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In accordance with statutory requirements, all the service charge and reserve/sinking fund monies we hold on to behalf of clients and leaseholders, are held in nominated trust accounts so separate from Fountayne Managing Ltd.’s own funds. We adhere rigorously to accounting standards. We undertake independent external audits of our accounting function regularly to ensure that we are complying with all accounting regulations.
Yes, we take care to manage all our clients’ buildings in accordance with the law, recognised Codes, and best practice, including the RICS Service Charge and Residential Management Code.
Your block with have a dedicated team comprised of the following:
The role of the managing agent is to look after the communal parts of the building including the structure, grounds, arranging the services, repairs, and maintenance, etc on behalf of the Freeholder.
Under the terms of the lease, the Freeholder will have covenanted to carry out a number of
tasks. It is these tasks that the Freeholder asks the managing agent to arrange on their behalf.
How we provide these services on behalf of the freeholder, is what we believe differentiates us from our competitors.
We pride ourselves on having a much more hands on and visible approach to management. We work on behalf of the freeholder and leaseholders to lower your time investment and to give you peace of mind that your monies are being spent appropriately, responsibly, and that our service, particularly our customer service, exceeds expectations.
We take pride in our team and they in their portfolios and job involvement. As such we have an exceptionally low staff turnover. This enables our clients and residents to build a relationship with the property manager and their team, ensuring a personal touch to the management of your building.
Our property managers are associates and members of the IRPM (Institute of Residential Property Management) and RICS (Royal Institute of Chartered Surveyors) having passed their necessary exams to achieve this. Our accounts and bank office staff are members of the AAT (Association of Accounting Technicians Professional).
Our team is based at Emma House, 214 – 218 High Road, London N15 4NP - This means that we are conveniently located to arrive at the property within 30 minutes by either public transport or car should there be an emergency.
You have a single, designated Property Manager who can, dependant on your Management Agreement, visit each block within a 4–6-week rotation, often more when required.
On Site Visits your Property Manager completes a thorough Property Site Inspection Pack. Any noted issues are then dealt with when the property manager returns to the office and their report filed and updated on our system, ready for their spot checks & Property Review meetings. If there is any serious issue found, then this is dealt with by ‘phone immediately. We also inspect for any upcoming issues we identify on the property, such as redecoration required that year, car park refurbishments, updates on internal wiring, potential roof works – so we can pre-emptively plan and inspect before they become an issue or require the issue of an S20.
This will vary depending on the terms of your lease and the property requirements itself. Every Service Charge Budget is Site Specific and compiled after a close inspection from your Property Manager. Essentially it will cover:
Fountayne Managing understands purchasing a property is one of life's important decisions, therefore prospective purchasers, especially in today's current financial climate are becoming more concerned about Service Charge costs and property/ estate maintenance.
Leaseholders are also invited and entitled, by unanimous vote of the block, to alter the selected contractor and/or number of visits made per year to their property, provided this does not negatively impact the service standard of the property.
All our leaseholders receive pre advice on their new service charges at the beginning of each financial year, with a cover letter to explain any variations to provide complete transparency. We also advise on their collection schedules so you can plan your finances accordingly.
Following you Service Charge Budget you will receive a Schedule of Works itemising planned works for your property that year, with a date/month indication of visits. Fountayne take the safety and wellbeing of their clients very seriously and believe you should be aware.
when any contractors should be on the premises.
This is an example of our service, but it can be tailored to meet your requirements.
We ensure that all management functions are carried out in accordance with current legislation Abide by relevant Codes of Practice and ensure compliance with the terms of leases.
We handle any simple breaches in accordance with the Freeholder’s instructions. (If the matter becomes protracted, we reserve the right to charge for the time involved in resolving the issue. This would normally be a charge to the leaseholder involved).
No. You will not be required to pay your fellow leaseholders service charges if they fail to pay. We have strict processes and procedures in place to recover arrears direct from the leaseholder in breach in accordance with the terms of the lease. We do however acknowledge that there may, on occasion, be mitigating situations which can cause difficulty for our leaseholders, and we are here to help provided there is clear communication and agreement.
You are welcome to make an appointment with your Property Manager to come to our offices during normal office hours and facilities will be made available for you to inspect the invoices and take copies. Likewise, for those who perhaps live abroad, we understand this may not always be possible and can provide the information you require upon request. We reserve the right to charge for any photocopying.
No, we are a multi-disciplined practice of chartered surveyors to ensure impartiality. Our Property Managers are fully qualified to oversee and manage the entire process form start to finish.
We run an approved list of contractors collated via 6 years of experience. Each contractor is selected based on individual suitability to each project. We regularly tender service contractors. The combination of our knowledge and the contractors’ experience ensures a reliable, prompt, and cost-effective service.
We have a dedicated in-house health and safety team who provide help and guidance. All the buildings we manage are inspected periodically by an external consultant who completes health and safety and fire risk assessments, as required by law.
This will depend on the terms of your lease and any rules that have subsequently been introduced by your freeholder.
No, as your flat forms part of the building, the freeholder will arrange the insurance of the whole building with a specialist company in accordance with the covenants set out in your lease. Insurance premiums will reflect the number of claims made in a building so it is in everyone’s interests that a building is well maintained. We would always encourage leaseholders to regularly maintain things such as shower seals, hoses on washing machines, etc to help prevent claims and disruption to your neighbours.
No, the buildings insurance policy covers the structure of the building and the freeholder’ fixtures and fittings mainly within the common parts but these may include the kitchen cupboards and bathroom fixtures within each flat. Our leaseholders can verify directly with their property manager on what the policy covers. You are responsible for the insurance of your own contents. These may include any wooden floor finishes if these are not original to the block, and these will be presented in the terms of your lease, which your property manager will be well versed in.
Ground rent is a charge payable to the freeholder. We collect this on their behalf and provide all financial statements directly to the Freeholder. This charge, together with the frequency of payment, will be set out in your lease, the contract the parties have signed. As with your service charges we provide all our leaseholders with a schedule of costs at the beginning of every financial year, so you can manage your finances.