"Hurford Salvi Carr Property Management took over management of our building, and the first thing they did was to sort out the service charge accounts. Previously we had little information, and we worried that cash had gone missing. Now we get regular reports and Balance Sheets emailed to us, the Property Manager brings it all on a laptop to Board Meetings, and we have confidence that our money is being looked after properly."
Director, Residents Management Company, London SE1
Service Charge Accounts Administrator
Responsible for a portfolio of service charge accounts, which includes issuing service charge demands, dealing with lessee queries, ground rent collection, supplier payments, balancing charges, banking and monitoring cash flow. Read more...
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The long awaited Third Edition of the RICS Code of Conduct for Residential Management has now been approved by the Secretary of State and is effective from 1 June 2016. It applies only to residential leasehold properties in England, and the RICS summarises the aims of the Code as being to:
Hurford Salvi Carr have been producing excellent Research Papers for years, and these are available from their website http://www.hurford-salvi-carr.co.uk/research. The latest edition notes that the Central London market has seen its first drop in pricing since 2008, and this was not solely due to Brexit.
'The UK’s taxation policy played a large part in the decline in demand in the first half of 2016 and that is not going to change in the near future.'
After the promise of an updated edition to the Code for a number of years, following consultation with property professionals including the Association of the Residential Managing Agents (ARMA) of which HSCPM are a Member, this was approved by the Secretary of State, effective from 1st June 2016. This applies to residential properties in England.
The code endorses best practice in respect of leasehold property management. It’s not just intended to be read by Managing Agents, but Landlords, Leaseholders and occupiers of leasehold property as well.