HML Property Management’s Post

📣 The HML Blog and News contains the latest updates and valuable insights in property management and leasehold services as well as tips and advice on the day-to-day running of your property. With topics such as Registration of High-Risk Buildings, Building Safety, Energy, Leaseholder Support, Fire Safety and more, you can expect to stay abreast of the latest legislations and industry news. 🔗 Check it out: https://hmlgroup.com/blog/ #PropertyManagement #LeaseholdServices #Blog #News #KnowledgeSharing #HML #Leaseholders

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐂𝐡𝐚𝐫𝐠𝐞𝐬? This is a sum of money which covers your share of the total cost to maintain the communal areas of the building and administering the contracts, buildings insurance and major works The lease should stipulate the payments periods and at what proportion each leaseholder pays towards the total annual cost of maintaining the block Service charges can be categorised as; ▪️Day-to-day expenditure required to keep the building and any communal grounds in good repair ▪️ Cyclical expenditure required at regular intervals, eg. external painting ▪️Periodic expenditure which is generally major repairs and maintenance Service charges can be payable both in advance and in arrears. Usually they are paid in advance on account for anticipated future expenditure There many also be the requirement to pay any balancing amount owing after the reconciliation of the annual accounts If you have any questions please contact our team 📞 0300 030 1035 📧 hello@horizonmanagement.co.uk ✨𝗣𝗥𝗢𝗨𝗗 𝗧𝗢 𝗕𝗘 𝗗𝗜𝗙𝗙𝗘𝗥𝗘𝗡𝗧✨ #blockmanagement #lettings #landlords #propertymanagement #yorkshireproperty #sheffield #horizonmanagement #yorkshire #apartmentliving #blockliving #choosehorizon #buytolet #sheffieldbusiness #thehorizongroup #propertyowner #yorkshireproperty #blockmaintenance #sheffieldbusiness #servicedapartments

Prioritise your assets. Construction thefts are common and costly. According to the Chartered Institute of Building “in the UK, it is estimated that the construction industry suffers a loss of more than £400 million a year due to vandalism and theft” and the recovery rate is less than 5%. GPS asset tracking solutions can be one of your best allies and help mitigate the risk to your valuable assets safe. Find out more. https://vzbiz.biz/3U4WWW7 #GPSTracking #FleetManagement #AssetTracking

🏢When it comes to conducting a reinstatement cost assessment for your property, it's crucial to consider more than just the surface-level expenses. Essentially, this assessment determines the amount needed to rebuild your property to its original state following any damage. There are numerous costs and factors involved in this process, including: 1. Materials: Fluctuating prices/availability but importantly speciality or unconventional building materials need to be considered. 2. Labour: Shortages in construction labour can escalate expenses and affect timelines. 3. Professional Fees: Architects, engineers, and other professionals may be required for the reinstatement process, adding to the overall cost. 4. Demolition and Debris Removal: Essential yet often overlooked, these expenses add to the reinstatement process. 5. Site Conditions: Unique site conditions or challenges can impact the complexity and cost of the project. At rebuildvaluation.ie, our commitment is to leave no stone unturned in our onsite reinstatement cost assessments. With our thorough approach, we ensure the correct reinstatement value, accounting for even the most unexpected factors. Specialising in protecting your property against underinsurance, we safeguard your valuable assets effectively. 🔍💼 If you require a Reinstatement Cost Assessment, call us on: 086 357 1713 or 01 5242118 #ReinstatementCostAssessment #Charteredsurveyors #Demolition #Debris #Hiddencosts #Underinsurance #Irishproperties #Commercialproperties #Assests SCSI - Society of Chartered Surveyors Ireland Insurance Ireland The Insurance Institute Brokers Ireland Trevor Kelly John Holland Colette Kenny Gabrielle Cosser

Did you know? 🤔 The RICS recommends reassessing a building's insured sum every three years? If significant changes have been made—such as refurbishments, upgrades, or expansions—it’s crucial to review sooner as these alterations can impact the cost of reinstatement. At Torridon - your construction cost partner, we’re working closely with clients to conduct thorough Reinstatement Cost Assessments. If you have any questions or would like to ensure your property is adequately covered, don’t hesitate to reach out! 🏢💼 #ReinstatementCostAssessment #RiskManagement #Torridon #RealEstate #Refurbishment

