Insolvency property services
We offer a range of services for what is a very complex issue. Distressed property management can require anything from a qualified locksmith being available 24/7 to an immediate and thorough assessment of health & safety – we provide these and everything in between.
We take an immediate and proactive approach to assessing liability and resolving any issues. This is done whether a property is fully occupied, part occupied, or vacant.
When a property goes into receivership, the liability shifts from the owner and it is very important to leave no stone unturned in protecting you, the lender, ourselves as property managers, and of course the tenants residing in the property. Upon instruction, we:
- Actively carry out vacant property inspections for insurance compliance purposes
- Provide fire, asbestos and legionnaire risk advice
- Arrange Health & Safety risk assessments and fire alarm tests
- Review gas and electrical safety compliance
We use third party, qualified, assessors. Full surveys can be provided on request.
Getting everything under control involves contacting the tenants of the property, because all leases are still binding in receivership. As such, you will require the full terms of every lease agreement at the property, and we will do the legwork to obtain that.
We will contact all the tenants immediately and ensure that any existing payments for rent and repairs are halted and redirected to the appropriate accounts. We will also gain a picture of the overall standing of accounts with tenants, and look to balance any outstanding discrepancies or monies owed.
Ongoing property and asset management
Beyond the initial response of ensuring all contractual obligations of your liability are met, we are able to provide our comprehensive service for distressed property management of assets in receivership, including offices, industrial and retail units, and residential properties.
We know that a property could well be in receivership for a while and, during this time, the property itself still contains a raft of occupiers. They provide the income, giving the property value – so maintaining the property and the satisfaction of the occupiers during the period of insolvency maximises the appeal to a buyer. Our services include:
- Rent collection, rent reviews and lease renewals
- Service charge management
- Sinking and reserve funds for future planned maintenance
- Financial reporting
- Practical property management:
- Structural maintenance and redecoration
- Internal corridors and stairs
- Lift maintenance
- Car parks – access control, permits and fobs
- Lock changes
- Landscaping, grass cutting and estate roads
- Cleaning, window cleaning and deep cleaning of carpets
- Commissionaire and reception services
We use fully vetted and accredited contractors where required. These are hand-picked as the best fit for our client, the building, and its location.
KWB Property Management Ltd is an appointed representative of Jobson James Insurance Brokers Ltd, which is approved and regulated by the Financial Conduct Authority (no. 516147).