VFM Property Management

VFM provides expert project management services for major works and repairs obtaining competitive tenders and managing works throughout
As RICS Chartered Surveyors VFM is suitably qualified and experienced to deliver projects on time and within budget meeting clients expectations.

The very nature of property and estate management means that freeholders and property management companies periodically need to carry out major works requiring essential project management services. Major works are typically defined as works of a significantly higher value than day to day repairs and are more involved, often requiring the use of professional advisors.
As your project manager, VFM is well placed to help reduce the inherent project risks and to advise you on the need to employ specialist consultants where necessary.
At VFM we understand the fundamental principals which apply when considering a more involved project. VFM’s project management services help you avoid the many pitfalls which commercially astute contractors might seek to take advantage of.

Efficient and effective project management of larger works is an essential component of any successful contract programme. As a result of its specialist nature the role is likely to be a separate appointment to that of the managing agent. The typical agent duties described under the property management section are intended for smaller, more straightforward operations.

Property Service Charges | Block Management Arrears | Property Accounts
Professionally prepared property service charges accounts, forecast budget and planned financial expenditure are underpinned by transparent financial reporting and controls.

Service charges are calculated and agreed with the freehold landlord or leasehold management company on the basis of an approved budget forecast. The agreed service charge is collected from each leaseholder by issuing individual applications requesting payment in accordance with the lease.

Compliance with statute is necessary requiring that specific service charge notices be served on the leaseholders which must state the tenants’ rights in a prescribed form. It is important to issue the payment demand within the correct time frame taking account of legislation and the dates stipulated in the property lease.

Where ground rent is to be collected for the landlord or developer the same principles apply with payment demands requiring to follow a prescribed format in accordance with statute.

In order to facilitate the property service charge calculations and the proportion to be allocated to each of the flats, it is essential to carefully prepare a projected cost estimate of the likely annual expenditure for the whole estate. An annual budget forecast will be prepared on your behalf for your agreement and approval.

Planned maintenance is an important feature of our block management service giving you access to competent, independent contractors at competitive rates.
We will endeavor to maintain your building and estate in a good state of repair at all times taking account of its general age and overall condition.
VFM also employs service contractors on behalf of the freeholder or developer to carry out regular cleaning, gardening and associated works as may be necessary to maintain the property to a reasonable standard.
A regular review of requirements is essential and we carry out periodic visits to the property assessing its general condition and identifying items for repair or replacement including scheduled planned maintenance. In agreement with the client, we will endeavour to arrange a suitable long term plan underpinned by reserves if permissible under the terms of the lease.
Our procedures include a system of procuring the services of contractors as appropriate dependent on the specific circumstances for each element of proposed works. A system of fair, competitive tendering aims to achieve best value for the freeholder and leaseholders.
Before instigating works, VFM will take reasonable steps to ensure the reported repair is necessary, is not covered by any contract, identifying the type of repair required and responsibility for any cost incurred.
In drawing up an approved contractor list, VFM will select suppliers that are suitable and competent to provide the service to a reasonable standard and in compliance with health and safety legislation.
In accordance with Health and Safety Executive Guidance Notes, contractors must maintain appropriate and current public liability insurance and comply with CDM Regulations and the CIS where applicable.
Where appropriate VFM will check previous works carried out and obtain references.
Prior to commencing any tender process VFM will ensure that there are planned arrangements ensuring that funds can be made available to meet any expenditure and/or interim payments. We will agree the best option under the terms of the lease for raising the necessary funds in full. Once funds are available we will progress any required Section 20 procedures and tender the works accordingly.

VFM property managing agents pre-sale services advises residential property developers on service charge maintenance budget and lease terms for sales packs.
Residential property developers will need to provide pre-sale services information to prospective purchasers. This pack would normally include details of the service charge maintenance budget and the agreed lease terms requiring the involvement of specialist block management advice long before projects near completion.