⚠️ It is crucial that anyone involved in the construction industry understands the application of the new building control regime. That's why we've put together an explainer of everything you need to know. 📽️ Watch: https://hubs.ly/Q02my3NR0

Make Smart Perth Property Decisions with Clear, Concise Reports. Navigating the waters of property investment can feel overwhelming. But your building inspection report doesn’t have to be. At ABBC, we ensure our reports are clear and easy to understand. No confusing jargon. Just straightforward information to help you make the best decisions. What to Expect: - Our reports provide a detailed look at your property’s condition. - From structural integrity to potential safety hazards. - You get a comprehensive overview, broken down into easy-to-digest sections. Why It Matters: - Knowing the exact state of your property helps you negotiate better. - You can budget for repairs and maintenance efficiently. - And, most importantly, you can feel secure in your investment. Next Steps: - Review your report with our expert inspectors. - Get answers to all your questions. - Prioritize issues that need immediate attention. Use the report to guide your decisions, whether you’re buying or negotiating. Conclusion: - Our clear, concise reports empower you to make informed decisions. - No stress. - Just confidence and peace of mind. 📞 Call ABBC at (08) 9200 4200 to book your inspection 📞 Or Visit: abbc[.]net[.]au Andrew Booth ABBC Building Inspectors #HomeInspection #PerthHomes #PropertyMaintenance #ABBCBuildingInspectors #BuildingSafety

Let's talk 10 year maintenance plans. Who approves the plan? The PMR further states that the MRRP only takes effect upon approval by the Body Corporate at a general meeting. Additionally, when approved, the members can specify conditions for the payment of money from the reserve fund. & if required, the plan can be amended, keeping in mind that all contributions & expenditures need to be recorded & accounted for. At each Annual General Meeting (AGM), the trustees must provide a detailed report on how the approved MRRP has been implemented. The ten-year maintenance, repair & replacement plan protects sectional-titles from difficult situations, such as not having sufficient funds to perform imperative maintenance projects. This could lead to further deterioration of the building or may require owners to fork out large amounts of money in a short space of time. Bodies Corporate are urged to place emphasis on the MRRP, & employ the expertise of a professional with the wealth of knowledge & experience who will assist with budgeting requirements & all maintenance aspects of your scheme. Curasure has actively promoted & completed 10-year plans for the sectional title community since 2006. We provide a basic and affordable professional estimate of the maintenance costs that complies with Sectional Title legislation. Our unique offering is designed to assist the Sectional Title Industry to move towards compliance with legislation to the Sectional Title Act. Our services include life-cycle cost analysis, a 10-year forecast of maintenance, repair & replacement costs as well as a corresponding reserve fund forecast & contribution schedule. We also offer building audits that reveal structural defects, rising damp, exposed asbestos, roofing & guttering problems, plumbing & electrical issues. Call our team of experts on 011 675 2595, or visit our website for more information: https://lnkd.in/diMPJHGh #Curasure #10YearMaintenancePlans #PropertyOwners #BodiesCorporate #BuildingMaintenance #PropertyMaintenance #SectionalTitleSchemes #SectionalTitleLivingInSouthAfrica #NationalAssociationofManagingAgents #PreventativeMaintenance

📋 The Importance of Contingency Planning 📋 In May, news broke that the Reserve Bank of Australia had found 4-5 times more asbestos than expected in its headquarters during its refurbishment project. As a result, the project is now almost 290% over budget and will be delivered more than four years late. This horror story is a keen reminder of the importance of including an appropriate contingency budget in all projects. A 2023 study of more than 16,000 ultra-large-scale construction projects found that a staggering 91.5% went over budget, over schedule or both. Even with the most careful planning, unexpected obstacles can arise mid-project. That's why the most carefully planned projects include a contingency budget. #construction #constructionplanning #budget

Have you noticed that as we're aging, we need to pay closer attention to our bodies and minds? Who hasn't, right? I don't know about you, but I sure am a little slower and my body parts are definitely not what they used to be. The same goes for aging buildings! Just like us, buildings need proactive care and attention to ensure they continue functioning at their best. From FISP repairs and Local Law 88 compliance to energy upgrades under Local Law 97, these capital expenditure (CAPEX) projects keep your co-op or condo in shape. 🛠️ Neglecting these needs can lead to more expensive problems down the road. Our latest guide breaks down how to manage CAPEX projects like a pro, ensuring your building stays healthy and thriving! #NYCRealEstate #CAPEXStrategy #BuildingCompliance