Block Management Services

This is equally true of Block Management Services.  Effective Block Management protects the fabric of your investment by ensuring that those areas held in common with fellow investors are properly maintained, insured and secured at all times. 

 Your Falcondale Block Management Team looks after contractors (including gardeners, cleaners and handymen), obtains preferential quotes for insurance, collects service fees, and answers queries professionally & quickly.

 Falcondale Properties Ltd has taken over the management of apartment complexes at various stages of their development.  Our experience has shown that there are 3 clear categories into which most developments fit, and at each stage different services are required to take account of different circumstances:

New Development Stage:

• Agree a Budget forecast and set an initial annual Service fee for new Purchasers

• Obtain competitive block insurance to take over from Developer Site insurance

• Liase with the Solicitor to set up the new Management Company

• Set up and manage a Bank account in the name of the new Management Company

• Provide all relevant Block Management documentation for purchasers’ solicitors

• File initial accounts with the Companies Registration Office

• Organise services and appoint contractors as properties are occupied

• Organise and Host the first AGM with all owners

Handover stage from Developer to Shareholders:

• Organise and host the first AGM with Owners

• Confirm the Services covered by the Annual Service Fee

• Confirm the Appointment of the Managing Agent

• Change all contact details with Owners, the Bank, CRO etc

• Advise the CRO of the new Directors’ details

• Organise services and appoint contractors as required

Handover stage from Previous Agent:

• Agree a timed Action Plan for the hand over

• Confirm debtors, creditors and bank account

• Organise and host an AGM or EGM as required with Owners

• Contact existing contractors and appoint new contractors where necessary

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DEVELOPER SERVICES

We have specific Block Management Support Services for developers in the first stage of development.  If you are planning your next development, you may be unpleasantly surprised by the amount of administration needed just to sell a unit!

• Organise the block insurance and arrange all the Notices of Interest

• Forward all the relevant Management Company documents to the solicitor

• Open a bank account on behalf of the Management Company

• Lodge and keep track of the service fees

• Set up and maintain a new owners database

• Respond to every request about block management services eg waste management, satellite dishes, post services, rental advice, parking issues etc

• Submit the first 6-month – and possibly 12 month - accounts to the CRO

Let alone setting an accurate budget and service fee in the first place – and all this work before the block is built!

Not only can Falcondale Properties Ltd look after these day-to-day administration tasks on your behalf, we offer a special ‘low-rate’ fee for this specific service to Developers!

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CLIENT SERVICES

The purchase of property – whether as an investor or as an owner/occupier – is a big step to take.  You may have taken a bigger step and become a Director of the Management Company, to make sure things are run properly.  Then, you notice

• phone calls at all hours about broken lights or alarms going off

•  you are expected to keep monthly accounts

• manage the Bank Account, lodging cheques, setting up and chasing Direct debits, reconciling the account each month etc

• ensure documentation is sent to anxious solicitors trying to close sales

• organise block insurance, investigate and manage claims

• deal with noisy tenants and unhelpful landlords

• chase debtors

• pay bills

• find a reputable auditor and make sure accounts are filed with the Company Registration Office………

HELP!  No-one told you that as Director all this work was your responsibility!

Falcondale Properties Ltd  - as your Managing Agent – will look after all the above tasks for you, and more.  And as the Director, all you’ll have to do is sign the Annual Accounts, and check in with your Falcondale Block Manager from time to time, to discuss projects and plan the next AGM – SIMPLE!

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Developer, Owner, Investor, Resident - What can Falcondale offer you?

Preparation of Service Charges Budget outlining Fees for the following year’s block management services

Collection of Service Charges: invoiced annually, and due for payment by shareholders on receipt.

Debtor Management: clearly defined credit control process followed by selective legal action once all other avenues are explored and exhausted.

Payment of all the Company’s Bills and Expenses: where all invoices are carefully checked prior to payment

Maintaining all Bookkeeping and Bank Records: all transactions by the Company are recorded in a transparent manner, and are open to inspection by the Directors and Shareholders.

Preparation of Books and Audit: a full set of Management Accounts is prepared for the directors, audited (where required by the Articles of Association) and submitted on time to the Companies Registration Office (CRO).

Insurance: obtaining competitive block insurance, with accurate re-building costs, public liability etc

General Correspondence:  attending to all correspondence arising out of the day to day business of the Company, including shareholders and directors, tenants reporting faults, contractors and professional services including accountants, solicitors, CRO, insurance brokers etc

Contracts and Services: agreeing, monitoring and reviewing contractor services annually.

Repairs, Renewals and New Work: these will be arranged when requested and all work inspected.

Meetings:  the Managing agent is responsible for arranging the AGM for the company each year, including booking a venue, contacting all shareholders, setting an Agenda, preparing all documentation, and after, issuing the minutes.

If you have any queries or would like further information, contact

Pat Ryan

Block Manager