The Ringley Group has launched a new platform, Service Charge Sorted, created to shake up the market and offer an alternative to hefty block or estate management fees.
Service Charge Sorted is the latest addition to the residential group, which manages a £12bn portfolio of apartments and properties for homeowners across the UK. Ringley has 30 years’ experience in residential real estate, advising major investors including Patrizia and Europa.
The new platform is designed for leaseholders in small blocks of flats and owners on private housing estates. It removes managing agent fees which, due to minimum fee thresholds, are often unfairly expensive for small blocks and estates.
Service Charge Sorted runs the service charge cycle from start to finish, from demanding the budget and preparing year-end accounts through to supporting owners selling their properties. It was created for small blocks and housing estates who own their freehold, have claimed ‘Right to manage” or have a management company as well as freehold investors.
Mary-Anne Bowring, Group MD of Ringley Group, said: “The process of managing service charges requires the right things to happen at the right time – Service Charge Sorted is an alternative to a managing agents’ minimum fee and will keep things running to protect against the numerous legal pitfalls that can leave the service charge void and uncollectable.
“It’s positive to be able to offer another solution, particularly as living costs continue to rise. Because new leasehold legislation is likely to be some way off, we expect to see an increase in the number of people claiming ‘Right to Manage’ – Service Charge Sorted puts some control back in homeowners’ hands and makes the process easier and fairer, while remaining compliant with leasehold laws.”
The Ringley Group is a RICS Tech Partner and Service Charge Sorted is regulated by the Royal Institution of Chartered Surveyors, the Solicitors Regulation Authority and the Financial Conduct Authority.
The Service Charge Sorted platform is as easy to use as online banking and provides a failsafe process to ensure service charge budgets get done, with additional legal and administrative support and advice for management issues. There are options to upgrade should major works be due or house meetings required, but it offers a low cost solution to take care of the legal and financial administration associated with service charges.
