1. Collection of ground rent and service charges in accordance with the terms of the lease.
2. Production of annual service charge estimates.
3. In accordance with current legislation, service charge funds are required to be held in trust, and these funds would be held by Castlereagh in a specially designated client account in the name of your block, on which interest would be earned and credited to the service charge fund. Similarly, a specially designated reserve fund would be set up, again in the name of the block, on which interest would be earned and credited to the fund.
4. The payment of outgoings relating to approved expenditure. e.g. porterage, cleaning, insurance and repairs.
5. The preparation of the annual service charge account and company accounts (including company secretary work), arranging for them to be audited, and dealing with all queries raised by the auditors. If the account indicates that there is an additional charge or a refund due to lessees when compared with the annual service charge estimate, we would arrange for the individual calculations of either the excess or the refund, and forward details to the lessee.
6. The preparation of a quarterly property account on 24th March, 24th June, 30th September and 25th December in each year, or as may be required.
7. Regular visits by the property manager, whose duties will include supervision of day to day repairs, and meeting residents who wish to discuss management matters. We propose that the property manager would attend the building once per week for the purposes of inspection and meetings with residents and staff. We would also encourage regular meetings with Directors from the Freehold Company. Action reports will be compiled with each visit and copies may be sent to Directors if required.
8. Daily contact with head porter/building manager.
9. Receive, consider and act on weekly report sheets from staff.
10. Attendance at management company meetings.
11. The employment of porterage and cleaning staff on behalf of your block, to include the payment of wages, PAYE and national insurance. This includes dealing with all queries relating to these matters, including employment law.
12. We can arrange recruitment of porterage and cleaning staff on behalf of the block, for a fee of £65 + VAT per hour.
13. Maintaining day to day records relating to leases.
14. Ensuring compliance with lease terms and statutory requirements.
15. Ensuring that all maintenance contracts are properly set up in the name of your block, regularly reviewing and seeking competitive tenders as necessary.
16. Dealing with day to day enquiries from all relevant parties regarding management matters, which will include assisting on queries relating to assignments.
17. Where damage is caused as a result of an insured peril having occurred, Castlereagh will make a claim on behalf of the Landlord and will assist lessees to process a claim where appropriate.
18. Ensuring compliance with current Health and Safety Legislation to include water testing, lift testing, electrical testing and compliance with the latest gas regulations.
19. A periodic review of the building will be carried out by our appointed surveyor in order to assist with the good management of the property, and proper financial planning.