We started managing Leasehold properties back in 1996 and have extensive experience in this field working closely with Freeholders and Residents Associations.
Our aim is to make the whole management process as seamless as possible whilst giving a tailored service to suit our client’s needs.
- Manage client monies in a separate, designated ‘Clients Account’
- Produce and manage an annual maintenance programme.
- Draft an annual budget based on the maintenance programme for Directors to approve at the annual budget meeting. (Long term maintenance needs will also be assessed and appropriate funds recommended to be put into Reserve Funds).
- Issue letters to all Leaseholders with the Service Charge (and Ground Rent) request(s) along with a copy of the approved budget and any supporting documentation.
- Issue subsequent Service Charge requests in line with the lease.
- Manage receipt of funds to ensure Service Charges are received in a timely manner and take appropriate action in accordance with the lease for any that are not received.
- Undertake quarterly visits to assess any unforeseen maintenance needs and check the quality of regular contracts.
- Organise the Annual General Meeting, present an annual report to the members and take minutes to be distributed following the meeting.
- Ensure compliance with the terms of the lease and policy agreed with the board of Directors and where necessary, subject to landlord authorisation, instruct solicitors in relation to any breaches.
- Organise renewal of the annual buildings insurance.
- Review and manage ongoing contracts including communal gardening, window cleaning, general cleaning etc.
- Keep accurate accounts in line with RICS code of practice, prepare draft accounts for the accountants along with supporting documentation e.g. invoices, bank statements etc.
- Undertake risk management with appropriate support including fire, asbestos and health and safety compliance.
Holding Deposit (per tenancy)
One weeks rent. This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right- to-Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).
Security Deposit (per tenancy. Rent under £50,000 per year)
Five weeks' rent.
This covers damages or defaults on the part of the tenant during the tenancy.
Security Deposit (per tenancy. Rent of £50,000 or over per year)
Six weeks' rent.
This covers damages or defaults on the part of the tenant during the tenancy.
Unpaid Rent
Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.
Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc VAT) for the time taken replacing lost key(s) or other security device(s).
Variation of Contract (Tenant's Request)
£50 (inc VAT) per agreed variation. To cover the costs associated with taking landlord's instructions as well as the preparation and execution of new legal documents.
Change of Sharer (Tenant's Request)
£50 (inc VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord's instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.
Early Termination (Tenant's Request)
Should the tenant wish to leave their contract early, they shall be liable to the landlord's costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.
Tenant Protection
LD Property Management is a member of Propertymark in our Fareham branch and Safeagent in the Salisbury branch, which is a Client Money Protection scheme, and also a member of The Property Ombudsman, which is a redress scheme. You can find out more details on the agent's website or by contacting the agent directly.