Lakeside Rise

Lakeside Rise is one of our proudest achievements. We worked really hard with the 250 owners here to free them from eight years of poor service, weak financial accounting, and a landlord that tried to make all the decisions for the development.

The story

Revolution was recommended to one of the many owners who were dissatisfied with the management of Lakeside. And so began 18 months of hard work. As we started to look at the situation it became clear that the leaseholders were in fact being denied their intended rights simply because the shares in the management company had not been issued to the owners as their leases required. A number of First Tier Tribunal cases had also taken place, which had made rulings, but the decisions had not been implemented.

The solution

With our help solicitors were appointed to represent the owners and together we successfully forced the management company to issue the shares the owners were entitled to. Now in control of the majority of the shares, and with our guidance, the owners requested an Annual General Meeting (AGM). This request was completely ignored, despite being the owner’s legal right, and so we moved to the next phase of forcing an AGM without the management company’s permission.

The AGM was successfully held and one of the directors (who also happened to represent the landlord and who’s right to be a director was disputed) attended while the other directors stood down voluntarily once a motion was tabled to remove them. By the end of the AGM the owners were in control and all previous directors were removed.

The owners were now in charge of the management company and were then able to serve notice on the existing agent who had let them down for so many years. And so began a new lease of life for Lakeside – within 6 months of Revolution taking over management of the development its owners reported substantially higher rental values and the resale market was active again for the first time in years.

Success

  • House Service charge reduced by 50%
  • Building insured by landlord, landlord forced to reduce premium by £28k
  • Four tribunal cases resolved without going to tribunal
  • Car park gates now working after a period of 4 years not working with implementation of a clever timer system
  • New LED lighting installed
  • Budgets corrected to match the instruction of the First Tier Tribunal
  • All receptions in the towers repainted and new signage
  • Negotiated with United Utilities to install individual water meters for each apartment
  • Grounds completely transformed by new gardening company
  • New site staff employed to improve service and cleanliness
  • New recycling services installed along with improved bin areas

Summary

We love Lakeside Rise. It's story demonstrates everything that can be achieved by Revolution's commitment to its customers. It shows that working as a team with the same goal of making life better really does work. The key to the successful management of a development like Lakeside is communication and we think this sets us apart from other agents. Lakeside is now the prestigious development that it should have been from day one. Well done Lakeside.

“I personally wanted to have water meters put in my apartments ages ago but the previous agent was abrupt and said no it was not allowed. Thanks to Revolution I now have water meters in my properties. They have done so much to improve the complex”

Rodney Paulden Lakeside (Blackley) Management Company Ltd
Revolution Property Management
 
Call us on: 0161 850 0022

Contact Us

Revolution Property Management Ltd
Deansgate Quay
384a Deansgate
Manchester
M3 4LA

Telephone: 0161 850 0022

©2018 Revolution Property Management Ltd