Case Study: The Exchange, Croydon
Client: The Exchange RTM Company
Location: Croydon, South London
Property Type: Residential Block (66 units)
Executive summary
As leading property management experts in Croydon, MY Facilities Management is transforming The Exchange in Croydon by providing proactive and professional block management services. This case study demonstrates how our proactive approach achieved significant service charge reductions while improving building management quality.
Background
The Exchange, a 66-unit residential block in Croydon, faced ongoing challenges with high service charges and inadequate management from their previous property management company. Residents expressed frustration over the lack of communication, delayed maintenance responses, and insufficient upkeep of communal areas.
Property Management Challenges
The Exchange, a prominent residential development in South London, faced escalating service charges and maintenance issues. As specialist block management providers in Croydon, we were tasked with:
Optimising building management costs
Improving maintenance response times
Improving safety & security and ensuring compliance with a fire authority enforcement notice
Managing the delivery of a multi-million pound cladding remediation programme
Enhancing resident satisfaction
Our Management Solution
Our comprehensive property management approach included:
Professional Building Management Services
Implementation of 24/7 emergency response system
Streamlined maintenance procedures
Developing local contractor partnerships in Croydon
Service Charge Optimization
Detailed cost analysis
Strategic vendor negotiations
Transparent financial reporting
Upon engaging MY Facilities Management, we implemented a comprehensive block management strategy tailored to the specific needs of The Exchange. Our first priority was to reduce the risk to occupants and resolve all issues raised in the LFB enforcement notice. Thereafter our focus was:
Measurable Results
In our first year managing the building our achievements included:
✓ An 11.5% service charge reduction
✓ Saved £100k on fire safety work
✓ Maintained 100% resident satisfaction
✓ Established efficient local property management systems
✓ Secured a £100k discount on an unpaid utility bill
✓ Achieved full compliance with an LFB enforcement notice
✓ A Fire Safety Audit found the building to be “well managed”
✓ Installed CCTV throughout the common parts of the building
Conclusion
In just one year managing The Exchange in Croydon, MY Facilities Management focused on essential services and resolving legacy issues. We laid the foundations for open communication, lower costs and delivering better building management services in the future.
In the coming year we will focus on enhancing the aesthetics of the block with proactive maintenance, decorating and an enhanced cleaning regime while further reducing service charges.
By addressing the critical issues faced by residents and implementing effective management strategies. Our proactive approach, commitment to transparency, and dedication to resident satisfaction have set a new standard for block management in South London.
Are you looking for similar results for your property in Croydon or South London? Contact MY Facilities Management for a free consultation.