Yes. lpm will provide a contract covering the period when the developer remains on site. This has been structured as a contract with the homeowners, until the first Annual General Meeting of owners is arranged, following completion of the full site.
At lpm we fully understand how difficult it can be to access relevant information when you most need it. To make life easier, we have collated the answers to the questions most frequently asked by Developers. Simply, click on the question to reveal the answer.
Should your question not be listed please contact us for an immediate response.
lpm Doing it the right way
lpm set up Trust Accounts in the name of the Residents of the Development. This means that your funds belong to you and are not classed as an asset of lpm. Other Property Managers may hold Owners' funds for all Developments in one account. With Development Trust Accounts all interest earned by the Account is returned to the owners.
Monthly Development Inspections
Properties under the management of lpm are inspected by an Estates Manager assigned to the development on a regular basis throughout each year and residents are provided with a site visit schedule along with details of our Cyclical Maintenance Programme. The visual inspection covers all common areas, including the fabric of buildings, internal stairwells, bin stores and landscaped areas etc. Any defects or issues are noted and if necessary, remedial action is taken. The Estates Manager makes follow up inspections to ensure the remedial work instructed has been carried out to the highest standard.
Our proactive approach to maintenance programmes, rather than reactive approach saves longer term costs for the Developments. Monthly Estates Manager Development visits and ten year Maintenance Programmes are the lpm standard.
Out of Hours 24/365 Control Centre
Unlike other Property Management Companies, lpm have an out of hours Emergency Control Centre ready to take emergency calls 24 hours, 365 days a year. The centre is staffed with Property Professionals capable of dealing with and escalating emergency calls.
Regular Owners Meetings
Once a Development is complete, lpm arrange a Residents' meeting. We do not wait until problems arise before arranging meetings. In some cases developments may be handed over in phases, which may result in holding phased meetings with owners through to completion.
Budget and Accounts Meetings
When managing any funds, budgets and accounts are required. lpm can arrange Budget meetings and Year End accounts meetings with owners.
Annual Risk Assessments
Assessments are carried out annually to ensure continued safety on each development.
Contract Bi-annual Tendering
lpm regularly retender contracts to ensure the highest service level delivery from subcontractors.
Due to the volume of business lpm has, we are able to negotiate preferred rates from suppliers, e.g. Building Insurance and Lift Maintenance.
An lpm dedicated Estates Manager liaises with QS/Senior Site Staff on handover timelines. A programme of quarterly meetings is arranged for each phase of the development. As each phase is completed, a site handover procedure is set up between QS/Site Manager/lpm/Maintenance Contractor. lpm gain a full understanding of the phase by phase handover via communication with the development team regarding traffic management, construction segregation, Health & Safety and protection of completed phases. In addition we have a full understanding of how a high standard of maintenance and place keeping will be sustained during phase by phase handover.
lpm hold regular meetings with developer clients to discuss future sites and highlight any potential PR issues on existing sites. These include site closure meetings, defect meetings and site start up meetings. We also offer staff training for sales teams, via presentations and other processes.
lpm has a very stringent handover process for completed developments or phased handover developments. It ensures that all documentation is in place for effective handover, communication with clients and developers and avoids any potential upsets following completion of the sites. Details of this process can be supplied on request.
A float deposit is payable upon purchase of a property either to the developer or direct to lpm. The level of the Float is detailed within the Deed of Conditions. The float provides lpm with the initial funds to maintain the development until such time as we issue the service charge account. The Float is held by lpm until such time as an owner sells their property at which point the Float is credited back to them and offset against any service charges due.
lpm assist many developers in formulating the Deed of Conditions or reviewing them prior to final draft. We can also provide assistance with site specifications, as we have knowledge of what works and does not work on developments post construction.
lpm communicate with all owners, as areas are handed over. We provide a timeline to the end client of when costs should be initiated. This allows the end client to be aware of what they should expect to pay for and when they should be expected to pay for it. A colour coded phase drawing is provided to owners to highlight areas handed over. lpm provide a dedicated Estates Manager to each site. The Estates Manager will visit the development on a monthly basis and report on the standard of maintenance and if required, will report on defects and liaise with the end client.
In addition to day to day liaison and to further establish effective communication, information meetings are arranged for each phase handed over. This regular exchange of information, allows Owners Committee’s/Steering Groups to be organised and fully informed.
The Estates Manager will continue liaison meetings with QS/Senior Site Staff post phase handover discussing any defects highlighted by the Estates Manager or via Owners Meeting’s and will continue with next phase liaison meetings. Ongoing liaison continues on site with development teams to ensure traffic management, construction segregation and Health & Safety. Monthly Estates Manager visits establish the requirement for place keeping sustainment e.g. gain feedback for development team to de-litter, road surface clean etc
We provide the sales team with the service charge budget information following the contract being awarded. This is in the form of an Introduction Pack detailing our service levels. On a large scale phased site, lpm hold regular Information Meetings with Homeowners throughout the phased handover, keeping them informed of services and any defect management. On completion of the development, lpm arrange an Annual General Meeting of all owners and attempt to form an Owners Association and Committee, providing owners with the opportunity to input to the management of their development. Following developer liaison meetings, we feedback any relevant information.
lpm will require a colour coded landscape drawing identifying plot numbers and site layout. A copy of the Deed of Conditions is a necessity, together with the float level agreed. Towards the initial property completions we will require address listings for the owners.
This is dictated by the Deed of Conditions and what has been detailed therein. If a Float is in place the development will be invoiced in arrears. If no Float is in place via the Deed, it would normally state that the development is invoiced in advance, based on the service charge budget supplied at tender.