Any building cannot function without money. We all know this but your property management company should try to make your life as easy as possible to allow easy household budgeting for service charge collection.
We allow monthly payments of service charge collection.
Everyone is offered a monthly payment plan for service charge regardless of the lease stipulation. We’ve found this to be the easiest route to stopping customers falling into arrears. We also allow payments to be made online, by standing order and some sites by direct debit. In this modern world the only thing we can’t accept is cash.
Often when we take over new buildings they come to us with an awful debt position. This can be because the existing owners have stopped paying the previous agent due to reasons of service performance or standards. We then have to work with all the leaseholders to ensure these arrears are collected for the building’s benefit. A takeover process ensures this is completed in conjunction with the building directors’ permission and the history of the site. We work with everyone on their particular problems to get the building financially secure.