We’re committed to Financial Transparency for your Peace of Mind

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“At Common Ground, we provide resident management company directors and freeholder with 24/7 access to our online accounts system, giving full inspection of the accounts at any time so there are no surprises at the end of the year. Are you fed up with a lack of information and transparency?”

We use Xero online accounting software where its reporting tools can be easily used and interpreted by a non-accountant providing the following:

Up to date bank balances
Each Common Ground client has their own bank account which is separate and identifiable from Common Ground (meaning your money is protected). It’s linked into the Xero accounts system so our clients can check the bank balance of their estate in real time.

Profit and loss reports
Clients can view all invoiced service charge income and expenses of their estate in real time. All the figures in the profit and loss reports are presented in the form of hyperlinks which allow further interrogation of the system by drilling down to individual transactions.

Aged debtors and creditors
These reports allow directors to ensure that all service charges are being collected in a timely manner and that contractors are paid on time too.

Budgeting

Common Ground prepares annual budgets for all its clients and these are reviewed and agreed with directors prior to production of service charge invoices.

In preparing budgets, we look at both anticipated expenditure in the coming twelve months and major projects (e.g. internal and external redecoration) that we might expect in the coming years or which are defined in the leases. We aim to produce annual budgets that are consistent, allow lessees to plan their finances and take into account the need to accrue reserves for major expenditure.

Year end accounts

Common Ground will arrange preparation of year end accounts including submission of accounts to Companies House (along with all other company secretarial duties). We typically provide our clients the following options:

Common Ground employs several in-house accountants and can prepare all year end accounts

For clients who would like an independent set of eyes to review and prepare the year end accounts, we can recommend a number of independent accountants with the requisite knowledge of the landlord and tenants act 1985

For clients who would like a further level of independence, we are happy to prepare the management books to enable your own choice of accountant to carry out the year end procedures

If you are interested in finding out more please contact us for a free site visit and appraisal.

“Having experienced a block managing agent that seemed to have no control over spending, it’s refreshing to work with a managing agent that is 100% transparent. Their portal system enables tracking of maintenance tasks, and their use of the Xero accounts system means that directors can keep track of all expenditure. Highly recommended.

Daniel

I very highly recommend Common Ground. Their conscientious team is highly professional, experienced and efficient, which is extremely reassuring to Directors and responsible owners of properties. They are pro-active, helping to plan ahead and to anticipate problems, which they can deal with firmly but sensitively. They are a pleasure to work with.

Clive

We moved to Common Ground from one of the large national agents. The list of maintenance items that required attention was growing longer and longer as we were moved from one property manager to the next. Common Ground stood out from the day the MD came to assess the site and fixed two of the outstanding maintenance items during that visit.

Common Ground worked through the maintenance items which we were able to track through their portal system. It’s also been a pleasure to have the same property manager and accountant throughout. The continuity is important, so it is good to work with an agent that retains its staff.

Hila

Our relatively small development was rescued by Common Ground after a disastrous initial situation caused by the inefficiency of the managing agents appointed by the developer. After examining the situation Common Ground came up with a first rate transparent management system which gave directors full and instant access to accounts and other matters, such as legal advice and rights of leaseholders. They make managing easy for directors and attend to everyday problems promptly.

Eddie