Blocks Online News

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…