Services

Leasehold and Estate Management

Leasehold and Estate Management Services can be best described as the management of the grounds, structure and common parts of leasehold flats and, in some cases, the management of the grounds and facilities serving freehold houses.   FSPM predominantly acts for Freeholders, Resident Management Companies (RMC) and Right to Manage (RTM) Companies in the provision of their estate management services.   

FSPM works with its client to provide a tailored menu of services to suit the specific needs of that client and the property for which they are responsible. The typical scope of services FSPM provides may include:

  • Annual Budgeting, in consultation with the client and suppliers, helps to provide a good indication of anticipated expenditure and allows for controlled expenditure and helps to avoid unexpected costs to leasehold and freehold property owners. A copy of the budget figures, with a full explanation to the scope of services expected is circulated at the start of the financial year. That's not the end of the process and we will continue to monitor performance against budget throughout the year.
  • Negotiating and supervision of contracts in respect of day to day services, including communal cleaning, gardening and utilities, as well as the administration of planned maintenance projects against agreed service specifications.
  • Collection of service charge, estate charge, insurance and ground rent contributions. Robust credit control processes ensure debts are not allowed to grow unchallenged to the detriment of the client and development as a whole.
  • A monthly property visit and inspection by the property manager. Regular inspections enable problems to be identified at an early stage and remedial action taken, often before the residents are aware of an issue! An inspection report is completed during each visit and a summary of findings can be provided to the client, generally quarterly, but more regular reporting can be provided where managing specific issues.
  • A 24/7 emergency helpline a dedicated service for dealing with urgent repairs to the communal parts of a development that arise outside of our normal officehours.
  • Quarterly client review meetings, to discuss pertinent issues, including planned and ad-hoc works, performance against budget and arrears management. Where required more regular meetings can be arranged.

Commercial Portfolio Management

FSPM acts for freeholders and management companies in the management of the offices, shops and industrial premises that they own or for which they are responsible.  Whilst the services will be to an extent dependent on the legal documentation in place and can be tailored to a client's specific requirement, they will generally include the following:
  • Collection of rents when due and swift transfer of cleared funds to clients' nominated accounts.
  • Maintaining a management diary for events such as rent reviews and lease expiries, or insurance and contract renewals.
  • Preparation of service charge budgets and financial forecasts.
  • Collection of service charge payments and pro-active credit control action at no cost to clients.
  • Arrangement for the provision of services to the common parts of buildings or estates as required by the individual leases or other legal documentation.
  • Negotiation and supervision of contracts in respect of communal services including contractor vetting and accreditation.
  • Compliance with legislation, especially that relating to fire, health and safety.
  • Providing a 24 hour emergency call out service.
  • Organising buildings and other forms of insurance, including arranging reinstatement valuations and assisting in the administration of insurance claims.
  • Undertaking regular site inspections to ensure compliance with lease covenants.
  • Liaison with freehold owners, management company directors and occupiers on all relevant matters.
  • Arranging for the preparation of year end accounts and returns.
  • Attending regular client meetings and providing regular financial reports.

Company Secretarial

It is common for managing agents to be appointed as the corporate Company Secretary to Residents' Management Companies or to Management Companies established to manage and maintain commercial estates.  FSPM is no different and is able to offer the following services:

  • Preparing and filing the company's annual Confirmation Statement at Companies House.
  • Maintaining the company's statutory registers at Companies House, filing changes as necessary.
  • Dealing with transfers and allotments of shares including issuing of new share certificates.
  • Document monitoring at Companies House to ensure the company's records are not being fraudulently amended.

New Build Consultancy

Working with developers from the design stage, FSPM can help ensure that adequate provision is made, both within the design and the on-going management plan, for the cost effective provision of services.  FSPM works with developers and their solicitors to ensure that the scope of services necessary for the efficient running of the development is correctly referenced within the individual leases.  

A comprehensive budget is prepared, detailing the estimated cost of services, for issue to prospective buyers as an integral part of the sales pack, thus ensuring the owners of the individual units know exactly what services are to be provided and the anticipated annual cost.

On the sale of the first completed units FSPM will assume their management role and will continue to work with the developer as well as the individual property owners up to completion of the final sale.   It is generally at this point that the provision of the services will fall solely to the Resident Management Company.  FSPM works with all parties to see the speedy appointment of resident directors to the RMC board and in the ongoing management of the development.

FSPM will also act as a conduit between owners and the developer to resolve any teething issues that may arise in respect of the fabric of the building which affects the building as a whole as opposed to an individual apartment, thus helping all parties to reach a swift and mutually acceptable conclusion.

Residential Portfolio Management

FSPM has 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:
  • Rent collection. 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 action.
  • 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.

Latest news

We are continuing to grow 01/10/2019

Those of our clients who had visited our offices will testify that space was a little on the tight side; conducting face to face meetings whilst peering around a monitor was far from ideal, as indeed was having to rotate as to who worked from home on what day to enable us all a share of office time...more

FSPM Property Management Software Update 12/12/2019

 We are excited to announce that we have today signed a 5 year contract with Trace Solutions for the installation of their dedicated TRAMPS property management software...more

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Contact us

Please contact us using the following details, or via our online enquiry form.

Telephone
(01702) 808287
Email
info@fspm.co.uk