June 27, 2022

Retirement and assisted living properties

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Retirement and assisted living property

Charles Cox Ltd manages retirement and assisted living properties on behalf of residential leaseholders across the southeast. Our team ensures that your property is well presented, well-maintained and cared for, making our leaseholders feel secure and confident in their property, and our project management processes.

We offer three service packages and can tailor the level of service to meet your needs.

We work in the best interests of leaseholders

The Commonhold and Leasehold Reform Act 2002 gave leaseholders the right to take over the responsibility of their properties from their landlords. 

Our experienced team can give advice and guidance on ‘Right to Manage‘ and professional support at any stage of the process. We have considerable experience in RTM if you are considering this procedure, and we can present it to your Residents’ Committee.

Transparent and fair pricing for block and communal properties

Our block and estate communal property management services for retirement and assisted living properties include:

  • service charge management
  • compliance
  • the planning of major work
  • risk management
  • regular site visits.

Our Property Managers will oversee the maintenance of communal areas, gardens, landscaping, repairs, and redecoration. In addition, we ensure each development operates smoothly, and that longer-term projects are planned in advance to avoid minimum disruption to residents and visitors.

Retirement and assisted living properties – service charges explained

If you are moving into a retirement property, you may wonder why you pay a service charge. A service charge works in much the same way as if you live in a block of apartments. You no longer have to organise repairs to your property; this is undertaken as part of your lease.

A management company or a managing agent would undertake specific tasks for the building. These may include:

  • Buildings insurance (not content) for retirement and assisted living properties
  • Maintenance of shared parts of the building (as stated in your lease)
  • Grounds maintenance and/or gardening
  • Communal lighting – external and internal
  • Cleaning of internal communal areas
  • General repairs and refurbishment of communal areas
  • Cost of on-site staff such as a scheme manager.

A reserve fund addresses future repairs and replacements of lifts, communal windows and doors, fire alarms, roofs, paths, drives, car parks etc.

Each leaseholder’s service charge amount is usually stated as a fraction, a percentage of occasionally ‘reasonable share’. Even if you live on the ground floor, you would usually be expected to contribute to the cost of a lift.

A service charge budget is generally set for a 12-month period. Management companies will try and obtain the best value for money and provide a detailed explanation. Any surplus would belong to the homeowners, but any overspend would also have to be recovered from the homeowners. Property management companies do their best to supply as accurate a budget as possible given the difficult economic circumstances we find ourselves living through in 2022.

If a property hasn’t been occupied for several months, a service charge still needs to be paid as each property is liable for a percentage/fraction of the service charges, whether occupied or not.

Charles Cox Ltd is a Member of ARMA

As a member of ARMA, the leading professional body for residential managing agents, we distinguish ourselves from competitors through a commitment to delivering high-quality work for consumers.

Communications are easy for leaseholders in retirement and assisted living properties

Our head office and accounts department are based at Newhaven, East Sussex and is manned Monday to Friday for queries including the collection of service charges, ground rents and payment of invoices. Our accounts team will also prepare annual service charge budgets, annual accounts for external audits as well as supply quarterly management accounts.

Any queries you may have can be answered quickly and efficiently; we are only a phone call or email away. We all share a common purpose to provide our clients with an excellent service and continue to actively work in your best interests.

Please get in touch with us for further information.