Hurford Salvi Carr Property Management Ltd

General information

Property Management Maintenance Plan

You will expect us to respond to immediate problems in the building, but you will also expect us to be thinking ahead. We have three key tools to help us maintain your building:

An online Issues Tracker: this enables Property Managers and Directors of Residents Management or Right to Manage Companies to see the status of any building maintenance item at any time of day or night. Access requires a password, so this information is restricted and is not made available to every lessee.
A Property Maintenance Plan: this is prepared by a Building Surveyor and projects forward for 20 years the work that will need to be done. This includes a calculation of what money should be collected annually.
A Reserve Fund: there is nothing worse than an unexpected demand for payment for major expenditure on the building. By collecting a Reserve Fund each year, based on the calculations in the Property Maintenance Plan, you can avoid unpleasant surprises and have the cash in the bank to do work as and when the need arises.
Property Managers focus on four things:

Regular Inspections: Property Managers visit their buildings at least every six weeks, and more often when necessary. They use their iPads to go through Checklists and Health & Safety Inspection Reports and action points are picked up immediately by the Administrators back in the office.
Efficient Back-up: Property Managers work in teams of three, with one office based support Administrator for two Property Managers, one of whom is Team Leader.
One Point of Contact: each building has a dedicated Management Team. Every owner is given a direct line number for the office based Property Administrator, and another for the Property Accountant who can answer service charge queries.
Budget Control: Property Managers set Budgets and approve Expenditure, They can monitor the Balance Sheet and Expenditure against Budget on a daily basis.
Property Management Accounting

Cash Control and easy-to-understand Reports are of prime importance to us:

Accounting Information: fast accounting information is provided to Boards of Directors of RMCs or RTMs and Landlords. Debtors (Service Charge collections) are normally up-to-date by lunchtime each day so that arrears can be monitored on a daily basis. Service Charge Expenditure items are normally approved and entered within about a week of receipt.
Printouts: accounting information can be emailed as Excel spreadsheets or PDF files. HSCPM use standard formats based on the P&L and Balance Sheet formats well-known to accountants and business people.
Expenditure against Budget: where required, we send out to all owners a quarterly schedule of unaudited Budget versus Actual Expenditure (BvA) together with a Balance Sheet. These simple documents allow anyone to monitor all the costs, and see the state of the cash balances. This avoids nasty surprises.
Reserve Funds: HSCPM recommends the preparation of a 20 Year Property Maintenance Plan to justify the annual Reserve Fund collection. This can be prepared by our Chartered Building Surveyors.