Residential Case Study:
Bridgewater Bank
The Client
The Problem
In 2015 the Directors of Bridgewater Bank were extremely unhappy with the services they were receiving from their managing agent due to the following reasons:
- A lack of transparency
- Increasing costs
- Poor customer service
Our review of the development subsequently uncovered a history of incorrect service charges stretching back over 15 years, a number of large scale water leaks that were inflating insurance premiums, and a potential conflict of interest affecting the energy broker in charge of the communal electricity supply.
Our Solution
Casserly Property Management was appointed in September 2015 and quickly investigated and corrected the historic service charge errors, resulting in some leaseholders receiving credits totalling £2,500.
A full consultation process was undertaken to rectify leaking roof terraces. The Project was successfully completed on time and within budget without any of the contingency budget being used.
Following extensive negotiations with insurance brokers we were able to reduce the annual buildings insurance cost by over £7,000 as well as reducing the excess levels by £2,500 resulting in further savings for all leaseholder on future claims.
An independent energy broker was appointed to achieve the best value for the communal electricity supply. This broker is partnered with ARMA to offer ARMA Energy which combines the energy buying buyer of all ARMA members enabling advantageous pricing for members.
The electric gates at the development were upgraded to current regulations following an tender process with accredited contractors.
“Paul and his team have provided great value… whilst demonstrating professionalism, transparency and integrity. I have no hesitancy in recommending Casserly Property Management”