MANAGEMENT FEE

Irwell Valley’s Management Fee is a charge made in respect of the full management service it provides to Leaseholders who live in it’s schemes. What the Association can charge for is contained within the contents of the various Leases used.

The fee is broken down into two elements:-

Charges contained within it’s basic element and other additional services that the Association provides outside of the charge.

Management Fee
These items are contained within the basic fee charge to Leaseholders on a monthly basis. These items include:-

1. Monitoring of Management Agent (where appropriate).
2. Collect rents, ground rents and service charges from Leaseholders.
3. Prepare and send out rent/service charge statements at agreed intervals.
4. Instruct Solicitors to collect unpaid Service Charges.
5. Giving court evidence on recovery of unpaid rents or other charges or on compliance with Leasehold covenants and service charge arrangements.
6. Pay for general maintenance out of rents or other fund provided for the purpose.
7. Produce Budget Service Charge accounts, including supplying estimates of maintenance contracts.
8. Produce and circulate Annual Accounts, including supplying information if requested. And providing information to Auditors.
9. Administer Building Insurance.
10. Engage and supervise contractors, such as cleaners, maintenance contractors etc.
11. Manage specific maintenance contracts, such as lifts and water pumps.
12. Site visits to ensure the building/Estate is complying with Health and Safety standards.
13. Inspect building/Estate on a regular basis to deal with minor repairs, fixtures and fittings etc.
14. Prepare specifications, obtain tenders and supervise major works programs.
15. Deal reasonably with Leaseholder enquiries.
16. Keep records of each Leaseholder on file.
17. Keep Leaseholders informed of legal requirements, including Statutory Notices and requirements from public bodies.
18. Advise on day to day management policy.
19. Ensuring Leaseholders comply witht the terms of Lease.

Additional Services
There are a number of additional services, which fall outside the scope of the basic fee. They include :-

1. Preparing Statutory Notices and dealing with consultations where the Landlord and Tenant Act expenditure are to be exceeded.
2. Administration costs in Staircasing Applications.
3. Administration or Marketing Fee in Assignment cases.
4. Approval of sub-letting applications.
5. Approval for changing Mortgage Lender.
6. Copying documents, including Insurance policy and accounts.