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The key to providing a comprehensive management service for your development is attention to detail. This is best achieved by putting ourselves in your shoes. We manage your development as if we lived there and we address the problems and challenges accordingly.
We start with a clean sheet of paper when creating budgets for the year. The first step is to create what we call the operational budget. This is the budget for the general day-to-day items, like electricity, cleaning, gardening etc.
Looking at the contracts you have in place and the expenditure you can expect within the year, we create a budget which you can rely on

Maintenance schedule
With the operational budget for the year ahead set, we move on to the reserve fund budget. Before we can do this, we need to create a the periodic maintenance schedule.
We create a schedule of works that need to be undertaken over a 10 year basis and further, into the future. We look at items like decorating the internal and external parts of buildings, major servicing on lifts, pumps, air conditioners and swimming pools along with the replacement of items like gym equipment. We also add additional funds as a contingency against unexpected events not covered by insurance.

Reserve funds
WIth a maintenance schedule we are now able to determine how much is required over a 10 year period. We are then able to forecast how much is required each year. Of course at this time we have to take things like cashflow and inflation into account.

Service charges
With solid budgets for Operational and Maintenance expenditure we are now able to determine the service charge budget.
We produce a budget estimation. We discuss this with the management committee or directors and agree what will be used for the year ahead. This is then communicated to the owners and leasees.
We prepare regular bills and send them to the owners and leasees. Our customer database is kept up-to-date with the postal and Email addresses for billing in order to make sure they are received promptly.

We receive payments from your customers and ensure they are paid into your account. We monitor all individual customer payments in order to keep an accurate account balances. Our computer system ensures that the client balance is on the screen whenever we speak to your client, this allows us to discuss any payment issues each time we speak to them. We also have rigorous procedures for chasing any bad debt. We have found these to be effective in recovering funds for many of our clients.

There are a number of statutory requirements when it comes to recording the accounts. We will manage this on your behalf and ensure that deadlines are met for completing and filing your accounts with the relevant authorities. We also prepare the statement of expenditure to enable any overspend/ underspend to be communicated to your customers.

As part of our standard finance service, we prepare the accounts for distribution to your customers as part of the Annual General Meeting. We also provide ad-hoc financial reporting to support other needs as they arise.

Health and safety
We manage the requirement for you to have health and safety assessments, policies and procedures in place. We audit them periodically and make sure any issues or recommendations are acted upon promptly.

We ensure that the legal requirements of the development are met. These can extend into health and safety, fire, insurance, financial etc. We closely monitor the changing laws and regulations to ensure that you are kept up-to-date with your obligations. We manage these to ensure that any requirements are met in a timely manner.

RICS Service Charge Residential Management Code

All parts of the management code are included in the Quay Croft Complete service. The main parts of the code are as follows:

Part 4

Part 6

Part 7

Part 8

Part 9

Part 10

Part 11

Part 12

Part 13

Part 14

Part 15

Part 21
Accounting for other peoples money

Service charges, Ground Rent and Admin charges: Information and Demands


Budgeting / Estimating

Reserve Funds

Accounting for Service Charges

Audit of service charge accounts



Works to extend / develop


Arrears of service charges
The sections listed are directly applicable to the Quay Croft Complete service. However there are many other sections which detail the general behaviour of the agent, rights of tenants etc. These sections are also applied in the service.
Quay Croft Estates Ltd, 29th Floor, One Canada Square, Canary Wharf, London. E14 5DY | Telephone 020 3287 9287
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