Property Management

Question 1

PM L2 ex 1

Answer 1

1. Management of a portfolio where i managed tenant arrears and established how we should recover them.
2. Established the types of recovery procedures that could be used.
3. Commercial rent arrears recovery (CRAR), Statutory demand, rent deposit.
4. Advised some should be CRAR’d. Some made payment after receiving the notice therefore did not have to CRAR them. The remaining were CRAR’d.

Question 2

PM L2 ex2

Answer 2

1. Mobilisation of a new portfolio (LGIM).
2. Saved and review all documentation: leases/legal documents, contracts, tenancy schedule, service charge budgets, reconciliations, arrears.
3. Set up meetings with previous MAs for handover.
4. Put all info into templates and ensured service charge and arrears were billed. Sent letter of authority out with bank details.

Question 3

PM L3 ex1

Answer 3

1. Service charge reconciliation of a leisure scheme on Isle of Wight.
2. Review expenditure, apportionments, tenancy changes.
3. Advised client that a cap had not been applied to the budget and therefore they now had a liability.
4. Advised that the budget was overspent. Justified this with regards to utilities, minimum wages, good estate management.
5. Wrote report, provided in depth commentary and issued.

Question 4

PM L3 ex2

Answer 4

1. Refurbishment of retail warehouse unit, Borehamwood.
2. Obtained request from tenant and reviewed plans and lease provisions. Established consent was required and to be documented by LtA.
3. Requested undertakings from tenant with regards to surveyor and solicitor fees.
   Requested all info: plans, RAMS, insurance.
4. Recommended that this should be permitted but documented by LtA to my client in order to protect them at term end.
5. Instructed solicitors.