considerable experience in the management of residential property portfolios regardless
of size or geographical location, providing landlords with a single point of
contact for its management. The obligations placed upon residential landlords
are wide ranging but, if breached, can result in criminal prosecution. The core management services FSPM offers
to residential landlords include:
FSPM will arrange the
prompt collection of all rents and other monies due, remitting all monies
collected to the client less any agreed commissions or disbursements and
providing a monthly statement detailing all income and expenditure.
Rent and Damage deposits. FSPM will
collect the agreed deposit from the tenant and, acting as stakeholder, place
the same in a designated bank account. The amount of the deposit will be
registered with a government approved body.
Repairs. FSPM will identify and arrange all routine
repairs necessary for the proper maintenance of the property, up to a financial
limit set with the client and using properly accredited contractors. FSPM is also able to undertake major works
projects, preparing formal specification and following a competitive tendering
process. Once a contractor is appointed
FSPM can supervise works through to completion.
Compliance with Legislation. FSPM will
ensure compliance with The Gas Safety (Installation & Use) Regulations
1998, Electrical Equipment (Safety) Regulations 1994 or such amendments or
other relevant legislation relevant to the safety of equipment and/or services
at the property. The necessary
inspections and certification will be arranged via accredited contractors.
Credit control. FSPM will take all reasonable steps to ensure
rent and other monies are collected. Where appropriateit will seek
to agree repayment plans with tenants for the settlement of arrears or, where
necessary and in consultation with the client, take the appropriate recovery
Property inspections. FSPM will
ensure that each property is periodically inspected and a pro-forma inspection
report completed. Any items of disrepair will be dealt with as soon as
practicable and in accordance with the practices outlined above.
Payment of outgoings. FSPM will
make payment of client outgoings, including for example maintenance costs,
utility charges, insurance premiums and ground rents payable in relation to the
property. Such payments are usually made from rents received or from a
retained "float". Monthly accounts will be provided identifying
all income and expenditure incurred.