Estate Management Package (Freehold Properties)

At Common Ground we have extensive experience of running estates where there are only freehold properties but where freeholders are members of a residents management company and are covenanted to pay an “estate charge”.

There are some distinct differences between running an estate where there are ONLY freehold properties and NO leasehold properties.

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Firstly, freeholders bound to an estate charge do not have the same obligations under the Landlord and Tenants Act 1985 & 1987 so the administrative process differs slightly compared to managing leasehold developments. This has some advantages in that the management fees are considerably lower than equivalent leasehold estates with similar numbers of properties but those bound to estate charges have far less rights.

….but rest assured, Common Ground possesses the knowledge, experience and processes to be able to manage your estate whilst giving powers of decision making to the residents (via the residents management company).

For more information please see I own the freehold of my property. Why do I have to pay an estate charge?

Services

Opening and handling one bank account

Preparing and sending out estate charge estimates

Collecting estate charges and reserve fund contributions including sending any required statements

Processing payments relating to the Property within expenditure limits and funds available or as reasonable expediency shall dictate

Providing information to accountants for preparing annual accounts

Maintain and provide an online accounts system and grant authorised parties access to this

Using all reasonable endeavours to collect current and ongoing routine estate charge arrears from but not prior to the date of commencement of our appointment or requiring legal work or involvement of the Court

Providing reasonable management information to the Lessees in respect of the Client and Managing Agents details, estate charge budgets and works, estate rules and regulations

Liaising with the Client concerning the general management of the estate

Entering into and managing maintenance contracts on behalf of the Client

Viewing the property 2 times per annum without the use of inspection equipment, the common parts of the property to check condition and deal with any necessary repairs other than major repairs

Organising periodic health and safety checks (but not specialist checks and tests) as appropriate

Consulting with the Client on management matters

Dealing with day-to-day Resident issues and reporting to and taking instruction from the Client on Resident dissatisfaction

Maintaining adequate/suitable files and records on the management of the Property

Keeping records of residents and tenancy details where provided

Control operating costs within the approved annual budget subject to the Client adopting within the budget any recommendations on cost items made by the Manager

Prepare each year an estimate of annual estate charge for the consideration of the client no less than 4 weeks before the financial year end

Agree or resolve, if reasonably possible, all matters outstanding with the previous managing agents within 6 months of the handover date

Review and update 5 Year Maintenance Programme each year

Respond to all Resident communication within a reasonable period and provide action and/or resolution within a reasonable period

Additional services

Service

Price

Advising the Client on all relevant legislative and regulatory issues and general interpretation of land registry documents

£60 + VAT per hour

Acting as Company Secretary

£250 + VAT per annum

Storage of physical files/archives (per 20 litre container)

£90 + VAT per annum

Preparing specifications and contracts for minor works and services such as utilities, mechanical and electrical contracts, gardening, and overseeing the administration of such works

£60 + VAT per hour

Advising and liaising with Client on management policy

£60 + VAT per hour

Arranging, attending and minuting a resident/director meeting during office hours.

£250 + VAT

If held online £100 reduction

£150 + VAT

Arranging, attending and minuting a resident/director meeting outside of office hours

£450 + VAT

If held online £150 reduction

£300 + VAT

Arranging and attending on-site meetings – Contractors

£60 + VAT per hour

Attending onsite meetings with residents/RMC directors

£60 + VAT per hour

Finance time over and above maintaining the books (All finance details will be on our online accounts system)

£60 + VAT per hour

Locations and Coverage

*We are able to service freehold sites that are within 2 hours travel time of one of our offices. Please note, our indicative pricing is subject to site survey, location and TP01 review.

Henley on Thames (Head Office)
Chiltern House,
45 Station Road,
Henley-on-Thames, RG9 1AT

T 01491 525 940

Oxford Office
Sandford Gate,
East Point
Business Park,
Oxford,
OX4 6LB

T 01865 910 169

London Office
Ealing Cross,
First Floor,
85 Uxbridge Road,
London,
W5 5BW

T 020 4551 9116

If you’d like to discuss our Freehold Site Package in more detail and upgrade your property management, contact us today on 01491 525 940 or submit a message with further details about your site.

I look forward to assisting you soon.

Submit message

Ed Hughes

Senior Property Manager

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“Having experienced a block managing agent that seemed to have no control over spending, it's refreshing to work with a managing agent that is 100% transparent. Their portal system enables tracking of maintenance tasks and their use of the Xero accounts systems means that directors can keep track of all expenditure. Highly recommneded.

Daniel

I very highly recommend Common Ground. Their conscientious team is highly professional, experienced and efficient, which is extremely reassuring to Directors and responsible owners of properties. They are pro-active, helping to plan ahead and to anticipate problems, which they can deal with firmly but sensitively. They are a pleasure to work with.

Clive

We moved to Common Ground from one of the large national agents. The list of maintenance items that required attention was growing longer and longer as we were moved from one property manager to the next. Common Ground stood out from the day the MD came to assess the site and fixed two of the outstanding maintenance items during that visit. Common Ground worked through the maintenance items which we were able to track through their portal system. It’s also been a pleasure to have the same property manager and accountant throughout. The continuity is important, so it is good to work with an agent that retains its staff.

Hila

Our relatively small development was rescued by Common Ground after a disastrous initial situation caused by the inefficiency of the managing agents appointed by the developer. After examining the situation Common Ground came up with a first rate transparent management system which gave directors full and instant access to accounts and other matters, such as legal advice and rights of leaseholders. They make managing easy for directors and attend to everyday problems promptly.

Eddie