What a difference a Managing Agent makes.
The chart below shows the service charges for one of the Apartments at Charter Quay. It is a tale of wild fluctuations and from the point at which agents CEM took control in 2007 until mid 2009, out of control costs. The court appointed managing agents, HML Andertons, took control in mid 2009 at which point cost savings and proper financial management were implemented. It is not possible to project what would have happened had Peverel / CEM been left in charge.
More data analysis to come.
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- 2001 - 2006 Peverel
- 2007 - August 2009 CEM
- 2009 - current HML Andertons
Data analysis footnote:
1 Service charges are based upon an initial budget and a supplementary charge / repayment when the years accounts are closed. The appropriate adjustments have been made to the above figures in order to produce real year charges. At this time (Feb 2013) the 2012 figures have not been finalised, 2013 is the estimated charge.
2 CQ residents have recovered money from the Landlord for the periods 2003 to mid 2009. Although the sums are substantial, they have not been factored into the above figures. Partly because it would be very difficult to calculate which years they would impact but mostly because this chart is designed to show the effectiveness of managing agents. To show what they chose to do and not what a court subsequently forced them to do.