OKC Properties Basic Property Management Service Pack

By: Okc Properties  05/12/2011
Keywords: property management, fire alarms

  • Every company is legally required to file audited accounts with the inspector of taxes and the companies registration office and will normally maintain a block insurance policy. These are the two most basic requirements of management companies.
  • There are health and safety requirements i.e. maintenance of common areas, provision of fire alarms, collection of refuse etc.
  • The maintenance of property to a high standard which will ultimately protect the investment.
  • Good clerical administration and record keeping is important in order to fulfill requirements with regard to the filing of annual returns.   Failure to do so can result in company strike off resulting in considerable costs for restoration.
  • As requirements may vary according to size, mix and owner requirements a list of the common services is set out hereunder.

Basic Service Package

- Budget preparation.

- Collection of management company charges.

- Block insurance renewals (adequacy, reinstatement value).

- Common area electricity charges.

- Common area cleaning.

- Maintain bank accounts.

- Preparation of file for auditor.

- File returns with inspector of taxes.

- Maintain file and archive of company records.

- Call AGM and prepare relevant reports.

- Forum for owners to raise matters of mutual concern.

- Fire protection equipment.

- Fire alarm maintenance.

Other Services

- Preparation of house & car park rules with a tenant hand book.

- Key holding service.

- Regular inspection services.

- Security (CCTV Maintenance).

- Lift maintenance.

- Grounds/garden maintenance.

- Waste disposal.

- Advice on apportionment of management charges.

- Advice on the creation of a reserve/sinking fund to allow for future capital expenditure.

Keywords: fire alarms, property management

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