Block Management - Sheridans

Sheridans

Sheridan's have been based in Shefford for nearly twenty-five years and are hugely experienced in many property areas. We are one of the few companies locally who provide a full block management service. The depth of knowledge and volume of work required from managing agents is such that few companies provide this service. If we are asked to undertake this service Sheridan's will take all the responsibility from the residents and ensure that the block is run efficiently in all aspects.

We strive to provide a reliable and professional service and we maintain a hands on and proactive approach so that clients know that matters will be dealt with efficiently and to the benefit of the development.Our main objectives:-

the building is managed in accordance with the terms of the lease.
the investment value of lessees' and freeholders' interests are protected.
residents can relax knowing they are living in an environment where they are receiving the best quality of service.

We believe we have a deserved reputation for the professional and ethical way in which we conduct our business, which we believe, reflects on the continued expansion of our portfolio. References can be provided from residents of other blocks if necessary.

We are members of The National Association of Estate Agents, The National Approved Letting Scheme and The Estate Agency Ombudsman Scheme. All of these associations have strict guidelines as to how their Members perform. Generally one of the major concerns is the security of Clients money and being Members of these associations gives reassurance that we have the full bonded protection in place for this.

Almost without exception Management companies are run under the guise of a Limited Company and thereby subject to all the regulations pertaining to a limited company.

We will liaise closely with the directors and Auditors and oversee all accounting procedures, making sure the necessary returns to Companies House are lodged. We arrange the collection of all charges and should a tenant default we will arrange to collect the outstanding sums through formal action via solicitors and mortgagees.

Service charge accounts require an annual audit in order to comply with provisions of Section 21(5) of the Landlord and Tenant Act 1985 and appointed auditors are furnished with complete details of all account, invoices etc.

Service charges and ground rents are always placed in designated accounts and a sinking fund is placed in a separate interest bearing account. Correctly structured sinking funds prevent the need to raise additional service charges whenever unforeseen expenditure occurs.

It is very important that residents are kept fully informed at all times and to that extent we will hold regular meetings, send out newsletters and work closely with any residents committee. In fact we welcome input from residents, as it is always encouraging to have people who take an active interest in their own environment.

Because we have a hands on approach we will regularly inspect the site and grounds. This is particularly important where there are flats that are sub-let and tenants may cause problems. We always try and have an accurate list of names of tenants where properties are let.

We have a dedicated team of contractors and for a site to run efficiently a good selection of plumbers, electricians builders etc are always on hand. We will always use any existing contractors that residents have in place.

Out of hours contact telephone numbers are always available for any immediate urgent problem.

If regular contracts are needed for gardening, cleaning etc we will always look at the costings and the standards of work to see if these can be improved upon. For any major work required we will always obtain several quotes and present these to the residents and proceed accordingly.

In this day and age of greater regulations and with more and more statutes being introduced it is imperative that your managing agent is up to date with all the latest requirements in law in order to protect the interests of all owners and occupiers. This includes areas such as Health and Safety, Asbestos and disability acts to name but a few.

The number of flats in a block and the size of the grounds can affect the amount of overall work, and we can provide an initial guide to costs but do prefer to discuss this with residents before coming to an acceptable fee structure. We charge an initial fee calculated on the general size of the management plus a specific fee for each individual flat. These are calculated on an annual basis.

Before we are able to present a detailed package we usually request a meeting with residents or Directors to give us a better insight into how residents wish to proceed and to listen to specific requirements.

We will provide a detailed report outlining our recommendations and detailing our fee structure.

All advice is free of charge.

PLEASE CONTACT US AND SPEAK TO EITHER NICK SHERIDAN OR KAY WILKINS FOR FURTHER INFORMATION.

SHERIDANS CODE OF PRACTICE
For the Block Management of Residential Property.

To agree, in writing, the terms of engagement to manage a client's property, in as detailed a form as is reasonably possible, and to make clear the fee structure and the categories of other services for which additional fees may be charged.
To manage the client's property in compliance with all the current applicable legislation, terms of leases, contract documentation and good business practice.
To provide as cost effective a service as is reasonably possible within the constraints of prudent and planned maintenance and to enquire as to whether contractors preferred or selected by clients or lessees have suitable references, and where contracted to do so, that all final work is checked and signed off before funds are released.
On request to provide guidance to the client as to the insurance requirements under the lease terms and, where required by the client, to supply an appropriate level of insurance cover, based on an independent valuation, sufficient to meet the client's duties.

To ensure that clients' money is kept separate from office accounts at all times and that client accounts can be individually identified. Funds in any one client's account will not be used to finance another client's property. Funds shall be held in a recognised bank or building society in a clearly designated "Client A/C". Our accountants produce a certificate annually to confirm our company's compliance with these requirements.
To maintain a current insurance policy adequately indemnifying the firm against proven professional negligence claims.
To ensure that client's money is properly and regularly accounted for and that any funds or monies required for specific future works are placed on deposit in an appropriate interest-bearing account to earn interest to the credit of that account.
To keep detailed records of all transactions relating to the client's property with all expenditure made from the client's account suitably authorised.
To ensure that annual or other required periodic accounting is carried out promptly, ensuring adequate supporting information is provided or available for inspection.
To concertedly endeavour, where so required, to provide all the necessary information for the audit of any end-of-period accounts so that the audit can be carried out with the minimum of delay.

To extend courteous and professional service to lessees and tenants and to members of the public. As far as is possible to ensure that, in all their dealings, there is no bias and that all are treated equally.
To maintain adequate records of all leases and tenancies and deal expeditiously with enquires, particularly where information is required to assist in a sale.
To be aware, as far as is reasonably possible, of the terms of the leases and tenancies applicable to the property concerned and the effect of legislation and any other relevant documentation, and to deal with lessees and tenants both in the spirit of the legal requirements as well as in the letter of the law.
To ensure that procedures are in place to deal with repairs within an appropriate time scale having regard to the urgency of the matter and the availability of funds.
To actively and regularly consult with the Residents' Association and to encourage them to become part of the decision making process.
To discuss and consult with the Residents' Association where major works are contemplated, and to meet the statutory requirements.
To have appropriate regard to views of representative groups of lessees and tenants, even where they are not a formally recognised Residents' Association.
To manage the premises by enforcing covenants for the common good, where so instructed, fairly and without favour.
To disclose in writing to relevant parties any existing conflict of interest or any circumstances which are likely to give rise to a conflict of interest.
To declare any interest in any contractor or business employed to provide services at the property that may be associated with the managing agent.
To ensure, where there is a change of managing agent, that all pertinent information is handed over the minimum of delay to the new agent.
To place the fullest emphasis on any matter relating to health and safety and environmental legislation, bringing to the urgent attention of landlords and/or residents any areas of concern.
To use all reasonable efforts, both in the interests of landlords and tenants, to settle disputes by mediating and negotiation with all relevant parties.