Savings made with Urban Owners
Mr Upton reports that the most immediate benefit of moving away from the block’s previous managing agent was the savings made by the flat owners. Yearly management fees were halved – from around £5000 to just £2500 – all the more remarkable when you consider that it was the block management service they were receiving as much as its cost with which they were most alarmed.
Additionally, Urban Owners reduced the block’s yearly general repairs and maintenance expenditure from £8000 to only £3000. Again this is striking in that the service delivered by Urban Owners in this area far exceeded that of the previous managing agent, and for a fraction of the cost.
And in an added bonus, and an example of Urban Owners going above and beyond in block management, the block recovered in excess of £2000 in fees erroneously paid by the previous managing agent.
Additional benefits of Urban Owners’ block management approach
Mr Upton spoke of his surprise and encouragement that with Urban Owners, he and his fellow flat owners were taking charge of managing their block and that their block management decisions were being implemented.
This is as opposed to the situation with the block’s previous agent, where flat owners felt as though the managing agent was effectively freely spending their money without any consultation. Now they know exactly where their money is being spent.
Urban Owners also addressed a backlog of problems that had amassed over the previous managing agent’s seven-year tenure relating to complicated legal matters and outstanding monies owed, as well as ensuring a seamless block management transition from the previous managing agent.
Urban Owners appointed in project management role to oversee the block’s section 20 works
So happy were the flat owners with Urban Owners’ involvement that they were appointed to manage the block’s major ‘section 20’ works, and once again provided an exemplary service, living up to their word, and ensuring a smooth, efficient and stress free process.