Regency Estate Management vows to provide all clients with a reliable and affordable option. From major works to legal guidance, we assist our clients by providing a number of different services.
The following provides a brief insight into our working practices and attributes:
We carry out regular site inspections.
Legal and Regulatory
Legislative changes are monitored (and communicated appropriately) and new processes introduced and existing procedures updated accordingly.
Association Directors decide whether existing contractors are retained or new contractors employed. Where new contractors are required, usually three contractors are invited to tender. These may be the Directors' or Regency's preferred suppliers.
We instruct appropriate contractors once we have obtained authorisation from a Director.
We will serve Section 20 Notices when required.
We will issue the Invitation to Tender to at least three reputable companies and through a detailed specification ensure that bids are compared 'like for like'. The Residents' Directors decide which company to use although we can advise.
We will ensure that the contractors comply with current relevant legislation and that local authority planning approval has been obtained where required. We will recommend employing a surveyor where appropriate. We will provide contracts as required and ascertain licenses from the relevant organisations when needed. Time and cost schedules are monitored and controlled using structured project management techniques. Specified works are inspected for quality and completeness at each predefined milestone.
Our management fee is 10% of the contract value.
We will produce a budget for the Directors approval and can provide advice on how budgets should be allocated.
Once approved, the budget will be monitored to ensure that expenditure remains within budget.
Service charges are collected to ensure the Estate's finances are maintained regularly. We will issue service charge reminders to non-paying owners. In the event of non-payment, we will employ a solicitor to recover the debt. (The legal costs incurred are paid for by the debtor.)
All client monies are held in their own bank account. Reserves are held in interest-bearing accounts. Copies of bank statements are available to Directors on request by email.
Buildings and Common Area Insurance
Where the management companies are able to select insurers, existing Insurance policies are reviewed and an alternative quotation sought to ensure a competitive and appropriate price.
We will issue insurance claim forms and provide advice in relation to insurance claims.
We will carry out the standard Company Secretarial duties such as maintaining Company records, dealing with Solicitors enquiries relating to change of ownership, issuing new Share and Membership Certificates, recording changes of ownership and dealing with Inland Revenue and Companies House Returns.
Annual General Meetings
If requested, we are happy to act as the Chairperson and arrange for the minutes to be recorded, documented and distributed.