Bespoke services for London Residential Blocks

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1 Bespoke services for London Residential Blocks

2 Why choose us... We have found over the years that the basis for a great working relationship is to be honest about what both parties are looking for. We have never been disinstructed from a block in our portfolio and we work every day to make sure that record remains unbroken. It is our ethos of simple, transparent fees, and open services that has set us apart from other agencies. James Lee Director jlee@blockmanagement.com Typical block under management 12 flats Converted art deco period building 1

3 Overview In autumn 2010, following 4 years in North London, we expanded to cover the whole of Greater London with London Block Management Ltd. Understanding that all buildings are different and that requirements change is key to our management - we create a bespoke solution each time and our fees relate to the service that you require. We provide exceptional service to our clients on the basis that we only manage blocks that fulfil the following criteria: - Buildings that the team are inspired by - Buildings we genuinely feel we can make a difference to We manage a diverse range of property, from new builds to Grade II listed buildings. Our buildings range in size from 4 units to over 100 units. Within three months we aim to rectify all major issues and have the block running to our clients expectations. Typical block under management 14 flats Ten year old development 2

4 Choosing a managing agent Typical block under management 84 flats Converted Georgian dairy We understand that this can be a minefield; if you are dissatisfied now, jumping ship is risky and a huge amount of work for an individual or group to put the management out to tender. On top of that how do you know what service you should be getting? In this overview we aim to demonstrate why choosing London Block Management will be the right choice for your building. Working with us as a management company In the early months our service is dictated by your needs. We can manage all communal areas of your building and have several teams of trusted contractors in place for each possible expenditure. should become a quarterly meeting by the end of the second quarter. If of course any situation should arise where you wanted information, we would this across immediately. We also maintain issues lists for each property on our books for use internally which highlight each matter being worked on and by whom, so as to deal with all issues as effectively as possible. The issues lists are generally updated every 2 days and the relevant sheet is always made available to our clients on request. We are often in very frequent contact for the bedding-in period of three months. This could be at least once a week, generally dropping Typiclal to monthly block under contact management as Initially we use a standard we work 14 flats through any issues, and handover process, which Ten year old development outlines all the paperwork that we need to take over the new property. Our team will work through this with whoever is holding your documents at the time of instruction. As with most agents we have a three month termination period, but London Block Management will begin the handover process on receipt of a letter of intent from new instructions. This means that during your termination period with another agent, we will be working to obtain everything that we need so that on day one of our appointment we are up to speed and ready to start work in earnest. 3

5 What makes us unique Accounts We have a very high success rate in collecting debt (regularly hitting 100% collection on even our largest blocks) and, providing information is forthcoming from the previous agents, typically have the accounts reconciled and totally under control within the first three months of taking over. Our accounting service follows set processes and procedures to handle everything from setting your budget to collecting your service charge and pursuing any arrears. Dedicated members of our team have many years experience in financial and accounting careers. All our blocks have segregated client accounts for leaseholder funds - not only does this mean that your money is never co-mingled with our money, it also means that it is safe in any eventuality. Interest always accrues to the block accounts. We reconcile our accounts weekly so if you would like any financial information it can be given to you at any time, and will be 100% accurate. We also meet with the board of your residents association on a quarterly basis. We will have all the invoices to hand that relate to your expense schedule so you can query any payment and we will be able to show you the invoice that it relates to. In practice, this can be done at any time you ask for it. Transparency We provide you with a service that we know is invaluable, but we don t think this should come at an astronomic cost to you. We believe that fees for estate management should be totally transparent. In accordance with ARMA s guidance, we charge a fixed fee per flat per year depending on the amount of work involved in managing your property. We do not charge admin fees, commission on any supplier or contractor invoices or for any hidden extras. Our fees are index linked and do not increase dramatically from one year to the next. In fact the only items that we would typically charge for outside the basic block management fee are for fees associated with sale or transfer of individual units, which would be charged to the vendor of the flat rather than your management company. In some instances, these simple assurances have saved the blocks we manage thousands of pounds, as we have Typiclal been block able to under remove management up to 30% commission from utility bills and insurance. 14 flats Ten year old development 4

