Property Management SOE Flashcards
What is a service charge?
Budget of money used to look after and maintain an estate.
Why would you carry out a H&S inspection?
It is good practice .
Ensures all areas in the Landlords responsibility are safe.
To be compliant with insurance.
What if the tenant did not respond to your request to clear the obstruction?
- Check their leases
- Remove at Landlords cost then Re-charge to that schedule of the Service Charge.
Why did you carry out a Tree Survey?
- In line with RICS Guidance (Commercial Property Management in England and Wales)
- Occupiers Liability Acts - ensure visitors are safe (duty of care on visitors and any persons other than visitors.)
Why are the tree works not carried out as part of the Landscaping contract?
Trees are outside the scope of the landscaping contract.
Specialist area. Landscapers may not have felling licence etc.
You say you ensured sufficient funds were in the service charge budget. What if there weren’t sufficient funds?
- Check the terms of the leases regarding service charges.
- Client to forward fund the recoup at service charge year end.
- Advise of an overspend.
Why were the works at Church Hill not part of a regular landscaping contract?
- Reactive prior to the Landscaping contractor being selected from the tenders.
How did you establish the extent of the service charge area?
Cross referenced the Landlords Title Plan with the Lease Plans of the Tenancies.
Why would you have a Landscape contract?
- Best Practice
- Easier to Budget
- Ensures regular maintenance.
What legal documents are required in a vacant property?
- Asbestos Register
- Gas and Electric Certificates
- Insurance Documents
How did you calculate management fees?
- reasonable costs and overheads borne in the process of operating and the managing the services.
How long do you have to reconcile the service charge and provide the tenants with a report?
4 months
