Credit Control/Debt Recovery

The Directors of this large and prestigious site on the Harbourside had experienced poor service from a former Managing Agent who imposed excessive costs and decided to engage the services of a resident to act as their Agent.  It was clear that after 12 months this was not appropriate and a change to an external Agent was necessary.  The Directors followed a rigorous tender process, assessing all of the recognised Managing Agents in the Bristol area, and ultimately appointed BNS. At the end of the first year of BNS’ tenure, it was proven that the profitability had increased dramatically, and allowed for the service charge to be reduced by £33,500.00.  Additionally, as the previous Agent was working on site in a dedicated office it was agreed that there would be at least 12 hours of on-site office presence per week at regular times.  The Directors latterly agreed that it became clear that resources could be re-allocated to ensure the continued efficient and effective management of Deanery Road. Upon our appointment, we inherited £129,839.19 of Service Charge Debtors.  Over the following 8 month period BNS ensured this was reduced through our in-house collection system and other methods of debt recovery (Solicitors and Debt Recovery Agents) to £8,770.00.  The debtors continue to be suppressed as a result of our dedicated credit control function which utilises no win no fee advices on behalf of the Management Company and an informal and friendly approach at the very beginning of the credit control process by BNS proves very fruitful with having Leaseholders and Freeholders fulfil their legal obligations of Service Charge payment.