JLL Residential

Joint Fixed Charge Receivers at CBRE

CBRE - Landmaster

Project: Portfolio of circa 170 residential units throughout London
Client: Joint Fixed Charge Receivers at CBRE
Date: 2017

Situation

JLL were appointed to oversee a diverse portfolio of circa 170 residential units of varied condition throughout the UK. The units were let on Assured Shorthold Tenancies, and were being managed by 12 separate sub-agents. Our residential management team were instructed to manage all units on behalf of Joint Fixed Charge Receivers at CBRE , providing a rationalised service and single point of contact for maintenance and tenancy issues.

Brief

  • Provide a rationalised and national service for 170 residential units from instruction.
  • Run a ‘risks and opportunities’ task looking at ways of maximising income with refurbishments and minimise risk by ensuring statutory compliance.
  • Establish the validity of tenancies in place and deal with historic arrears. 
  • Risk management of void units, ensuring vacant insurance requirements adhered to.
  • Collecting deposits from the sub-agents ensuring these were registered correctly.

Outcome

  • Due to a lack of information available extensive efforts were required to identify the legitimacy of the tenancies in place and subsequently whether there were any rent arrears.
  • A ‘risks and opportunities’ analysis was completed and a recommendation provided to the client outlining projected expenditure for statutory compliance and potential income at rent review stage.
  • A fully rationalised service was provided to the Client with one point of contact for both lettings and management services.
  • We were able to assist with the sale of many of the properties by ensuring tenancy paperwork was accurate.