Financial Management

Financial management for block management involves creating detailed budgets, collecting and managing service charges, ensuring regulatory compliance, and providing transparent financial reporting to leaseholders. Key activities include setting service charge budgets, handling contractor payments, managing reserve funds for long-term maintenance, and maintaining financial records

We can provide

We take care of all financial matters with full transparency and accuracy. Our services include:

Preparing and managing service charge budgets.
Collecting service charges and ground rents.
Credit control and arrears management.
Producing clear financial reports for directors and leaseholders.

As fully qualified members of The Property Institute, we adhere to the highest industry standards, giving you confidence that your development is managed with integrity, efficiency, and care.

Our Services

Property Management Communal Maintenance Financial Management

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FAQs

Service charges are payments made by leaseholders to cover the shared costs of maintaining and managing communal areas of a building or estate. These charges fund services such as cleaning, gardening, repairs, insurance, and management fees. We ensure every cost is clearly itemised and fully transparent.

Each year, we prepare a detailed annual service charge budget outlining all expected costs for the property/site. This includes routine maintenance, utilities, insurance, management fees and reserve fund contributions. Budgets are shared with leaseholders in advance and approved by directors in line with lease terms and best practice guidelines.

A reserve (or sinking) fund is money set aside over time to cover the cost of major works or long-term maintenance — such as roof replacement, lift refurbishment or external/internal decorations. We ensure funds are managed responsibly so that future large expenses can be met without unexpected one-off demands. This enables us to avoid large one-off spikes in budgets.

Service charge payments are collected in accordance with each property’s lease. We use secure client bank accounts, fully separated from our company funds, ensuring compliance with The Property Institute (TPI) standards and legal requirements. We carry CMP (client money protection) insurance, meaning your funds are always secure. Every transaction is recorded and available for inspection upon request.

If a leaseholder falls into arrears, we follow a fair and transparent arrears recovery process. We send reminders, offer support where possible, and only escalate matters when necessary, always in accordance with lease terms and relevant legislation. We work closely with solicitors to recover any debt. Our goal is to maintain positive communication while protecting the interests of all leaseholders.

Yes, we believe in complete financial transparency. Leaseholders receive detailed year-end accounts showing exactly how funds were spent. Copies of invoices and supporting documents can also be reviewed upon request.

At the end of each financial year, independent accountants certify the service charge accounts, depending on lease requirements. This ensures accuracy, transparency, and compliance with best practice in property management.

All client funds are held in designated accounts, fully compliant with industry standards. We follow the TPI (The Property Institute) code of practice and provide clear records, reports, and communication throughout the year. Bank account statements and invoices are available for inspection with a prior appointment.

Surpluses or deficits are dealt with according to the lease. If the lease allows the deficit can be made-up using the reserve fund, and the surplus can be added to the reserve fund. If the lease so specifies, a deficit may require a year-end payment to make up the funds, a surplus may be paid to the leaseholders.

Yes, we prepare long-term maintenance plans that forecast expenditure for the next 5–10 years. This helps ensure sufficient reserve funding spreads the cost of major works over many years and reduces the likelihood of large, unexpected costs.

Why Choose Us?

Unlike large corporate agencies, we offer a truly personal and bespoke approach, tailoring every aspect of our service to meet the unique needs of each development we manage. Built on strong values and a commitment to excellence, we pride ourselves on delivering outstanding service with a personal touch.

At RBM, you deal directly with a team that genuinely cares and is committed to making a real difference.

Let RBM deal with the stress and complications that come with property and estate management.

Financial Management

We can provide

FAQs

What are service charges in block management?

How are service charge budgets prepared?

What is a reserve or sinking fund?

How are payments collected and managed?

What happens if a leaseholder falls behind on payments?

Can I see a breakdown of how my service charge is spent?

How are accounts audited or certified?

How do you ensure financial transparency and compliance?

What happens if there’s a surplus or deficit at year-end?

Can you help plan for future major works financially?

Why Choose Us?