Service Charge Accounts and Certification
Kirk Rice has a substantial portfolio of property management companies. These companies are typically owned by the lessees of blocks of flats as a vehicle for the purpose of collecting service charges from each tenant. These funds are then expended on general maintenance of the common areas and grounds of the flats in addition to accumulating a sinking fund for bigger structural projects.
Our aim is to assist property management agencies, chartered surveyors and property owners to meet their service charge obligations and obtain certification, by providing a flexible, value for money service. We also try to work with the managing agents and property managers, making them more efficient and the whole process cheaper. We have considerable expertise and many years experience in this field.
We are happy to agree fees and time scales for the completion of work in advance and are willing to have an initial meeting free of charge.
Our services include:
-
External service charge certification and audit
- Reviewing service charge accounts for compliance with S.21 LTA 1985 & RICS Management code
- Ensuring recoverable and non recoverable expenses are correctly allocated within the terms of the lease
- Providing handover reconciliation's on change of managing agents
- Year end adjustments and journal postings
- Attending AGM’s and meetings with landlords and managing agents
- Annual Compliance Reports for RICS and ARMA for managing agents
- Preparation of statutory accounts for residents management companies
- Dealing with usual Corporation Tax and Income tax affairs of companies and trusts
