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Local Retail Fund - Property Management
 
Local Retail Fund - Property Management

Local Retail Fund - Property Management

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KPI of 99% collection of quarters rent within 30 days achieved 3 years in a rowDavid Rowling

CHALLENGE

Eddisons KPI is to collect 99% of quarters rent within 30 days of quarter day.

Over the period of 2016 to the present day the portfolio has increased in size from 38 to 58 properties.

The rent roll has increased from £1.162 million to £2.025 million.

 SOLUTION

Full property management of a 58 property portfolio.

Services Include

  • Rent collection
  • Service charge collection
  • Insurance renewal management
  • Insurance claims management
  • Database maintenance and lease event management
  • Managing portfolio insurance renewal
  • Service charge collection
  • Day to day tenant and contractor liaison
  • Service charge management to include budget preparation and service charge reconciliation
  • 24/7 repair reporting helpline and FM provision
  • Void property management and funding requests

Eddisons have a team of surveyors and credit controllers to ensure the rent is collect and enquiries dealt with. Eddisons completed the following;

  • Rent invoices sent to tenants 6 weeks prior to quarter day
  • Rent reminders sent to tenants 1 month prior to quarter day
  • Rent reminders sent to tenants 2 weeks prior to quarter day
  • Quarter day chasing
  • Post quarter chasing

CRAR remedies were used in the most difficult cases.

RESULTS

Effective use of CRAR and committed chasing of arrears has meant that since 2016 Eddisons has achieved 99% collection 30 days post quarter day.

The rent collection has been maintained despite the portfolio doubling in size.

Savings have been made for the client by the surveyors and credit control team working effectively to obtain the rent payments.

Eddisons have also advised the client of potential tenants liable to default and this has given the client time to consider marketing the units in a timely fashion.

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© Eddisons 2019