The Board of WS Property Management Ltd, at its meeting on 8th April 2021, set our charges for 2021-2022.
Our Management Fee covers the cost of employing our staff (our Factoring Manager and pro rata the staff of the Housing Association who also resource the service) and our overheads (office running costs, stationery, postage etc.).
The Management Fee for residential properties from 1st April 2021 will be £37.87 per quarter. As VAT has to be applied for commercial owners, their management fee will be (inclusive of VAT) £45.44 per quarter. We set the fee using estimated running costs, and a comparison with local factors shows we are still very competitive (in 2020/2021 we were between 11% and 30% cheaper than other factors in the area).
Once competitively tendered, it is the insurance provider who sets our premiums based on claims history. Unlike other factors in the area, we do not charge an administration fee or take any commission on the insurance we provide. This year the insurers have set fees of
• For a residential property £63.89 for the full year
• For a commercial property £190.09 for the full year.
Insurance costs have taken a hike over the past couple of years, with one large local factor charging more than twice the WSPM premium, and it should be remembered that these premiums are considerably less than owners were paying three years ago when the residential premium was £128.99.
Our service charges are what the services cost to deliver. WSPM do not levy any administration charge on services. Charges are calculated over the whole estate – while some owners have more by way of landscaping, others will have more by way of close lighting, and by taking this whole estate approach we can keep staffing administration costs down.
This year there is an increase on all the costs of our services as we require to pay more for manpower, equipment and materials. As we had no close vote ‘no’ to the introduction of the comprehensive bulk uplift service we have introduced it across the Whiteinch & Scotstoun stock with the exception of the houses in the Edzell development, where the owners will have to use the Council’s service.
Please note that the 2020-21 charges were heavily discounted to reflect the suspension of services at the beginning of the Covid-19 lockdown.
All Properties Except the Houses in the Edzell Development
Gardens, grounds and the new bulk uplift service = £29.70 per quarter
Close cleaning = £21.93 per quarter
Common lighting maintenance & common electricity supply = £18.12 per quarter
Sub Total = £69.75 per quarter
Close cleaning discount for 7 weeks suspension January/February 2021 @ £1.69 per week = £2.95 per quarter
Total = £66.80 per quarter (cf. three years ago charges were £62.42/£75.10 for less service).
Land maintenance = £21.78 per quarter
Common lighting (no closes) = £9.06
Total = £30.84 per quarter (cf. three years ago £41.24)