Red Carpet operates a full management service including in house maintenance and work extremely well with Resident Associations and Management Companies. We work in accordance with the RICS Code of Practice for the Management of Residential Buildings.
LANDLORD & TENANT, HOUSING, LEASEHOLD REFORM
Red Carpet endeavours to keep abreast of the ever-changing parts of the relevant Acts relating to the management of residential property, and notices are sent out informing their tenants and clients of these changes.
GROUND RENT COLLECTION
Ground Rents are requested on their due date according to the relevant leases. They are sent out on the appropriate form incorporating Sections 47 & 48 of the Landlord & Tenant Act 1987.
Service Charges for the maintenance of the buildings are set at the start of each year by way of a budget, and the interim payments to be paid by each tenant is based on that budget. Requests for payment are sent out annually, half yearly or quarterly, and in some instances we offer a monthly payment scheme but only by standing order.
Service Charge moneys are retained in a designated statutory clients account in trust for each property.
Each property has a separate accounting system and at the end of the year, this can be handed to Accountants for Certification. All Tenants receive a copy of the certified accounts together with a statement for their property showing their share of the total property expenditure and how their payments have been utilised. Any shortfall is then requested, and any credit shown as being held and to be carried forward.
In some cases a regular payment is made to the cyclical fund for larger works and this is shown on the Service Charge account as a contribution to the sinking fund which is also held in a designated account
The general day to day running and maintenance of the property is run from our offices. This involves settling the common parts electricity accounts, supervising the cleaners and gardeners and paying them, organising the buildings insurance, dealing with "lessees" problems, arranging for the servicing of drains etc, TV aerials, entry phones, clearing of gutters, roof repairs and anything relevant to the property. The Contracts for these services are now subject to Notices under the relevant Landlord & Tenant Acts dependent upon the cost of the annual contract.
We also arrange the statutory inspections for lifts, asbestos risk, fire risk assessment and electrical installations as and when these are required.
This involves the works required to the building on a termly basis in accordance with the terms of the leases; exterior repairs and decoration, common parts decoration, roof renewals etc.
In the first instance, we hold discussions regarding the type and extent of the works required. Then a Specification of Works is prepared. At this stage the first of the Section 20 Notices is sent out informing Tenants that the work is intended to be carried out, the cost of the works, and giving a consultation period during which they can nominate their own contractors. The specification would then be sent out to tender in order to obtain a minimum of two quotations, at which time we would serve the second Landlord & Tenant 1985 Section 20 Notices on all the lessees inviting their comments. At this stage we would also request payment for the works from each tenant if there was no provision already in hand for the payment of these works. There is a deadline for the payments to be made which must be before the commencement of works.
Once a price and Contractor has been agreed, we would then instruct both the Contractor and Surveyor (where required) to carry out and supervise the works respectively. From experience the Surveyor is required as back up as they take responsibility for preparing the details of the work to be carried out and ensuring that it is done correctly and we have the assurance that all Contractors are quoting for the same job and not writing their own specification and ultimately their own cheque!! All the Lessees are given details of the Surveyor so that they may notify him of any points concerning them/their part of the building if and when it arises during the progress of the works.
During such works regular visits are made and we would be in attendance when the Surveyor makes his inspections.
We are sent the Buildings Renewal Insurance by the brokers each year prior to the renewal date. We would compare this to the previous year's premium and inform the client as to whether it was a large or small increase and depending on the size of the increase we ask if you would like us to get alternative quotes and if so we contact several brokers and then give the information to the client to confirm with whom we should proceed.. The Insurance Premium is included in the service charge budget and the premium is settled out of this each year. Tenants still have to accept the Landlord's choice of Insurers for the insurance of the building, unless they are an RTM Company. All tenants are sent a copy of the schedule, to which they are entitled to receive once a year, any further copies required during the Insurance year is subject to a small administration charge.
All claims relating to the building insurance are dealt with through our offices, we would first inspect the damage as experience tells us that this is not always as bad as it first seems and especially where water damage is concerned no claim may be necessary once the damage has dried out and making small water damage claims is counterproductive because it just raises the excess on the policy. We would expect common sense to prevail in these matters.
We are not authorised by the FCA in respect of Insurance and can only act where we are the Company Secretary for the Management Company.
Our management inspections are on a regular basis and each visit is logged and any points which are to be taken care of are dealt with the day after the visit. Memos are sent out regarding rubbish disposal, security etc. Landlords/Clients are e-mailed a "report" on the visit.
We also draw up a list of "guidelines" for each building as may be relevant, which includes the requirement of non -resident owners to provide details of their tenants and a copy of the gas safety check certificate, good housekeeping in order to keep drains and gulley’s clear, procedures if one tenant's mishap affects another etc.
We also handle all enquiries from solicitors regarding proposed sales of flats within the block and supply all the information required. There is a separate fee for this which solicitors find to be normal.
We carry Professional Indemnity Insurance.
This is a brief description of what we do, for more information or to discuss your requirements, please call us on 020 8343 0678, or email on firstname.lastname@example.org