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Service charge budgets
PL Management Limited manage the building’s
accounts on behalf of the lessees through the service charge
budget. This budget is estimated annually and occupiers pay
their apportionment into the account based on the terms of
their lease. Service charges will be demanded two to three
weeks before the due date and followed up two weeks after
the due date by a reminder.
Clients Money
A dedicated client account will be opened
into which all service charges will be deposited and from
which all payments for the development will be made. Contributions
to the reserve fund are dealt with in a similar manner.
Cost Estimates
All cost estimates are provided on the basis
of one full year and full occupation using our experience
of similar properties and where possible, quotes have been
obtained. It may become necessary to amend items contained
in these estimates due to changes in specification made by
the developer or in the light of operational experience before
or after the first occupation in a new development or due
to any unforeseen expenses in existing developments.
For providing this management function PL
Management Limited will add it’s fee to the service charge
budget. Services we will provide for this fee:
- Produce annual spending estimates to calculate service
charges and reserves, as well as administering the funds
and providing information to auditors
- Produce and circulate service charge accounts and supply
information to leaseholder/tenants and residents associations
- Tender, place and administer buildings, plant and lift
insurance
- Engage and supervise staff such as concierges and cleaners
- Tender, place and manage maintenance contracts on services
like lifts, fire equipment and pumps, plus contracts for
utilities provision, gardening, cleaning, window cleaning,
refuse collection etc
- Pay contractors and suppliers
- Regularly inspect property to check condition and deal
with routine repairs to buildings, plant, fixtures and
fittings
- Look after routine enquiries from leaseholders/tenants
- Keep records on leases and other matters
- Keep landlords informed on changes in legal requirements
and check compliance with lease terms
- Advise on management policy
- Produce annual accounts and arrange for auditing and
other statutory requirements
- Administer bank accounts held in trust
Services we can also provide for an additional
fee
- Giving court evidence on recovery of unpaid rents or
other charges or on compliance with lease covenants and
service charge arrangements
- Advising on rating, planning improvement and other grants,
insurance claims and valuations
- Preparing replacement cost assessments for insurance
purposes
- Considering applications for alterations
- Advising on assignments of lease, subletting and change
of use
- Preparing agreements and checking inventories
- Copying documents, insurance policies and accounts
- Employing and working with other advisers
- Advising on and arranging assured and short hold tenancies
- Dealing with solicitors about sales of apartments.We
understand that emergencies can happen at any time so
we provide a 24-hour reporting helpline.
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