Managing Agent walks away after depleting all residents' funds and leaving unpaid bills.
We got them back in track in just 3 weeks.
The previous Managing Agent failed in their duties to collect Service Charges from leaseholders resulting in ever-diminishing funds. Rather than perform their duties properly, they walked away and left the leaseholders with no money (ensuring they'd paid themselves first).
We worked closely with the Residents' Association to rebuild trust with the leaseholders so that we could bring the Service Charge arrears back on track. Our open approach meant that 95% of the Service Charge arrears were paid within three weeks and the remainder within 3 months.
We cleared the debts from the previous agent and ensured that the maintenance services were able to resume with minimal disruption.