P R Gibbs & Co Limited provides excellent residential long leasehold management services to numerous clients. We are currently in the process of revising our service description marketing material for block management to reflect the statutory changes and growth of long leasehold apartment ownership. Please see set out below some details of our service provision and rationale. We are aware from our extensive experience of block management that problems often arise due to a lack of understanding by existing and new lessees of the extent of the services to be provided by the management company and the retained managing agents. In an endeavour to minimise such misunderstandings that often escalate out of proportion and lead to dissatisfaction and anger, we communicate with all lessees with an introductory letter and with an information leaflet setting out the services to be provided and those services that do not form part of our responsibility. When we are instructed to manage a residential development we agree a protocol with the management company in respect of handling issues such as property defects reported to ourselves that don’t fall within the management company’s responsibility and the handling of management issues that might be reported by a lessee. We have found that such a coordinated approach helps maintain a good relationship with the lessees who generally appreciate what they see to be an efficient and caring service. We prepare detailed draft service charge budgets and provisions, as appropriate, for a reserve fund for future cyclical maintenance that should always be properly planned for. On client approval of the budgets we apportion the charges to each lessee in accordance with the provisions of the lease prior to invoicing the amounts due and managing the collection of the same. The provisions of the lease are managed by P R Gibbs & Co on behalf of the management company to ensure that the management company covenants are preformed professionally. It is important that lessees are made aware that a well managed and properly maintained development providing a pleasant living environment will perform comparatively well in the property market. That is to say, service charges, if professionally administered, are an investment in property values and in the living environment. Conversely, under funded services will result in what appears to be a lower service charge actually being an absolute cost, property values missing out on potential performance and a less pleasant living environment. P R Gibbs & Co currently manages the long leases and services to in excess of 2,500 properties at a number of executive residential developments across Greater Manchester, Cheshire, Merseyside and Lancashire, including 360 apartments and houses at the prestigious Salford Quays as well as in Manchester city centre. Since 14th January 2005, managing agents who arrange or administer general insurance, including buildings insurance, and or collect insurance premiums or assist in claims must be regulated by the Financial Services Authority (FSA). P R Gibbs & Co is compliant by way of licence from the RICS who are a Designated Professional Body under the FSA. As chartered surveyors we are bound by the regulations of the Royal Institution of Chartered Surveyors (R.I.C.S.) including client accounting regulations, professional indemnity insurance and codes of practice. We are also corporate members of the Association of Residential Managing Agents (ARMA), a professional body for those specialising in long leasehold residential (block) management and who meet membership criteria. The directors and key members involved in Block Management of our firm are members of the Institute of Residential Property Management (IRPM). P R Gibbs & Co Limited is Certified as an ISO 9001:2000 quality compliant registered firm. Our fees for management are calculated on an instruction by instruction basis. Our fees are dependant on our projected costs of discharging the management company’s service provision obligations under the terms of the lease. A major determining factor of fees for a particular development is the number of residential units coupled with the geographic location. Our typical terms and conditions of business for the management in this instance (unless varied by agreement between us) would be those set out in the draft typical contract herewith (the actual contract may vary to reflect current regulations, good practice and client requirements) These terms of business are taken from the standard terms produced by the Royal Institution of Chartered Surveyors and set out the services provided and those that are not, however we can often tailor the services to suit requirements for example we act as company secretary for a number of developments. The contract would be for an initial eleven month period and can be terminated by three months notice if continued after the eleven months. Please note as we are currently updating our contract to reflect changes in statutory regulation and good practice, the actual contract may reflect such changes. P R Gibbs & Co, in accordance with the regulations of the RICS and ARMA operates a complaints procedure for the benefit of clients and others. A copy of our complaints procedure is available on request. | 
