Portfolio Services
Providing clients with management processes to minimise service charge payments, identify high charges and manage costs
Certification
Property Solutions undertook the invoicing and collection of service charges for our client, and currently collect in excess of £5m pa from over two hundred tenants.
Administration
Property Solutions administer a portfolio of 630 properties, saving our client 2,200 hours of administration time each year. Since 2005 we have saved our client £3.5m through work being referred to our Consultancy team.
Consultancy Services
Forensic services identifying the reasons for high costs then taking action to achieve value for money and service charge savings
Refurbishment and Replacement of Central Plant
The landlord budgeted for major works on the central plant, distribution services and common parts. We determined the scale of proposed works was inappropriate and our revised plan reduced our client’s service charge liability by in excess of £750k.
Refurbishment of Common Parts
The landlord proposed refurbishment of the common parts at a total cost of £2.3m. We quantified what the costs would have been for a reasonable refurbishment and agreed a saving of £430k for our clients.
M&E and Refurbishment
The landlord proposed repair and replacement of most of the common parts of the building. We took a pragmatic approach to the implementation of the Disability Discrimination act and saved our clients £1.5m.
Air Conditioning
The landlord proposed air conditioning works based on economic life. We proved that the system could operate beyond the balance of our client’s leases and the revised work saved our client £2.55m.
Poorly managed services
Poor management meant that our clients owed the landlord £630K in arrears. Property Solutions' in-house experts assessed these costs and significantly reduced our clients' liability.
Documentation
The landlord produced service charge budgets that contained unrecoverable and unreasonably high costs. We were able to negotiate an extension to our client’s cap with a potential saving of £1.7m.
Apportionment by Rateable Value
Our client’s service charge was being unfairly apportioned by rateable value. We reduced our client’s service charge liability by £500k.
