The Malthouse – Henley on Thames

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Development: The Malthouse
Location: New Street, Henley on Thames
Number of properties: 16

The Malthouse is a high-end development of 11 flats (The Malthouse, a grade II listed building) and 5 mews properties in Henley on Thames.

The problem

In addition to the properties, the site has a car park with separate leases with some of these leases granted to parties who are not property owners at the Malthouse. Additionally, neighbouring third parties with access rights also contribute towards the estate costs meaning that whilst the estate is relatively small, the corresponding financial schedules are somewhat complicated and more characteristic of much larger estates.

When Common Ground were appointed, two previous agents had been unable to transpose the complicated schedules onto their accounting systems resulting in a lot of manual accounting and errors in apportioning the various charges.

The solution

Steve Collier reports “We appointed Common Ground as the Xero accounts system they use gives us real time access to all financial information relating to the estate. This has been a great source of comfort to the directors of the resident’s management company and the apportionment errors have been eliminated.”

“The system has been set up by Common Ground such that the financial information is intuitive to non-accountants which is generally the majority of RMC directors. We’ve been a Xero partner for more than a decade so really do know this system inside out reported.” Alan Draper, Managing Director of Common Ground.

Steve Collier added “We are also very pleased with the advice and guidance we get from Common Ground. We were able to re-furbish our lobby avoiding the cumbersome, and frankly outdated, Section 20 process based on advice from Common Ground. We are also installing Electrical vehicle charging points and Common Ground are very much a leading authority in this field, the MD of Common Ground have authored a white paper on this subject.”

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