Over the last five years Brady Solicitors have worked in partnership with a managing agent client in North London, responsible for over 40 developments, some of which contain as many as 600 apartments.
When we first began working together in 2018 there were a number of ways in which our clients’ credit control procedure could be improved upon to make it more efficient and robust. They were also looking for a specialist leasehold solicitors to support them with any further legal matters that came up regarding their developments, which is what led them to choose Bradys.
What do the last 5 years look like?
We’d be lying if we said the last five years have been smooth sailing, as after all, we did need to navigate a global pandemic during this time. However, whilst working together we’ve been able to advise them on what stance to take with leaseholders during the pandemic that was both fair and avoided cash flow problems. We’ve developed a tailored credit control process for each of their developments, which has led to a significant drop off in their overall debt. Additionally, we’ve assisted them with a number of other matters such as a breach of lease, fire safety advice, FTT support, lease reviews and management agreement reviews to name a few.
What does the partnership look like now?
Over the years we’ve adapted the way in which we work together to make it as efficient as possible. This has led to us using a dedicated portal for them to inform us of instructions to proceed with, which is extremely quick and easy to use. This provides us with all the information we need, in a predictable format 3 to 4 times a year. Our client also benefits from monthly reporting (which all our clients receive), as well as a dedicated account manager, who has monthly review calls with them to ensure they’re up to date on all ongoing projects and who is also available for ad hoc calls, should they have any questions.
“Working with Brady Solicitors has enabled us to further tailor our credit control processes to each of our developments and the leaseholders living within them. This has meant that our overall level of debt has decreased and has enabled us to ensure we maintain a steady and predictable maintenance budget. Partnering with Bradys has also meant we have someone to go to should we ever have any queries of a legal nature but also a sounding board for good building and service charge management. We know that we can raise any issue with our Client Relationship Manager good or bad and something will be done. The relationship is brave, positive, delivers results we need and ultimately helps us offer a better property management experience.”