multiblock estate

Improving a managing agent’s credit control with a fresh and focused approach

Brady Solicitors share a success story from a new managing agent client that ‘tested us out’ for service charge recovery – and saw fast and effective results.

When continually working with the same suppliers, no matter the industry, you can become accustomed to the standard of service delivered, without necessarily knowing what good looks like. That is exactly what happened in this case, where a fast-growing Manchester based managing agent initially gave us five cases to prove ourselves, as they believed they were happy with their current solicitors.

We recovered these initial five cases in full, within an extremely short time frame, surpassing their expectations in terms of both results and client service.

In the 12 months since then, we’ve taken care of all service charge arrears for the managing agent, with a further 50 arrears cases. We have recovered 80% of these in full following a letter before action (LBA), with the remaining cases on track to settle swiftly.

A robust and efficient process

We believe the success of this first year has been largely due to the robust and efficient process we have put in place with the client, providing them with monthly meetings and a dedicated account manager. In addition to this we have supplied them with regular reports giving them full visibility of the status of each of their cases.

Currently the average recovery time for our client is 33 days, which has benefitted not only the managing agent in getting the case resolved swiftly and limiting the impact on their cash flow, but also the leaseholders, as by settling the outstanding amounts upon LBA they’ve avoided any additional costs.

Working as a team with the client

The managing agent client commented:

“During our working relationship, Brady Solicitors has become part of our core team. Their advice is authoritative, and they understand our sector inside out. Their credit control service is highly effective, but also sensitive to the wider relationship we have with our leaseholders.”

If you’re interested in looking into whether your existing credit control procedure can be improved upon, or you have outstanding service charge arrears you would like assistance with, please do get in touch.

Get in touch with our experts

With hundreds of years’ worth of combined experience, our experts have dealt with nearly every leasehold property matter you can imagine. If you’re currently in need of legal support or advice, please get in touch.

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