Finance & Administration With Andrew Louis
Each year we close the company's books and start a fresh service charge year, duly invoicing the property owners and following up on due payment of the service charges and ground rent.
Budgeting, Cashflow & Forecasting
Andrew Louis will assess the services needed to keep the block well maintained and up to the desired standard, taking into account the need to provision for future reserves coupled with any other information provided by the client we will draw up the budget for discussions and approval.
Preparation of Service Charge
When the annual budget has been agreed, it will be sent to all lessees showing the breakdown of their yearly service charge and pro rata proportions where applicable. Andrew Louis will monitor the costs and accuracy of the budget then realistically amend on an ongoing basis.
Collection of Service Charge
The service charge demands will be issued as per the lease terms wherever possible one month before the due date and subsequent reminders issued to encourage prompt payment.
The money collected in the service charge account is used for the everyday expenditure of running the property
At year end our dedicated accounts team finalise the service charge account and close the year off and collate and prepare all relevant accounts information for expenditure and income, including all allocations, and send all information through to the nominated accountants.
Andrew Louis offer quick and efficient handling of your funds including:- daily processing of all financial transactions, payment of service agreements, contractors' invoices and other accounts approved by you, payment of staff and maintenance of payroll records and preparation of regular detailed financial reports
Company Secretarial Duties
We employ experienced staff to carry out company secretarial administrative duties which include:-
- Issuing of share certificates
- Maintaining statutory books
- Attending Board/AGM meetings
- Issuing relevant notice
- Submitting annual returns
- Minuting meetings
Arrange and pay annual buildings insurance and Directors and Officers insurance for the Property and directors respectively.
We will facilitate any insurance claim regarding the common parts of the property with the insurance company and contractors as required.
Ground Rent Collection
Andrew Louis will act on behalf of the freeholder and collect the appropriate ground rent charge payable to the freeholder by the leaseholder for having their flat or dwelling on the freeholder's land and duly remit it to the freeholder along with ground rent statements.
As well as general lease term monitoring, Andrew Louis will:
- Assist clients with lease interpretation
- Run sub-letting registers (where the leases allow)
- Keep pet licence registers
- Assist solicitors with deeds of variation
- Provide licences for alteration
- Take necessary action against tenants in breach of their lease terms