Confident in your Service Charge?
At 420 Block Management Services, we specialise in performing a thorough examination of your financial accounts to ensure that you are receiving value for money through your service charge, whilst also screening for while also identifying instances where funds may have been misspent, works cannot be evidenced by your Managing Agent, or there is a lack of transparency in your service charge budget
Our comprehensive review process ensures transparency and accountability in the management of your block’s finances, and can help to recover funds that may have been misspent by your Managing Agent.
We also offer advice on obtaining the freehold of your building (a process known as ‘Collective Enfranchisement’), if you wish to move away from your existing leasehold agreement.
Our Services
Our service is designed to evaluate whether your service charge is being spent efficiently by your Managing Agent, and whether you are receiving value for money. If we identify any potential red flags, we will highlight these for you in a comprehensive report.
You can choose whether to act upon our insights yourself, or instruct us to engage with your Managing Agent to resolve any of the issues that we have identified.
-
We will perform a thorough review of your most recent financial accounts (and your historic financial accounts if requested) and provide you with a comprehensive report with our list of “red flags”, highlighting instances where funds may have been misspent by your Managing Agent or where you may have been overcharged, together with any other observations that are worth investigating.
Our fee is £495 for this service.
-
Our Advanced Service builds upon our Standard Service by taking one step further and reviewing all invoices, Statements of Work, and other supporting evidence to determine whether the funds spent by your Managing Agent can be backed up by evidence. If there are scenarios where evidence is missing, this could mean that you have been charged for a service that has not been provided.
Our fee is 5% of your annual service charge. (For example, if your annual service charge is £20,000, our fee is £1,000).
-
Having had experience dealing with onerous leasehold agreements, where the ground rent increases exponentially, the service charge is out of your control, and the number of years left on your lease diminishes, we can provide you with advice and guidance on how to improve your leasehold situation, either through the establishment of a Right to Manage company, or through the purchase of the freehold of your building, a process known as Collective Enfranchisement.
Who are we?
420 Block Management Services is run by Marcus and Alex, two neighbours and friends who have lived in a block of apartments that have suffered from poor management, inefficient spending and unclear service charge budgeting over the years; many of the red flags that we aim to help you with.
We have been able to successfully recover thousands of pounds for our block and fellow leaseholders, which has allowed us to gain a huge amount of experience in knowing what to look for and how to deal with Managing Agents.
Together, we also have previous experience in audit, accountancy, forensics, investigations and claims, putting us in a unique position to be able to help you with your leasehold and service charge challenges.
We would have welcomed help from 420 - now you can.
Contact Us!
Interested in working together? Fill out some info or email us below and we will be in touch shortly.
We are more than happy to have a free, no obligation chat with you to understand your needs, and to see if we can help.
Thank you for taking the time to see what we can offer, and we hope to speak with you soon.
Marcus & Alex
————————————
Office@420BMS.com