Approximately 6 weeks prior to the Qtr day or if monthly approx. 3 weeks prior to the due date, the invoices for the forthcoming period are emailed to the occupiers. The management software records the delivery of the invoices and copies on file in the event the occupier wants further copies in the future.

The rents are due on the due date and we will endeavour at all times to ensure the monies are received. Once received, the monies are recorded within the management software against the charges outstanding. Dependent on the charge, the software will allocate the monies to “client” funds or “service charge” funds. We encourage electronic payment from the occupiers.

Internet banking facilities are arranged with the leading banks and we will at all times endeavour to pay clients on the day the monies are cleared in our accounts. The monies are transferred electronically and dependent on the client’s bank can be available to them the same day.

We value our suppliers and contractors and whilst their payment terms may be 30 days, we endeavour at all times to pay their invoices by BACS on the day the invoice is received.

With our skill and experience, we aim to keep debts to a minimum. At all times we encourage communication from the occupiers so that if there is an issue we know about it in advance and can plan and manage the issue. If an occupier fails to pay at the correct time, the management software will immediately notify the property manager.

There are a number of considerations taken into account for each debt ranging from the clients wishes to the history of the occupier and cause of the debt. Each is treated on its own merits promptly and professionally. Rarely do we require enforcement officers but if the need arises we use one of the most respected companies in the marketplace.

Our constant objective is to ensure that the costs of occupation are provided economically and cost effectively. We appreciate that active control of expenditure will enhance a buildings desirability to many occupiers.

• Budgeting

  • Through experience we will estimate the forthcoming years expenditure and input the budget against cost headings recommended by the RICS as best practice. That budget will be available in detail and in summary form and provide a clear apportionment schedule for the tenants.

• Invoicing and collection

  • Once the budget has been approved, the invoices are sent to the occupiers. Ordinarily the service charge is payable at the same time as the rent and the payment are made by the occupiers. The payments are allocated and held within a service charge account and the management software at all times is able to analyse the income and expenditure.

• Ongoing analysis & monitoring & tenant communication

  • On a quarterly basis the service charge budgets are analysed for accuracy. Expenditure is monitored and adjustments made if necessary. Tenant meetings are held annually of more frequently dependent on the type of property and occupiers are kept fully informed of the expenditure vs budget and kept aware of future costs to ensure they can budget accordingly.

• Administration

  • There are a number of administrative procedures that are adhered to, these range for the correct filing of the invoices received and paid to the contractors to monitoring the contractors to ensure they have their up to date documents to enable them to meet our requirements.

• Year end reconciliations

  • Approximately 6 weeks after the year end date the service charge is reconciled. The budget, expenditure and income is analysed and the occupiers and landlords receive certificates and reports to provide a complete breakdown of the year. In the event of an overspend or an underspend, these monies will be accounted for in order to balance the accounts for the start of the new financial year.