Block Management
Estate Block Management requires a particular attention to detail, and close-to 24 hour service. Kings provides personal, clear, honest, informed advice and efficient support.
Kings’ Estate-specific Managers’ primary aim is to keep all significant parties fully informed – with transparency and fairness at the forefront of its operational vision. Kings’ administrative Staff perform varied functions; from simply arranging the changing of a blown light bulb in a common hallway, to organizing the comprehensive refurbishment of tired facilities/decorations of a period Mansion block – whatever the task, the same efficient principles of operation apply.
Kings doesn’t just arrange overseeing Concierges, window cleaning and multiuser boiler servicing, but administrative demands are made upon its Staff for all matters, large and small … including, for example, the upkeep of gardens / parkland, resurfacing/kerbing and marking of worn parking areas, repair of
lift/security gate machinery, replacement of aging rooves, and a multiplicity of other possibilities in structural upkeep, repairs and oversight.
Beyond this, the legal framework within which Kings acts is highly specialized, and strict adherence to rules governing the comprehensive transparency of accounting, procedures for impartial tendering, the avoidance of compromises with stakeholder associated businesses, and other materially lawful issues are for what Kings is best professionally reputed.
Each client’s estate has its own intricacies – Kings endeavours to minimise stress points in order to promptly provide the most effective solutions. Whether taking the reins from a poorly-performing competitor Agent, or dealing with ‘self-management’ (including the “Right-to-Manage”), Kings’ straightforward aim is to improve standards and/or create the benchmark for first rate service.
Kings’ standard Block Management services include:
Operating in line with the RICS Service Charge Residential Management Code, the timely collection of service charges and managing client accounts is the base expectation and Kings does not disappoint. Kings can provide a Company Secretarial service and will produce financial reports and year-end balances in preparation for external Accountancy review.
Kings takes responsibility for ensuring its managed properties are properly/regularly risk-assessed, with sympathetic advice/action on full up-to-date compliance – whilst ensuring Kings’ approved suppliers/contractors, when required, have lawful credentials/insurance and H&S certification.
When acquiring a leasehold apartment (or, sometimes, a freehold house, and/or a commercial unit) within the curtilage of a single defined multi-unit development, there are invariably common items that need to be administered. For example; in a high-rise apartment building, the hallways/stairs need cleaning/updating, lifts require servicing, the buildings’ exterior woodwork/rendering will probably need repainting from time to time, let alone gutter clearance, electrical facilities (including car park/pathway lighting), hedge/boundary maintenance and sometimes tree-growth monitoring/surgery/etc. In many developments (including those comprising freehold homes) communal gardens/grounds, driveways, sewerage and security gates, will need ongoing programmed maintenance.
These commitments will usually be documented in a lease (for a leasehold apartment or commercial unit) or TP1 (for a freehold home), and these obligations needing a central figure of administration. A Maintenance/Management plan needs to be developed, a realistic budget prepared, funds require raising, and blue-collar service-providers contracting … and all managed in accordance with the governing documentation and lawful framework. This is most usually the role of the on-site Estate Manager and/or an external Managing Agent.
Estate Block Management fees are sometimes bespoke (calculated upon what is required of the Agent in the context of each individual development) however, Kings offers a minimum ‘Standard Block Management Service’ fee of £310.00 per unit, per annum (subject to full client disclosure, comprehensive site inspection and acceptance by Kings) plus VAT. Where a property might have been poorly maintained/previously managed, this fee may be reviewed upwards with agreement by the client. Where a client requires a ‘bespoke’ service package, the annual charge can either be based on a fixed percentage of the overall service charge demanded or a ‘per-property-per-year’ fee, but will vary dependent upon the extent, nature and complexity of the tasks required, and/or the parameters already defined in any pre-existing/current Maintenance/Management Plan.
Residents/occupiers and directors may take more of a hands-on approach and therefore only require its Agent to deal with certain aspects of the development’s management. Depending on expectations, Kings’ fees will be calculated on the services provided and, as such, may vary from estate to estate.
For example, some of our currently managed developments solely engage Kings to handle their financial administration (albeit, often also concurrently advising on existing/changing regulations), whilst others take an arms-length approach to absolutely all associated pertinent matters.
Founded in 1962, Kings has over 55 years of hard-won experience in the property sector. Specialising in Block Management and Residential Lettings, Kings and its team know how to achieve the best results for its clients.
Kings’ ethos is focused on providing a high quality and personalised services, in order that client satisfaction remains high. We believe that many Block Management companies fall short of the high standards that clients expect, and it is our desire to continue to, amongst other proven levels of attentiveness, sets ourselves apart from our competitors.
Kings tailors its services to the specific needs of the individual client. Providing ‘pre-packaged’ as well as ‘bespoke’ services, ensuring that clients’ expectations are certainly met, and likely surpassed.
Kings has developed strong links and partnerships with innumerable locally and nationally based, tried and tested contractors from multiple disciplines. Assuring that works carried out on behalf of clients are completed to a high standard, and always ensuring firm cost control, through fair competitive pricing and thorough monitoring of all third party affiliates.
Our standard Block Management pricing structure is based on a per-unit, per-annum, charge, irrespective of the number of units under management. However, should the ‘bespoke’ service be appropriate, we are happy to discuss this in order that we create synergy from our client’s needs.
Kings’ standard Block Management services include:
– Quarterly property inspections with electronic reports sent to client afterwards.
– Creation and preparation of budgets, in consultation with Directors/other relevant parties.
– Arranging repairs and establishing regular maintenance.
– Using specialist insurance brokers to determine appropriately comprehensive insurance.
– Managing Health and Safety compliance.
– Creating Service Charge budgets.
– Collecting Service Charges.
– Making payment of supplier invoices.
– Maintaining accurate income and expenditure records.
– Liaising with Accountants.
– Company Secretarial duties including calling & attending AGMs, providing a registered address for clients, and filing confirmation statements and annual accounts.
Kings’ Block Management fee for the standard Block Management Service, as described above, is £310.00 per unit, per annum – plus VAT.
Therefore, as an example: For Kings’ Standard Block Management Service for a small development containing 10 individual units, the annual total fee due to Kings for the services described above, will be £3,100.00 per annum, plus VAT [at 20%] (£620). Any additional services requested of Kings, and pre-agreed between Kings and the client, may incur additional charges.
Please note that if you have differing requirements, or prefer the ‘bespoke’ service package, we will be delighted to satisfy your requirements.
Please contact Kings at one our nearest offices in London, Reading, Maidenhead, Staines or Windsor, for a confidential initial, wholly ‘without-obligation’, discussion about what services might suit your needs.
Tel: 01628 632188