Find us at our Office:
 
Fowler & Spenceley 
Property Management
5 Market Square Chambers
4 West Street
Rochford
Essex, SS4 1AL
 
Tel:     01702 808287
 
 
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Residential Portfolio Management

FSPM have considerable experience in the management of residential property portfolios of any size and geographical location, providing landlords with a single point of contact for the management of their portfolio, whatever its size.
 
The obligations placed upon residential landlords are wide ranging and will include those to address repairs to the property, comply with statute requiring the provision of proper sanitation, running water and the certification of gas and electrical equipment.  Breaches of the latter obligations can result in criminal prosecution.
The core management services FSPM offers to residential landlords include:
Collection of rent and other monies due, remitting all monies collected to the client less any agreed commissions or disbursements and providing a monthly statement detailing all income and expendture.
administration of Rent and Damage deposits – collected from the tenant and, acting as stakeholder, placed on deposit in a designated account.  The deposit will be registered with an approved body.
Routine repairs – FSPM will identify and can arrange all routine repairs necessary for the proper maintenance of the property.  Where the cost of individual repairs does not exceed an agreed limit this will be without prior reference to the client. All repairs in excess of this limit (except in the case of an emergency) would be referred to the client for prior approval.  Where required and appropriate multiple estimates can be obtained from reputable contractors, or the client's own preferred contractor can be instructed.
Compliance with Legislation – FSPM will ensure compliance with The Gas Safety (Installation & Use) Regulations 1998, Electrical Equipment (Safety) Regulations 1994 or such amendments or other relevant legislation relating to the safety of equipment and/or services at the property. The necessary inspections and certification will be arranged via accredited contractors.
Credit control – FSPM will take all reasonable steps to ensure rent and other monies are collected.  Where appropriate it will seek to agree repayment plans with Tenants for the settlement of arrears or, where necessary and in consultation with the client, take the appropriate recovery action.
Lettings administration – Where required FSPM will market vacant property via the internet and, where it is appropriate to do so, will instruct an agent local to the property to market by traditional means.  FSPM retains responsibility for credit referencing the tenant and preparing the final tenancy agreement, thus ensuring a consistency of approach across a portfolio.
Inventory and Check out – At the commencement of any new letting it is recommended that an inventory be prepared, outlining the general condition of the property and identifying all landlord fixtures, fittings and appliances.    Similarly at the end of the tenancy an inspection should be made against the inventory to identify any deductions to be made from the tenant’s deposit.  FSPM is able to arrange these services on behalf of its clients via a network of local, regional and national agents and specialist providers.
Property inspections – FSPM will ensure that each property is periodically inspected and a pro-forma inspection report completed.  Any items of disrepair will be dealt with as soon as practicable and in accordance with the practices outlined above. 
Payment of outgoings – FSPM will make payment of client outgoings, including for example maintenance costs, utility charges, insurance premiums and ground rents payable in relation to the property.  Such payments are usually made from rents received or from a retained “float”.  Where there are insufficient funds available then additional client funding may be sought.  Monthly accounts will be provided identifying all income and expenditure incurred.
Major repair work/refurbishment – where a property requires major repairs/refurbishment FSPM can
        
- Arrange for an appropriately qualified individual to prepare a detailed specification of works and appropriate contract documentation. 
 
- Depending upon the complexity of the work will either obtain competitive quotations or undertake a formal tender for the work
 
- Provide project management services, again having regard to the nature and complexity of the work, including full compliance with CDM Regulations

 
 

 
 

 
 

 
 

 
 
Fowler & Spenceley Property Management is a trading name of Prittlewell Consulting Ltd Company Registration No. 08225583 
Registered Office 16 - 18 West Street, Rochford, Essex, SS4 1AJ
A Firm of Chartered Surveyors.  Regulated by RICS