Stop Paying Expensive Administrative Costs

When renewing or starting a fresh, you should ask for a list of administrative costs. These costs are associated with either providing documents or dealing with 3rd party obligations. Being an a corporate member of ARMA, we have to show a basic price for providing our service to;

• Maintaining the building
• Managing the accounts (In name of the Residents Association/Management Company or RTM
• Arranging asbestos reports and fire risk assessments
• Check all contractors have insurance, carry out health and safety assessment
• Arranging insurance (commission depends on leases and contracts)

Administrative Costs

• Dealing with insurance claims
• Replying to solicitor enquiries
• Providing company documents (Share Certificates, Notices of assignment and deed of covenant per the lease
• Supplying additional copies of the accounts and other documents( discretionary fee per document
• Preparing Client Company accounts
• Late payment fees
• Court Action Fees
• Dealing with freeholder issues
• Legal action on behalf of client
• Additional meetings required
• Emergency call outs
• Stationary and Postage

These associated costs vary from managing agents, but can cost up to 40% of the basic fee. All prices can be influenced per the lease. All leases are different some include what the cost should be; others may say that the fee shall be reasonable amount.

We at 2ManageProperty offer transparency on our costing aimed to be fair and reasonable.

Contact us for a free quotation.