As professional property managers and Chartered Quantity Surveyors we fully understand your needs as a developer marketing your new block of flats or new build private estate.

Property developers who have residential new build flats and apartments for sale will need to advise prospective purchasers on the maintenance budget for future running costs. Purchasers will want to know the estimated service charge maintenance budget and who the property managing agent will be. Setting these charges accurately is important and will ultimately influence the sale price allowing the developers and their agent to successfully market your property.

Of course as a residential property developer you have a wide choice of property block managing agents however why not choose one that can add value ? Appointing an RICS Chartered professional and Corporate member of ARMA delivers a strong message to prospective purchasers. Not onlyabout the development itself but also about you and your reputation as a developer.

The clear image to your clients and the industry in general should be one of high quality and professional standards and we believe that the choice of agent is a key element in obtaining the best return on your property sales.

The importance of confidence in your product from buyers cannot be overstated and the benefit of quality assurance for new home owners will reflect the standing and brand of the developer and its team.

The pre-sale services we offer to developers which are both flexible and comprehensive include; advising on suitability of specifications and finishes with future management in
mind, the content of the property lease in respect of practical maintenance and repairs, estimating a realistic and affordable service charge budget for circulation with your sales team and potential purchasers. Other specialist specific developer services are available on request. We would also look to assist by shouldering some of the burden of purchaser enquiries regarding possible defects. Effective management of this process requires that we obtain specific details of developer warranties and guarantees giving a clear understanding of responsibilities in this regard.

In conjunction with the conveyancers and solicitors employed to arrange and agree property sales, we can also help advise regarding the lease terms and deal with service charge and maintenance enquiries in respect of the lease.

Right from the start of the sales process, some developers prefer to set up a property management company to be collectively owned and run by the purchasers and leaseholders. We are able to arrange set up and provide an ongoing, comprehensive company secretary service covering all duties and aspects of the company administration including compliance with the company’s Memorandum and Articles of Association.

Company Secretary service and registered office facility for your freehold, RTM or leasehold property management company passing over responsibility to VFM.

Many property management companies find our company secretary services of particular benefit. Duties typically include dealing with all associated company legal requirements, liaison with officers and accountants on the company’s behalf, and filing and completion of the annual Confirmation Statement to Companies House.

As Company Secretary, we would handle all the key duties in dealing with the Company’s books and maintaining these to reflect the composition of the Company’s shareholders or members, Directors and Company Secretary.

Secretary services importantly include monitoring compliance of the company’s activities with the Memorandum and Articles of Association. A Registered Office facility can also be provided whereby company documents will be delivered directly to our offices for safekeeping.

This service lessens the burden on the management company to receive and forward information and also reduces the risk of any items being overlooked or missed.

An important benefit of this facility is that our client directors may use this address to avoid disclosing their personal details, reducing the threat of receiving unsolicited mail or identity theft.

Property health & safety compliance for leasehold and freehold blocks of flats has never been more in the public spotlight as the Grenfell inquiry continues.
The health & safety inquiry into the Grenfell Tower disaster is set to restart in July following publication of the findings of the first phase of the report and summary findings however fire safety is not the only concern in residential leasehold blocks of flats.

In addition to statutory fire regulations, other key health & safety issues for leasehold property are wide reaching and include :

safe working practices for maintenance and trade contractors,
asbestos management,
electrical inspection and testing,
water hygiene management,
safe maintenance of mechanical plant and equipment
removal of trip hazards and the like and
maintenance of safety, preventative and warning systems
It is important that your property managing agent and block management company put in place adequate property health & safety procedures. These include CDM heath and safety compliance, fire risk assessments, regular inspections and statutory building safety systems for residential blocks of flats and estates which all form part of these requirements. Freehold and leasehold property management companies are responsible for ensuring compliance and may be held liable where properties fall short in respect of health and safety legislation.

