Depending on the regulator of the agent from whom we are taking over the management, all information from the moment Hurford Salvi Carr Property Management are instructed, should come across in a staged manner, which will facilitate the seamless handover and to allow us time to build our own management structure and team.
A typical handover procedure takes 3 months from the time our instructions are confirmed; however, shorter time frames are possible if the information is readily available.
Pre-handover
HSCPM will undertake the following after our appointment is confirmed:
- Introduce your future property manager to the Resident Directors or clients.
- Obtain a copy of every residential lease within the development and undertake a detailed analysis. These lease analyses will ensure we understand all the covenants and idiosyncrasies of the leases and service charge structure.
- Re-build the current financial years data onto our accounting system, including reconciling the cashbook from the figure on the prior year-end accounts to the handover date to ensure all cash is accounted for.
- Working with the RTM Directors to either create or rebuild the PMP and reassess the budget.
- Build a full inventory of property assets.
- If the building has any preferred contractors or contractual commitments our compliance team will check their accreditation and add to our preferred contractors’ database.
At handover
- Introduce the property manager and assistant property manager to the residents and attend a RTM Directors meeting at the earliest opportunity or meet with the client, as appropriate.