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.

Description

Property Solutions was initially instructed in 2005 on a portfolio of 320 leasehold properties. This was rolled out nationally to 630 properties with service charges payable in excess of £13m per annum. Our remit was to provide effective administration and control of service charge liability and where possible, achieve value for money savings.

Process

The Administration process involved analysis of 5,500 documents every year on the client’s behalf, requiring a turnaround of 5 days per document. In-house specialists assessed each document in detail and identified locations where service charges required investigation. They worked closely with our Consultancy service team to address any areas of concern and achieve cost savings for the client.

This process saved the client approximately 2,200 hours of administration time each year before considering the issues which required further attention. The benefit to the clients who use an Administrative service is to create more time for their staff to concentrate on key strategic issues, through access to our integrated team of specialists.

Results

Since 2005 service charge savings have been achieved through consultancy exceeding £3.5m. Whilst some of these savings relate to major cyclical expenditure it can be estimated that the administration process suppresses the underlying service charge by 2% - 3% with further recurring annual benefits.