Alexander Faulkner Partnership have invested heavily in the best integrated software for handling client funds and accounts. We have installed the powerful property management system Qube, which is linked through to our client Bank Account in Natwest, Client Money Services. As a business we corporately bank with Lloyds, but wished complete division when handling client funds, hence a different provider.
The Accounts team work alongside our Property Managers and cover the following:-
- Loading the service charge budget
- Issuing service charge demands with s153 Notices
- Payment can be made electronically, standing order, credit or debit card
- Credit control and where administrative fees are incurred issuing s158 Notices
- Collecting Ground Rental through s166 Notices
- Bank Account reconciliation
- Regular contractor payments every 2 weeks
- Client Reporting including budget against actual, and service charge debtors
- Liaison with year end accounts/ auditors
- All Interest on client accounts whether in deposit or current account, earn interest for the client, and not ourselves
We believe that total transparency is the only way when dealing with your money. Accordingly every home owner can view their own account through the tenant portal and our clients can view the service charge ledger in terms of budget against actual and debtors for their block. Funds are held in designated s42 trust client accounts and are administered strictly in accordance with the RICS Code of Conduct. The very fact that as a business we have chosen to keep your client monies with a different bank to our own business we believe speaks volumes as to the level of security we wish to provide to our clients.