Service charge budgets
JP Edifice Sdn. Bhd. manage the building’s accounts on behalf of the clients through the service charge budget. This budget is estimated annually and residents pay their apportionment into the account based on the terms of their charges. Service charges will be demanded one week before the due date and followed up two weeks after the due date by a reminder.
A dedicated client account will be opened into which all service charges will be deposited and from which all payments for the projects will be made. Contributions to the reserve fund are dealt with in a similar manner.
All cost estimates are provided on the basis of one full year and full occupation using our experience of similar properties and where possible, quotes have been obtained. It may become necessary to amend items contained in these estimates due to changes in specification made by the developer or in the light of operational experience before or after the first occupation in a new development or due to any unforeseen expenses in existing developments.
For providing this management function JP Edifice will add its fee to the service charge budget. Services we will provide for this fee:
- Produce annual spending estimates to calculate service charges and reserves, as well as administering the funds and providing information to auditors
- Produce and circulate service charge accounts and supply information to owners/tenants and residents associations
- Tender, place and administer buildings, plant and lift insurance
- Engage and supervise staff such as concierges and cleaners
- Tender, place and manage maintenance contracts on services like lifts, fire equipment and pumps, plus contracts for utilities provision, security , gardening, cleaning, window cleaning, refuse collection etc
- Pay contractors and suppliers
- Regularly inspect property to check condition and deal with routine repairs to buildings, plant, fixtures and fittings
- Look after routine enquiries from owners/tenants
- Keep records on owners / tenants and other matters
- Keep landlords informed on changes in legal requirements and check compliance with lease terms
- Advise on management policy
- Administer bank accounts held in trust
Services we can also provide for an additional fee:
- Giving court evidence on recovery of unpaid rents or other charges or on compliance with lease covenants and service charge arrangements
- Advising on rating, planning improvement , other grants and insurance claims
- Preparing replacement cost assessments for insurance purposes
- Considering applications for alterations
- Advising on assignments of lease, subletting and change of use
- Preparing agreements and checking inventories
- Copying documents, insurance policies and accounts
- Employing and working with other advisers
- Advising on and arranging assured and short hold tenancies
Dealing with solicitors about problems / issues of the apartments. We understand that emergencies can happen at any time so we provide a 24-hour reporting helpline.