Contract Administration (Dilapidations Works) | S.18(1) L&TA '27 Appraisals | Property & Estate Management Plans | Service Charge Expenditure Reports | Sinking & Reserve Fund Appraisals | Fire Risk Assessments | Access Audit | Energy Efficiency & SAP Audits
Sinking and Reserve Fund Appraisals
A Sinking or Reserve Fund is a pot of money that leaseholders may pay into over a period of time on top of their monthly service charge to cover major or unforeseen works such as replacing a roof or carrying out external redecorations. Not all buildings have this arrangement in place and it will depend on the conditions contained in the lease.
Barker Associates offer specialist advice to leaseholders and Property Management Companies regarding the present condition and future maintenance requirements of buildings and make recommendations on the amount of money that should be set aside for such a fund. The potential liability for repair costs will differ dramatically from building to building depending on its age, condition, previous maintenance regimes and construction type. All property owners should consider putting in place a Planned Maintenance Programme to ensure that buildings are kept in good condition and repair costs are minimised which is Barker Associates, can assist with also.
