Frequently Asked Questions
Many leaseholders purchase a leasehold property without fully being aware of their responsibilities or infact the rules and regulations that they need to abide by. Our team are happy to help with any queries leaseholders may have when living within leasehold properties, below are the most commonly asked questions answered. Should you require any further assistance please contact us.
How do I change my address?
You can change your address by logging into the tenant portal or by clicking the link here which will take you to another page to complete and one of our team will be in touch to confirm the change once you have submitted the form.
You can change your correspondence address by logging into the tenant portal and editing the ‘My Details’ page or alternatively by clicking the link here and completing the request form. One of our team will be in touch to confirm the changes.
How do I request all my correspondence to be sent via email?
You can set your ‘Method of Correspondence’ by logging into the tenant portal and editing the ‘My Details’ page or alternatively by clicking the link here and completing the request form. One of our team will be in touch to confirm the changes.
Why do I pay a service charge?
Your service charge is your legal apportionment of the share of the costs incurred in maintaining, renewing, replacing and insuring the communal areas and structure of your building in accordance with the terms of your lease, for example, costs for cleaning the communal areas, ground maintenance, lifts maintenance, repairs and maintenance within the communal areas.
How do I know what my service charge is spent on?
At the end of each financial year, statements are prepared by an independent accountant showing income and expenditure for your property. The statements are circulated to all leaseholders, who can be provided with further details of any items of expenditure upon request.
How do I pay for my service charge?
As a leaseholder you will receive a service charge demand at the frequency your lease dictates, typically annually, half yearly or quarterly. You can pay the demanded amount either by standing order, telephone / internet banking or by debit or credit by either logging into your designated client login page or by calling our office. If you have any queries regarding your service charge account please contact us to discuss.
What if I have a maintenance issue?
As managing agents, we would only become involved with an issue should this be within the communal areas or estate of the property. Anything maintenance related within your own apartment would be the responsibility of the owner. Should you be aware of a communal maintenance issue on site please click here to report this. Thank you
What is an anticipated service charge demand?
Most leases contain a provision for the Landlord/Management Company to raise anticipated service charge demands in advance of the year end to meet the expected expenditure to be incurred during the financial year of the development. Where a service charge is payable before the relevant costs are incurred, it must be a reasonable amount.
What is a balancing adjustment?
Best practice is for Managing Agents to produce year end accounts and service charge certificates within 6 months of the developments financial year end. Leaseholders have a legal obligation to contribute to their allocated proportion of actual costs incurred. The service charge certificate will detail the total payable by the leaseholder as well as the total anticipated service charges demanded during the related financial year. Should the proportion of actual costs incurred be greater than the total of the anticipated demands, the leaseholder will be required to make payment of the balance. However should the proportion of actual costs incurred be lower than the total of anticipated demands, a credit will be made to the leaseholders account to be offset against future demands.
What if I wish to make a complaint?
Inspired Property Management is committed to providing a high quality service to all of our clients. However we acknowledge that on occasion’s things can go wrong. When something does go wrong, we need you to tell us about it. This will help us improve our service. Please click here for the IPM Complaints Process 2020.
What are Client Monies?
As Managing Agents, it is a requirement of our ARMA and RICS accreditation that our procedure for Client Monies is available and published. The Client Money Protection Scheme for Property Agents Client Monies (Approval and Designation Schemes) Regulations 2018, defines Client Monies as ‘money received by a property agent in the course of English letting agency work with the meaning of section 55 of that Act; and held on behalf of another person’.
This procedure details those controls which exist over our Client monies and explain how client monies are kept safe, used for appropriate purposes and in accordance with those regulatory bodies for which Inspired Property Management are members. You will find a copy of our client monies procedure here: IPM Client Money Control Procedures.
Update of IPM’s COVID-19 pandemic policy?
As COVID-19 (coronavirus) continues to impact people and organisations globally, we would like to update you on the further steps that Inspired Property Management is taking to ensure business continuity for our clients. Please read our Pandemic Policy Leaseholders 17 March 2020.
ARMA advice on cladding and the mortgage market:
The Government introduced Advice Note 14 (AN14) in December 2018. It has had unintended consequences in that it effectively requires buildings to conform to today’s building safety standards rather than those at the time it was built. Prior to this as long as the building was signed off when it was built, that was deemed sufficient.
This has led to a number of problems: please click on the link to find out in more detail what this means for leaseholders.
What is the RICS Client money protection scheme?
RICS Client Money Protection Scheme. RICS operates a Client Money Protection scheme (CMP scheme) in the UK. This scheme provides protection, as a last resort, in instances where an RICS Regulated firm is unable to repay a client’s money, up to the limits and exceptions set out in the scheme rules. IPM are members of this scheme, which can be evidenced by our certification here: Inspired_Property_Management_RICS_Client_Money_Protection_Scheme
Would you like to provide feedback on your service?
All feedback is important to us, by clicking the link here, you will be able to provide us your comments. This will only take a few minutes of your time and will be invaluable to improving our service for you in the future. Thank you