S R Wood And Son Ltd and S R Wood And Son (Property Management) Ltd Commercial Property Agents and Surveyors in Luton, Bedfordshire

SR Wood & Son (Property Management) Ltd provide residential block management services to management companies formed on behalf of lessees, to developers and resident associations.

We are acutely aware that our clients generally have great demands on their time; our aim is therefore to ease their burden by dealing with the day to day management issues allowing them to focus on other priorities.

Our bespoke computer software is both comprehensive and flexible, enabling us to cater for any specific client demands.

The following is by no means exhaustive but details a number of the services we can offer.

Financial Management

We see the financial management of your development as a crucial part of our role as Managing Agent in protecting your investment. Detailed below are some of the services which we can offer in this regard:-

• After agreeing the services and required frequencies with the Directors, we will prepare a detailed Annual Service Charge Budget which will then be put to the Board for approval. Once approved, lessees will be invoiced for their proportion of the Service Charge in accordance with their leases. Naturally credit control will be undertaken and solicitors will be instructed as required although this may be at the discretion of the Directors.
• Ground rents, in accordance with the lessees' leases, can be invoiced and credit controlled if required.
• Day to day administration of the company bank accounts. Where appropriate, funds will be placed on deposit to maximise the return to the Company.
• Assistance with the preparation of Annual Accounts for filing with Companies House.
• A full Company Secretarial Service can be provided if required.

Financial Reporting

The flexibility of our computer software allows us to provide bespoke reports to assist with the financial management of the Company. The Directors can therefore, within reason, request data to be presented as they wish, however we would suggest the following reports on a frequency to be agreed:-

• Service Charge Report detailing monies due, received and owed by unit.
• Ground Rent Report, if required, detailing monies due, received and owed by unit.
• Income and Expenditure Report detailing monies received and expended against budget.
• Transactional Report detailing all payments made and received.

Provision Of Insurance

We use independent insurance intermediaries to source competitive quotes for the best possible cover.

The types of policies that we can offer are detailed below:-

• Directors and Officers Liability Insurance.
• Buildings Insurance.
• Public Liability Insurance.
• Plant insurance.

Naturally, we would administer any claims liaising with loss adjusters and obtaining quotes as required.

Rebuild valuations can also be undertaken.

Importantly, as you would expect, we have Professional Indemnity insurance details of which are available upon request.

Maintenace

We pride ourselves on the appearance of properties that we manage. To residents and indeed the general public the appearance of a development can often be construed to be the main role of a Managing Agent and should standards fall residents, rightly so, soon get aggrieved.

Obviously the appearance of a development is only one facet of a Managing Agent’s role; however it is a crucial one as if a development is not properly maintained the capital value of your investment is likely to suffer. It may prove difficult to sell and the development will not be a pleasant place to live possibly encouraging crime and vandalism.

To maintain our independence we do not use in house contractors. We maintain the highest standards of works undertaken by conducting site inspections on a regular basis and by adopting the following approach:-

• Obtaining value for money – we do not necessarily recommend the cheapest quote; we recommend the quote that represents the best value for money and ensure that the service paid for is the service received.
• Agreeing the frequency and specification of works with Directors prior to the appointment of contractors. This dovetails with the Service Charge Budget.
• Vet and appoint contractors – we aim to use local independents often known to us and make it clear from the outset that if they do not perform they will lose the contract.
• Obtaining quotations for all repairs for Director approval subject to an agreed limit as instructed.
• Instructing contractors for major works and monitoring progression to completion.
• Negotiating Mechanical & Engineering maintenance contracts.

Site Inspections

As stated previously we conduct site inspections on a regular basis at varying times of the day. As well as a site inspection, the visit will be used to meet with residents/lessees to discuss issues that they may have and breaches of leasehold obligations/complaints. Each month we can report on the following:-

• Wants of repair identified.
• Quotes obtained for Director approval.
• Points raised by residents.
• Points raised by Directors.
• Recommendations, if any, for site improvements.
• Breaches of leases identified.

