Objectives and Services Provided
We use our best endeavors to provide the highest standards of property management and accounting available.
The following is a schedule of services we undertake, which can be adapted and tailored to individual properties:
1. Collection of ground rents and service charges, in accordance with the terms of the leases, and the agreed annual service charge estimate.
2. In accordance with current legislation, RICS Code of practice, and ARMA, service charge funds are required to be held in trust, and these funds would be held by K&M Group Limited in specially designated client accounts on which interest would be earned and credited on the service charge fund. Similarly, specially designated reserve funds would be set up, on which interest would be earned and credited on the fund.
3. The payment of outgoings relating to approved expenditure up to a level previously agreed but not to exceed the Statutory Consultation limits.
4. Reconciled bank statements.
5. The preparation of the annual service charge accounts arranging for them to be audited and dealing with any queries raised by the auditors. If the service charge account indicates that there is an additional charge or a refund due to lessees when compared with the annual service charge estimate, we arrange for the individual calculations of either the excess or the refund, and forward details to the lessees.
6. If required, the preparation of half yearly accounts.
7. If required, preparation of half yearly cash flow charts showing comparisons between budget and actual expenditure.
8. Regular visits by K&M Group Limited, whose duties include supervision and/or repair work itself. Meeting residents who may wish to discuss management matters.
9. Regular contact with staff employed at the property.
10. Receive, consider and act on weekly report sheets submitted by the staff responsible.
11. Attendance at residents’ meetings.
12. Attendance if required by K&M Group Limited at the Annual General Meeting to include distribution of any notices.
13. The employment of staff on behalf of the client to include the payment of wages, PAYE and National Insurance. This includes dealing with all queries relating to these matters, including employment law.
14. The recruitment of porterage and cleaning staff on behalf of the client.
15. Maintaining records relating to leases.
16. Ensuring compliance with lease terms and statutory requirements.
17. Ensuring that all maintenance contracts are property set up in the client’s name, regularly reviewing and seeking competitive tenders as necessary.
18. Dealing with the day to day enquiries from all relevant parties regarding management matters, which will include assisting with assignments. However an additional fee would be charged to lessees concerned for providing a management pack.
19. Where damage is caused as a result of an insured peril having operated, K&M Group Limited will make a claim and will assist lessees to process a claim, and can assist in providing a quotation at a reduced discount.
20. Ensuring compliance with current Health and Safety Legislation to include water testing, lift testing, electrical testing compliance with the latest gas regulations.
21. K&M Group Limited will undertake a review of all services provided, where we believe savings can be made without affecting the service provided. This applies especially to utilities and mechanical services.
22. K&M Group Limited operates a building and maintenance department. We provide all clients with a dedicated and prioritized repair and maintenance service, which is included in our annual fee. This also includes out of hours, weekends and public holidays. All work undertaken is discounted by 10%.
23. We charge a fee of 8% for contract administration of major works. If we are invited to tender and are successful in undertaking the works this fee would not apply.