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The latest news and articles from the team at Blocks Online
Service charge money legally belongs to leaseholders, not to the agent or freeholder collecting it, and UK law requires it to always be held and accounted for separately from company funds. It’s not just sound accounting practice to keep these funds apart. It is a legal obligation intended to safeguard leaseholders’ funds and guarantee total…
Learn how block managing agents can speed up service charge accounting turnarounds by combining Blocks Online technology with stronger bookkeeping, continuous close processes and clearer leaseholder transparency.
Learn how block managing agents can speed up service charge accounting turnarounds by combining Blocks Online technology with stronger bookkeeping, continuous close processes and clearer leaseholder transparency.
Have you ever thought about how service charge accounts are actually produced, and whether the process still makes sense today? It’s a process that’s been in place for decades, with very little change, even though it may no longer be the most efficient way of working. As agents you are generally driven by lease obligations and legislation to certify the expenses / accounts of the block / scheme concerned. However, across the industry, agents…
Spreadsheet-based service charge accounting is costing UK property management companies time, accuracy, and stakeholder trust. Our work with Cox Hinkins with managing agents, landlords, and RMCs shows a consistent pattern: traditional spreadsheet approaches are no longer meeting modern operational and regulatory demands. This article examines why these systems are breaking down and how dedicated accounting technology can…
It’s a common misperception that Service Charge accounts should be easy to produce. At Blocks Online we often receive enquiries from leaseholders, via their agents, about providing cash accounting because they want to understand what they can spend. Or agents themselves sometimes ask for accruals-based accounting to be ignored. And most worryingly, for Service Charges to be accounted for through the Management Company accounts. Why can’t these simple requests be actioned? Because there are several important principles that…
Producing Service Charge accounts each year for your clients is forever becoming a more rigorous and arduous process. With the increased regulatory demands and growing tenant scrutiny, property managers need to stay ahead of the curve. In addition, our data shows that roughly 50% of schemes/blocks have a calendar year end, which presents an organisational…
At Blocks Online, we know that transparency and fairness are at the heart of effective property management. Property owners and leaseholders want assurance that their investments are being managed ethically and in their best interest.
At Blocks Online, we know that transparency and fairness are at the heart of effective property management. Property owners and leaseholders want assurance that their investments are being managed ethically and in their best interest.
At Blocks Online, we know that transparency and fairness are at the heart of effective property management. Property owners and leaseholders want assurance that their investments are being managed ethically and in their best interest.
The property management world is changing, and at Blocks Online, we’re seeing first-hand how The Property Institute (TPI) is at the centre of this transformation. With a focus on raising industry standards and ensuring property managers are well-equipped for the job, TPI is setting the bar high for the future. Let’s take a closer look…
Managing block properties in London presents a unique set of challenges, given the city’s diverse and densely populated landscape. Effective block property management requires navigating complex issues related to regulations, maintenance, and property owner relations. At Blocks Online, we understand these challenges intimately and are dedicated to providing solutions that streamline property management processes.