6 Location We feel strongly that we can only provide a premium service to London blocks that are within easy reach of our Central London office. This enables us to visit the block regularly to check up on contractors, monitor and direct staff or simply to undertake routine site visits to check there are no problems. We use several London-wide contractors, but often find that the best service is provided by local firms where we can provide them with a steady volume of business, and in return they provide us with a quality, timely and affordable service. Typical block under management 100 flats and four commercial units 10 year old development Communication We are really proud of the process we have set up in the office, and are delighted that our clients feel the same. s are dealt with within 24 hours of receipt, and often within the hour. Each time the main number is called it will be answered within Typiclal block under management two rings, with no switchboard 14 flats involved. Regardless of who you Ten year old development speak to, your call will be passed to your block manager whenever possible. If they are unavailable an issue will be added to our internal list. This is reviewed by all staff throughout the day and means that we can keep on top of the issues across the team. We also have a single number for all out-of-hours calls, and this is answered 24 hours a day by one of our team. London Block Management can help with anything from a 24 hour locksmith, to a burst pipe. We know how important it is to make sure that our blocks are treated as your homes. 5

7 Our Team We are a fairly small team and all come from very specific backgrounds. As with most things in life, we are stronger together. Each block that we manage has a single point of contact with one of our block managers. Although they would be your day to day contact, this is merely to make things easier for you, and to guarantee that all issues are picked up and acted upon. Behind the scenes, the whole team will be assisting them in managing your block. We realise that each property has different requirements. Once we have had the chance to ascertain your specific requirements each member of the team will be brought up to speed on your block and we have weekly meetings to ensure that all the issues are kept up to date. James Lee - Director James founded London Block Management Ltd to provide property owners and developers with an agency that has simple transparent fees and great service. He has an investment banking background, having worked with property departments of banks in London and New York for many years; he runs our financial team, and works closely with our Block Managers on all service charge, accounting and budget related matters. Jonathan Cutts Accountant Jonathan brings an array of accounting and commercial experience to our team; he served his Articles of Clerkship with one of the then big five accounting firms, where he was an Audit Manager for a number of years. Branching out into commerce, Jonathan has worked as a Financial Director in a variety of fields, including a seven year role for a property holding company. Morven McCaig Associate Director Morven s focus is on the newer properties in our portfolio, ensuring that they are effectively transitioned across to our management. She ensures that our portfolio is compliant from a Health & Safety perspective and offers practical advice on the maintenance and repair side to the team on a daily basis. Morven comes from a family of Chartered Surveyors and has a degree in Real Estate Management and Investment. Typiclal block under management 14 flats Ten year old development Ben Hallows - Associate Director Ben approaches block management from a legal perspective, having previously worked with a city law firm for five years. His thorough understanding of property law and its voluminous legislation is a substantial resource to our team and our clients. Ben manages several of our larger properties directly and also handles negotiations on management agreements and supplier contracts. 6

8 Environmental Policy We are committed to working to minimise our impact on the environment. Where possible we use sustainable materials in the renovation of buildings under our management, replace fittings with products that reduce heat waste and always renovate with a view to long term effectiveness rather than quick fixes. As with everything we do we work to get the best price and product for maintenance to your building. Professional Trade Bodies Typical block under management 8 flats 3 Commercial units 10 year old development We are a member of, The Property Ombudsman, an accreditation scheme for residential leasehold management. And ARMA (Association of Residential Managing Agents), the only UK block management association. Typiclal block under management 14 flatswww.arma.org.uk Ten year old development Professional Indemnity Insurance We have full Professional Indemnity Insurance in place with Royal Sun Alliance. Complaints procedure We adhere to the highest standards of best practice and ethics, complying with all the relevant codes. We operate a formal complaints procedure to deal with complaints from clients and others. Details of this procedure are available from Shauna Kelly: skelly@blockmanagement.com 7

9 Next Steps We would love to meet you and go through our services in detail as we are sure you will have specific questions about your property. Ideally a couple of members of our team would come to site and meet with you - that way we can see the building and get a real feel for the property so that we are able to accurately give you an indication of fees. Not to mention, meeting face to face gives you the chance to make sure that you like us - it s better to work with a company you get a good feel for after all! Meeting guidelines If we are able to set up a convenient time to meet at your property we would suggest that we bring with us examples of the following: Our standard management agreement A quarterly report The handover documents That way we can have a quick chat through all the formal documents, an oveview presentation and have a walk through of your building. This will make the meeting beneficial for all parties. We want to show you that having a managing agent makes life simpler and frees up your time to get back to doing the things that you should be doing. Ideally if you could bring copies of the following, or just be able to give us an overview, this would also really help: Typiclal block under management 17 flats Converted blind factory A sample lease Your latest annual budget 8

10 Contact London Block Mangement Ltd 4th Floor 9 White Lion Street London N1 9PD Tel: Fax: info@blockmanagement.com All the properties featured are managed by London Block Management Ltd or our sister company Islington Properties Ltd. Typical block under mangagement 41 flats 2 commercial units Listed period building c lock under management

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