that apply. An up-to-date list of fees is always available to you should you wish an updated copy, please just ask. The additional fees are namely for: debt collection (charged back to the leaseholder); legal matters; insurance claims where we do not provide the insurance; provision of materials to you and adhoc requests or administrative tasks to support you with anything that is non-standard.




What happens to bring us on board with Love Your Block?


It’s easy. Once the Freeholder or Directors of the Right to Manage Company have signed the contract, we progress quickly to bringing you aboard. We will review the lease and ensure we set you up as per the terms of your lease. We start with setting up your new Bank Accounts (one for general service charges and one for reserve funds if the lease allows) and transferring any funds you hold into the new accounts. We then create an online directory for you to share the handover information with us electronically. We request that you, or your previous Managing Agent, gives us as much history as possible for us to review. Residents will be communicated with about the change of management and payment details for their next Service Charge payment.




Do you have a spending approval limit?


Approval limits are agreed with either the Directors of the Right to Manage Company or Freeholder and we are happy to work with you to record whatever we both think is required for your property. We always work in consultation with you and so this should not ever be an issue between us.





 

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