Breaches of leasehold obligations

Inevitably there will, with any development, be occasions when lessees fall into breach of their leasehold obligations. These breaches can often be difficult to resolve particularly where units have been sublet by the lessee.

Breaches may take the form of washing hung on balconies, parking in unallocated spaces, Estate Agents’ boards, music being played after a certain hour or contravention of some other restrictive covenant. We would undertake to do the following:-

• Identify and log breaches during site inspections.
• Investigate and log reported breaches.
• Advise residents of breaches, report to the Directors and monitor the situation.
• Take legal action to enforce the lease terms if the breach persists.

Assignments of leases and notices

As and when property sales are transacted we can provide the following services:-

• Assist with pre-contract enquiries.
• Provide Service Charge Statements for the relevant unit.
• Liaise with developers and solicitors when applicable.
• The issue of share certificates.

Communication and Meetings

Effective communication is what we feel really sets us aside from the competition. We endeavour to return all calls and correspondence as soon as practicably possible.

We will communicate with Directors in their preferred manner, be it email, post or telephone, and will only provide relevant, timely information.

As part of the Managing Agents’ role it is necessary for them to attend a number of meetings throughout the year which fall into the following categories:-

• Directors’ meetings – To keep the Directors abreast of the management of the Company, its financial state and answer any points that are raised.
• Company meetings – AGM’s and EGM’s for the appointment of Directors, Company Secretaries and Auditors, comply with statutory requirements and to vote on pertinent matters.

Why choose S R Wood & Son (Property Management) LTD?

We are an owner operated company where immediate decisions can be made when necessary. Our reputation is very important to us that is why we will only accept instructions in the Northern Home Counties and London offering our clients total focus and attention to detail.

• This is your home or a major investment and effective management will maintain its capital value.
• Information and support is only an email or telephone call away.
• We do not take contractor commission payments.
• You will have a main point of contact within our Company.
• Bearing in mind that management is an ongoing commitment, what would happen if one or more Directors decided to move and you find your inherited workload too onerous?
• We are completely independent of any dispute that may arise between Directors and Lessees.
• Debt collection can be embarrassing and unpleasant for individuals concerned. As a third party we are seen as independent.
• We will act on behalf of all Lessees as opposed to you acting on behalf of yourself and the remaining Lessees.
• You will have a large say in how the property is managed, it will not manage itself, we are here to work alongside you.
• We can be on site very quickly if circumstances dictate, we only accept appointments if the site can be reached within one hour.
• Effective Management protects Directors’ interests.
• We believe we can install in you the confidence that you are in safe hands and will not be embroiled in minor management issues that we are sure you neither have the time or the desire to action.
• Value for money – you will get the service you pay for.

The Way Forward

We hope you are by now in a better position to consider appointing our Company. The process is simple.

Should you have an existing managing agent there will almost certainly be a notice period to terminate their appointment.

On serving of notice we would naturally liaise with the outgoing agent to ensure a smooth transition. So that you are not left exposed we suggest our appointment starts from the commencement of termination notice being served.

Importantly, you should note that our fees from the commencement of our appointment for a period of up to two months will not be charged for should this overlap the notice period of the outgoing agent – smooth hand over depends on co-operation from the outgoing managing agents.

At this stage we will undertake a detailed site inspection to identify wants of repair, quality of service and value for money from the existing service providers, getting alternative quotations where appropriate etc.

We will provide a Directors’ summary of the financial position to include arrears, service charges and ground rents, together with an assessment of the Company’s ability to meet future commitments.

Appointment

Our standard contract that can be adopted to suit individual requirements is available upon request.

There will be fees to be paid to SR Wood & Son (Property Management) Ltd by the Management Company. The extent of anticipated work involved will dictate the level to be charged.

A competitive quotation can be supplied upon request.