Property Management SOE

Question 1

What is a service charge?

Answer 1

Budget of money used to look after and maintain an estate.

Question 2

Why would you carry out a H&S inspection?

Answer 2

It is good practice .
Ensures all areas in the Landlords responsibility are safe.
To be compliant with insurance.

Question 3

What if the tenant did not respond to your request to clear the obstruction?

Answer 3

• Check their leases
• Remove at Landlords cost then Re-charge to that schedule of the Service Charge.

Question 4

Why did you carry out a Tree Survey?

Answer 4

• In line with RICS Guidance (Commercial Property Management in England and Wales)
• Occupiers Liability Acts - ensure visitors are safe (duty of care on visitors and any persons other than visitors.)

Question 5

Why are the tree works not carried out as part of the Landscaping contract?

Answer 5

Trees are outside the scope of the landscaping contract.
Specialist area. Landscapers may not have felling licence etc.

Question 6

You say you ensured sufficient funds were in the service charge budget. What if there weren’t sufficient funds?

Answer 6

• Check the terms of the leases regarding service charges.
• Client to forward fund the recoup at service charge year end.
• Advise of an overspend.

Question 7

Why were the works at Church Hill not part of a regular landscaping contract?

Answer 7

• Reactive prior to the Landscaping contractor being selected from the tenders.

Question 8

How did you establish the extent of the service charge area?

Answer 8

Cross referenced the Landlords Title Plan with the Lease Plans of the Tenancies.

Question 9

Why would you have a Landscape contract?

Answer 9

• Best Practice
• Easier to Budget
• Ensures regular maintenance.

Question 10

What legal documents are required in a vacant property?

Answer 10

• Asbestos Register
• Gas and Electric Certificates
• Insurance Documents

Question 11

How did you calculate management fees?

Answer 11

• reasonable costs and overheads borne in the process of operating and the managing the services.

Question 12

How long do you have to reconcile the service charge and provide the tenants with a report?

Answer 12

4 months

Question 13

What is a planned inspection programme?

Answer 13

• In line with agreed contract of Management
• Management inspection to ensure lease compliance of tenants, health and safety of estate and insurance purposes.

Question 14

What if the tenant does not pay their rent arrears and bailiffs have been unsuccessful?

Answer 14

• RTL
• Rent Deposit
• Guarantor
• Statutory Demand
• Forfeiture

Question 15

What are the primary roles of a property manager?

Answer 15

• Collection of rent, service charge and other sums, and the management of the property.
• Management including, health and safety compliance liaising with occupiers, appointing contractors, lease compliance, advising on arranging insurance

Question 16

What should you do in relation to the procurement of 3rd Party Suppliers?

Answer 16

• Signed contracts
• Clear scope of service
• Lengths of contract
• One month termination notice capabilities
• Approved contractor list
• Accreditations
• Insurance
• Health and safety matters.

Question 17

What are RAMS?

Answer 17

• Risk Assessment and Methods Statements
• Produced following risk assessment by contractors.
• helps manage any planned work and ensure that the necessary precautions have been communicated to all those involved.

Question 18

What is CDM?

Answer 18

• The Construction Design and Management Regulations 2015.
• Aims to improve health and safety in the industry from start to finish.