Accounts and Administration

Resident Management Companies and RTM Companies often need to gain greater control of the management of their buildings. Indeed it is commonplace for many RMC directors to choose to manage the estate themselves instead of employing a managing agent.

Whilst giving greater control, this can expose directors to liabilities in the forms of notices, invoices and formal consultation procedures that they need to adhere to. It also removes the hassle of invoicing neighbours for service charge payment and chasing them for outstanding money, which can be difficult.

Marlborough House Management specialises in supporting directors of Resident Management Companies and helps navigate through legislative and socially-awkward business practice and responsibilities.

Our comprehensive administration service includes:

  • Issue of annual service charge estimates to all leaseholders or owners
  • Invoicing, administration and collection of all service charges from residents
  • Advice and support to the management company/landlord when there are property owners who fail to pay their service charge and a credit control process is required to collect outstanding debts
  • Provision of a range of service charge payment options for residents
  • Payment of all contractors and services relevant to the property or estate
  • Prompt deposit of payments into a bank account protected by the constraints of the Trustee Investment Acts
  • Preparation of initial and subsequent annual service charge estimates
  • Preparation of scheme account information, agreeing results with directors, passing to auditors and dealing with subsequent queries that might arise
  • Ensuring that the reserve fund is properly administered
  • Preparation of specifications and supervision of building works
  • Dealing with enquiries and applications on assignments and licences etc. (These fees are recoverable from applicants.)
  • Preparation and service of schedules of dilapidation
  • Preparation of building insurance and other valuations
  • Dealing with non-routine matters arising under the terms of the Landlord and Tenant Act 1985 and 1987, the Housing Act 1996 and the Commonhold and Leasehold Reform Act 2002
  • Preparation of documents and administrative work in connection with court appearances
  • Appearance in court as a witness in respect of service charge arrears and/or other breaches of the lease
  • Preparation of documentation and information and attendance at a Leasehold Valuation Tribunal (LVT)
  • Involvement in litigation
  • Instructing and liaising with surveyors or other professional consultants in respect of refurbishments, renewals, repairs of plant, buildings and equipment
  • In addition to these services, we can also prepare detailed accounts for the company’s year-end accounting date, in readiness for certification/audit by an independent chartered accountant.

Removes the hassle of invoicing neighbours for service charge payment and chasing them for outstanding money