What do we do? - What is property manangement?

At GCS we can incorporate the following services into your management contract. The list is not exhaustive and remember we can build a customised package to meet your particular needs.

Taking care of residents funds

In accordance with the RICS Residential Management Code all client funds are held at a recognised bank and in a designated client account with the client’s name in the title of the account. Any long term reserve funds can be held in an interest bearing deposit account which once again has the client’s name in the title of the account.

Budgeting and building funds for future requirements

We have considerable expertise in producing annual service charge budgets and long term financial plans that provide our clients with comfort in the knowledge that the long-term and cyclical costs of their estates are being factored in to the service charge budget to significantly reduce the likelihood of any future unexpected shortfall of funds.

Collection of service charge and debt recovery

We operate a computerised property management system that automates the billing of service charges and ground rents in accordance with the lease terms. This means that charges are always billed on time and recorded accurately on individual leaseholder statements.

We have a well-established procedure in dealing with service charge and ground rent payment defaulters. We recognise the importance that the vast majority of leaseholders place on the timely collection of funds and we strive to resolve any arrears situations as promptly as possible. Where we encounter a more stubborn defaulter we utilise the services of a specialist property debt collection agency whose fees are normally added to the individual leaseholder’s account.

Preparation of statutory & service charge accounts

Residents’ accounts are kept in accordance with the Royal Institution of Chartered Surveyors (RICS) byelaws and regulations.

A firm of independent chartered accountants prepares the statutory and service charge accounts on an annual basis.

Regular management reporting

Our computerised property management system enables us to produce customised reporting to meet the needs of individual clients. Reports can be distributed by email attachment to the directors of a management company to an agreed schedule.

Assignment of properties

We assist with the assignment of properties responding to solicitors’ pre-sale enquiries and liaising with vendors and purchases solicitors through to completion. We will raise documents required under the lease such as deeds of covenant and Land Registry release certificates. Once notified of completion we will issue all the necessary documentation for the registration of the new owner including share and membership certificates.

Our fee for responding to preliminary enquiries is £130.00 plus VAT. In addition to this fee we make a further charge payable by the new owner for the documents required for their registration.

Company secretarial services

For many of our clients, we act as company secretary for their limited company. This enables us to deal with maintaining the company’s statutory books, issue share certificates to new owners and file all necessary returns and other documents at Companies House. We will also deal with all aspects of your AGM & EGM meetings ensuring the venue is booked, notices are served in good time and all aspects of company law are complied with.

Arranging insurance

Building insurance is placed on the basis of the re-instatement cost and this should be re-valued periodically to ensure that your development is correctly insured. The sum insured is index-linked each year to stay in line with construction market costs.

Public & Employers liability insurance may be automatically included within the building insurance policy, but if your development does not require a buildings block policy then it is likely that you will need to ensure separately.

If your property has a passenger lift then your statutory requirements can be met by a separate engineering policy.

Directors and Officers insurance provides cover against actual or alleged breach of duty; this is not a legal requirement but a common-sense safeguard for directors who are giving their time and efforts on a voluntary basis.

We have access to comprehensive policies at competitive rates for all your insurance needs through our network of insurance brokers.

Major works

Where repairs and maintenance requirements fall under the category of major works as defined by Section 20 of the 1985 Landlord & Tenant Act(as amended), we make sure the consultation process is rigidly adhered to, thereby providing complete transparency and ensuring that each leaseholder has the opportunity to comment on the scope and cost of work and the contractor selected to carry it out.

Planned preventative maintenance

Our planned maintenance programmes ensure that our clients enjoy piece of mind that their investments are being properly looked after and that repair costs are minimised through identification and elimination of potential defects before they escalate.

Reacting to emergency and ad-hoc maintenance requirements

Our own in house maintenance division enables us to provide a prompt and cost effective response to emergency and ad-hoc maintenance requirements. In addition to this we have built up a comprehensive network of tried and tested contractors providing specialised services across the full spectrum of residential property requirements.

Dealing with tricky neighbour issues

Disputes between neighbours can be often be tricky and can require a pragmatic approach to ensure they do not develop into bigger conflicts that are disproportionate to the original problem. Often an ‘arms length’ approach can bring reason to a dispute and this may be a simple as getting the parties talking to each other.

Enforcement of lease covenants

Ensuring the terms of the lease are enforced is an essential part of the property manager’s role. Whilst a common sense approach to out dated regulations may be required, taking a relaxed approach to upholding the terms of the lease may lead to irrevocable precedents being set that are regretted years later. It is therefore essential that the property manager works with the directors of the residents company in forming a clear policy on enforcement of the terms of the lease.