Dedicated Emergency Helpline | 24 Hours Emergency Service
You can take advantage of your Emergency Helpline as soon as you sign up for our block management services
A dedicated emergency helpline is available to all leaseholders giving out of hours access to a reliable, professionally managed, 24 Hours Emergency Service.
Your Emergency Helpline provides a guaranteed answering service covering urgent out of hours call outs : Why risk phoning round trying to call out unknown tradesmen in the middle of the night ?

Discover more when you sign up to our managing agent services.

There is a strong demand for a professionally managed, out of hours contact facility. One which guarantees you access to bona fide tradesman to attend emergencies at any time of the day or night. VFM’s Helpline provides you and all of the leaseholders, residents and registered tenants at your property with your own dedicated service.
A facility to answer all of your emergency out of hours calls during weekdays from close of business, until first thing next morning. You also receive the full benefit of twenty four hour cover throughout weekends and bank holidays whatever the time of year.

Your 24 hour emergency service provides you with an instant response for all genuine out of hours emergencies from the agreed commencement date. Helpline’s central point of contact ensures that as far as possible, preferred contractors (i.e. those suppliers or contractors who know the building) will be contacted to deal with your emergency. Fast, effective, urgent repairs can therefore be arranged through the helpline, with the costs incurred taken care of through the service charge account.
Costs for works carried out which may be subsequently found to be the responsibility of leaseholders will be recovered directly from leaseholders or others as necessary.

VFM property block management can arrange your freehold and leasehold building insurance policy,engineering property insurance and directors liability cover.
An important part of our managing agent duties involves procuring buildings insurance on behalf of the freeholder, leaseholders or property management company. In conjunction with specialist insurance brokers we will obtain quotations from suitable suppliers for your consideration and approval.

Adequate buildings cover must be maintained in accordance with the terms of the lease and the requirements of the leaseholders and freeholder. Once agreed we will instruct insurers accordingly on your behalf.

Where freehold or leasehold management companies manage the estate, specialist directors’ and officers’ liability cover is often required which we will be pleased to arrange on your behalf.

It is also imperative that the insurance cover provided by each of the contractors and suppliers working on the property provides adequate cover. Any supplier proposing to provide works or services on your property or estate is required to produce certificates demonstrating the level of cover that they hold before being employed on behalf of the management company. Checks will cover both indemnity value as well as scope.
Under an arrangement with the Financial Conduct Authority (FCA) the RICS is a designated professional body (DPB). As a DPB member, VFM can carry out insurance mediation activity which is broadly advising on, selling, and administration of insurance contracts. We are therefore suitably qualified to arrange buildings and other insurances for properties, freeholds and management companies on behalf of our clients.

Property management companies need specialist, tailored advice when it comes to managing blocks of flats

Many property management companies which are responsible for the maintenance and safe running of their blocks of flats are run and managed by volunteer directors and leaseholders. Often these volunteers have never received formal training and may not have any particular expertise in the complex world of property.
For this reason the professional advice we offer to your property management company requires to be explained in a suitable manner taking account of the expertise of the
directors, freeholders and leaseholders concerned.

Whether your property management company owns the freehold of your block of flats or apartments or is a leasehold management company, the same principals apply. Many leasehold management companies include residents management associations and ever increasingly the new breed of RTM company. Alternatively the estate management company may have been given its standing by virtue of being a party named in the property lease with duties and responsibilities described therein.

Whatever the nature of your requirements, our services to your property company need to take account of your specific needs including those of all freeholders, leaseholders and residents. This requires a flexible approach recognising the background of the individuals involved, the management structure of your organisation and the leaseholders concerned. There will undoubtedly be strengths and weaknesses relating to the expertise and experience available and at VFM, we see it as our responsibility to understand and pro-actively ensure that you receive the management input you require.The board of directors of your property management company can then proceed safely in the knowledge that you are receiving the correct professional advice from an established block managing agent, Regulated by RICS, corporate member of ARMA and The Property Ombudsman.