We Currently Manage Over £2.5 Billion of Assets in the UK
Vine provides dedicated property management services through a network of 8 UK regional offices, supported by an accounts and credit control team based in Birmingham. We currently manage assets of £2.5bn+ extending to over 40.0 million square feet of retail, industrial and office property.
The management portfolio comprises over 5,800 individual units with an annual rent roll of £195m+ and service charge schemes of over £30m per annum.
Vine employs experienced property managers with the teams led by Senior Property Managers, the majority of which have over 20 years’ experience in commercial property management. Our network of regional offices ensures that our Property Managers are in close proximity to the individual assets. This provides greater control of assets together with a support network for Asset Managers.
The team understands the equal importance of both local hands on property management and strong financial control evidenced by 50% of Vines team being allocated to property accounting and credit control, headed by 3 qualified accountants.
Vine is regulated by the RICS and maintains £10m Professional Indemnity Insurance.
Vine Property Management specialises in the management of multi let industrial and office portfolios acting on behalf of a broad range of institutional and property company clients. Approximately 20% of assets under management comprise both single and multi let office investments.
The services provided by Vine are set out below:-
Rent, Service Charge, and Insurance Collection
- Issue demands and receipts for rent, service charge, insurance
- Daily banking of all rent receipts into either Vine Client Accounts or the clients own bank accounts.
- Daily banking all service charge into Vine Client Accounts
- Credit control of all monies demanded
- Provision of weekly electronic arrears update
- Regular arrears review with client asset manager
- Provision of in-house advice in relation to the recovery of arrears via enforcement agents under CRAR, solicitors, County Court Action etc.
Financial Control & Client Reporting
- Monthly Financial Reporting to client (Client Statement and VAT report)
- Monthly Reconciliation of Vine Client Accounts
- Bespoke Client Reporting
- Dealing with queries from client auditors
Service Charge Management
- Prepare annual budget for each service charge property (issued to tenants 1month in advance of year)
- Reconcile all service charge schemes (within 4 months of year-end)
- Place and oversee contracts for common parts services and payment of suppliers
- All invoices coded and available for authorisation by local property manager within 48 hours of receipt
Landlord’s Direct Costs
- Recommend contractors for non-recoverable works
- Prepare specifications and obtain competitive quotations
- Instruct and oversee landlord works – e.g. unit clearance & minor unit repairs
- Processing and payment of landlord’s non recoverable invoices (agent fees etc.) from rent monies held
- Monthly reporting of landlord’s expenditure
- Record keeping of all clients, properties and tenancies on our Property Management Database.
- Management of property data – Asbestos Registers, Operation Manuals, Electrical Test Certificates, Energy Performance Certificates etc.
- Client web access to Property Management Database and Legal Library of all leases.
- Regular monthly inspections of all multi- let properties by a dedicated property manager
- Property Management inspection reporting on a quarterly basis
Tenant Liaison & Management
- Main point of contact for all tenant issues
- Liaison with tenants on issues raised by Environmental reports and Property Insurers risk assessments
- Enforcement of tenant breaches – external storage, repairs
- Arrange property repairs (internal repairing leases)
- Advise on property management strategy for each asset and identify where improvements can be implemented
Employment of Site Staff (Vine On Site Ltd)
- Direct employment of site employees (caretakers, site managers etc.)
- Day to day management of site staff
- Maintain trade use records for all tenants, providing information to landlord’s property insurers.
- Manage all property insurance claims
- Prepare specifications, for insurance repair works and obtain competitive tenders
- Meet and liaise with loss adjusters
- Instruct and oversee insurance repair works
Void Property Management
- Hold keys for all vacant units
- Prepare all vacant units for winter
- Obtain statutory reports – Asbestos Registers, Energy Performance Certificates
- Inspections of vacant units on a fortnightly basis by a property inspector
- Take regular meter readings for all utilities, and update suppliers
Alienation & Alterations
- Gather all information required for subletting and assignments, present to the Asset Manager, and instruct solicitors.
- Gather all information required for tenant alterations and present to the Asset Manager.
Utility Management (Single Supply Sites)
- Calculate utility costs for tenants
- Issue monthly invoices
- Collect all utility charges
- Pay utility suppliers