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residential apartment block

We don’t just say it, we’ve done it...

residential apartment block

estate management of a residential apartment block

the brief 

We took over the management of a small building in Coleshill in 2009.  The residents had exercised their RTM (Right to Manage), as they were very unhappy with the maintenance costs of their development and also the lack of transparency with expenditure.  The main area of concern was over the replacement of the roof, whereby the previous agent gained three quotes for the replacement in excess of £40,000.

what we did

The “Mansard” configuration roof was leaking all over. We immediately made temporary repairs to the roof so that the building was watertight, so that we could properly understand and diagnose what was required to effectively repair the roof.  We commissioned a report and gained quotations based on the findings. We managed to reduce the roof repairs from the original £40,000 quote to £18,000, by fully understanding the problem and allowing sufficient time to research the solution as opposed to a ‘knee-jerk’ reaction to find a quick fix. The temporary repairs allowed us to give the residents 12 months to arrange the additional funds required to complete the project.

saving money on contracts

Electricity costs can vary tremendously not only between suppliers but even between operators in a call centre.  Negotiating good rates for management companies is notoriously difficult as they are not trading companies and therefore do not have a credit history.  Centrick Property uses a utility broker to search the market for the best rates possible.  All rates are reviewed annually so that we ensure the best rates are always maintained for each development.

saving money on fees

We offer some of the most competitive fees on the market.  We review our fees annually with our clients but do not insist on a fixed uplift each year. The annual review looks at a number of factors, primarily an estimate on the amount of work involved at the development in a given year.  By having fixed uplifts in fees we believe agents price themselves out of a competitive market.  Clearly fees need to increase when required, however, this needs to be in a controlled manner and within the context of the property.

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