Our early involvement in a new scheme can help shape the on-going management structure, anticipate future issues, enhance the sales process and ensure a smooth handover through all phases of the project. We understand that residential property development is a complex activity and requires specialist skills of regulatory, legal and financial issues. We pride ourselves on working in partnership with developers to provide advice and support throughout all stages of the project.
We currently work with a number of major developers. We are proud of our association with these companies and have retained management of their developments from construction to decades after. We work closely with their aftercare teams and then with resident directors, new freeholders and resident associations.
How our team works with you…
We have a dedicated team ready to take over the management of each new development. This team consists of a Director of Ian Gibbs Estate Management, a property manager, an assistant and accounts executive working to ensure the smooth transition to site handover and full management. We ensure that the financial processes contained within the lease or transfer document are properly adhered to. We take on responsibility for monitoring and reporting on all aspects of service charge income and expenditure for each development under our management. We engage independent auditors to work with our accounts executive to produce the first set of accounts for the development and accurately calculate the developer’s void contribution.
Frequently asked questions…
Do you have experience in dealing with communal hot water and power systems?
Ian Gibbs Estate Management has managed one of the first true CHP systems in the UK since its construction. We manage the maintenance, metering and billing administration of gas boiler, biomass boiler and CHP systems on multiple sites. We have good experience in the required lease covenants to ensure the successful billing and maintenance of these systems and the demised heat interface units within each property. In short, we have been closely involved in the management of these systems since the introduction of the planning regulations that have ensured their existence. We therefore know the pitfalls and complexities and have pioneered billings systems to ensure any service charge arrears are limited and collection of arrears can be successfully enforced.
How are the service charges calculated?
Service charge budgets must include all likely costs associated with the running of the communal areas, services and facilities of a development on a day to day basis and comply with the terms of the lease. Failure to make an accurate provision will result in insufficient funds with which to meet expenditure and can be seen as misrepresentation by lessees. The basis of calculation and apportionment must be fair, reasonable and transparent. The last thing that you want as a developer/landlord is to have service charge costs challenged at tribunal or elsewhere. This is a drain on time and resources and at Ian Gibbs Estate Management, we work to ensure that this will not happen.
How do we decide which managing agent to use?
There are many estate management firms from which to choose. At Ian Gibbs Estate Management, we have over 30 years’ experience in the preparation and management of all types of development. We are registered and affiliated with all industry bodies (RICS, ARMA and ARHM) so as to ensure your peace of mind. We can deliver a comprehensive management with customer contact and service as our priority. Most of our managements are for Residential Management Companies and we enjoy working within this structure. We are fully transparent as regards how service charge and contingency funds are administered. We are happy to work voluntarily with Residents’ Associations and Committees. Overall, the leasehold tenure of property has its pitfalls. We aim to work within this structure in the best interests of all parties.
How long is your management contract?
A management contract is no longer than one year in order to comply with current legislation. Please contact us to receive a copy of our standard contract.
When should a managing agent be involved?
The earlier the better and preferably at the start of the project. The involvement of managing agents at the start, as with solicitors, the sales team, architects and other professionals, can help reduce complexity and ensure key details/considerations are captured and dealt with early on. At Ian Gibbs Estate Management we have a wealth of experience of the management new and mixed tenure developments and can offer advice and support throughout all phases of the project. This can save money, result in a better experience for properties owners and mean less work for after care departments.
Will the managing agent produce a service charge budget without a fee?
Yes, if we are to be considered as the future managing agent. However, we also offer a consultancy service where a fee is agreed prior to the start of the project whereby we can assess architectural plans and installed plant and equipment in order to propose a budget and legal/administrative service charge structure. Having such a professional structure in place will assist your sales team in their marketing of the development.
If you would like to discuss the management of your residential block, please email us at firstname.lastname@example.org or call us on 020 8370 4810. We look forward to hearing from you.