Peverel Retirement

About the Management Company

All of the Developments within the Retirement Homesearch property sales portfolio are managed by Peverel Retirement - the Country’s leading managing agent for retirement property.

The company prides itself on striking a fair and realistic balance between care and commercial considerations and, with more than 27 years experience in the retirement property management sector, its experience, professionalism and commitment to customer service is unrivalled within the industry.

Peverel Retirement is a member of the Association of Retirement Housing managers (ARHM) - the trade body for the industry - and operates in full compliance with the Government approved Code of Practice. As part of this compliance, the Company produces a comprehensive Purchaser Information Pack to assist your property purchase.

Developments are managed on behalf of the freeholder. Peverel Retirement is essentially responsible for employing the Development Manager, ensuring that the building and its grounds are well-maintained and overseeing the well-being of Residents.

A service charge is levied annually to cover all associated property maintenance and management costs and this is collected by Peverel Retirement. Here, the Company takes satisfaction in providing a raft of measures to reassure Residents that their home is in safe hands – for example, by maintaining separate bank accounts for the Development, so that all costs can be clearly identified. Indeed, transparency is at the heart of all of its dealings and annual accounts and budget meetings are convened with Residents to discuss service charges for the year ahead.

Development Manager

The majority of sites have a Development Manager, the majority of whom are on duty from 9 to 5pm Monday to Friday to ensure that all services and facilities at the Development run smoothly; they also oversee the well-being of residents and assist them with any queries they might have regarding the scheme.

The Area Manager - Regular visits

Every development has its own Area Manager who will visit on a regular basis. The Area Manager works with the Development Manager to ensure the efficient maintenance and running of the Development. He/she is also responsible for the preparation and presentation of the accounts and helping to resolve Residents’ queries or concerns.

The Service Charge

As a resident of a Peverel managed retirement development, you pay a service charge. The charge will vary, depending on what facilities you have at your development. However, a typical service charge will cover your House Manager's salary, emergency monitoring, cleaning of common areas, gardening and buildings insurance. The charge will also pay for servicing of equipment and for the repair and maintenance of common areas and the outside of the building. Water and sewage charges may also be included.

Budgets and Accounts

At Peverel we understand the need for strict budgeting and financial accountability. A detailed budget is drawn up at the beginning of each year and is formally presented to residents by way of an open meeting. At year end, a set of independently audited accounts are drawn up and a copy given to each resident. All bills, receipts and invoices relating to these accounts are available for inspection, thus giving complete financial transparency.

Consultation

Since Residents pay for their services, they have the right to be consulted on certain items of service charge expenditure. For instance, when major repairs or extensive redecorations are carried out, Peverel will enter into formal consultation with them. Any major changes to the service are subject to a formal balloting process using an independent scrutiniser.

Contingency Fund

Every building will at some point require redecoration, or perhaps a major repair which will be more costly than regular maintenance. To avoid any unnecessary surprises, we place part of the service charge in a separate account called the contingency, redecoration or reserve fund. This exists to take care of any long term expenditure at the development, such as redecoration of the communal parts of the building, equipment replacement and major repair and strives to ensure that there are no requirements for sudden large expenditure.

Protecting Residents’ Money - Designated Trust Fund

As a resident you will want to know where your money is held and how it is being used. Because we do everything we can to protect our residents' interests, we hold all service charge monies in a designated development account with all interest accrued to that account. We provide detailed accounts for all service charge expenditure and produce receipts for inspection by residents annually.

Residents' Associations

At Peverel we encourage the formation of well-run and democratic Residents' Associations. We feel these can be an asset to the development and a good channel of communication with residents.

Further information on the formation of Residents Associations is available from:

The Administration Centre

Peverel Retirement

11 Centre Court

Vine Lane

Halesowen

West Midlands B63 3EB

Tel: 0121 550 5680

Email: enquiries@peverelmanagement.co.uk