The smooth-running of your property depends on savvy fund management and careful budgeting.
Although your lease probably already sets out when major works will need to be undertaken, it is really important to ensure there is a Reserve Fund set aside to pay for this when the time comes. Nobody wants to be stung with a big bill unexpectedly.
At PBM, we take care of budgeting and cash flow for you. We bring together the right people to cost up and agree the long-term maintenance plan for your property.
Then, we’ll manage the funds accordingly, ensuring there are never any surcharges or miscellaneous ‘fees’ added to the cost of major works – because that’s just not cricket!
We work with Chartered Building Surveyors to identify major works and other large-scale expenses that need to be budgeted for. Our standard practice is to arrange a 10-year capital expenditure plan.
We consult widely with residents, to make sure everyone is in the loop before any financial commitments are made and they can see why reserves are being collected.
We offer flexible and easy access to your budget reports and provide regular updates on how the budget is performing against actual spending. For example, our quarterly newsletters to flat owners feature a straightforward Budget vs Actual bar chart.
You’ll receive an annual Statement of Accounts, to ensure full compliance with legal obligations under the Landlord and Tenant Act 1985/87.
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