Our approach to Property Cost Management has been developed to satisfy an increasing demand from occupiers seeking to exercise control over their property outgoings. Due to its continued success, we have applied a similar approach to the control of our customers Landlords Insurance Recharges, resulting in significant savings.
The solution comprises a number of stages :
We have a clear and defined implementation program to ensure that each key step is completed in line with our proven approach and to deliver the key benefits both in the short and longer term.
The immediate benefits to the customer include our offer to obtain all the legal and financial data that we require. In the event that there are sensitive documents, we are able to commit to complete the process without those documents leaving your office. In addition, due to the investment that we have made, the quality of our copying and scanning provides electronic documents that can be used for other purposes, particularly for those that are yet to convert to a paperless office.
The initial benefits continue to add value in the longer term, supplementing the more significant gains that flow through following the Implementation. This is because we have high quality and well organised information before moving on to Financial & Lease Analysis.
As part of the initial audit, we examine financial transactions to identify duplicate payments, credit notes that have not been taken, VAT errors and a variety of other accounting issues. This is achieved through a series of data analysis techniques.
At the same time, we embark on the more traditional analysis of service charge budgets & reconciliations as well as Insurance Schedules and Certificates, with a view to securing best value for money from the lease liability.
This dual approach means that we provide audit & recovery as well as ongoing management & consultancy as part of the solution.
The Lease (and related documents) set out the contractual liability between the parties. We have developed a systems based approach that allows for efficient and effective identification and recording of the key terms using Optical Character Recognition and other techniques.
Adopting a consistent approach, we can easily search key terms and cross reference to the data reviewed during Financial Analysis. The teams expertise is then employed for interpretation by reference to experience and legal precedent.
The Analysis is the first step in identifying the cost saving opportunities. Beyond that we have a consistent approach to following up on any issues arising. This is designed to allow a reasonable period for differences to be resolved but also recognizes the need to escalate matters, where required, to secure an early agreement.
Where parties cannot agree, we support the use of Alternative Dispute Resolution by the various means outlined in the RICS Code – Service Charges in Commercial Property. We provide representation, where required.
Through our web based platform, we offer immediate, 24/7 access to the case management and performance monitoring reports.
As an alternative, we are able to provide this information on request or by reference to an agreed reporting schedule.
Either way, we guarantee results against agreed performance targets.