Financing Your Development
PMC manages the financing of all its developmens by means of an annual estimated budget forecast based on historical expenditures. To help our customers we offer a substantial discount off the management fee element of the service charge to those customers who opt to pay by Direct Debit. A sample budget is presented in the accompanying downloads section to give you an indication of what this means.
By operating an approved budget system, regualar services such as Cleaning or Grounds Maintenance. Minor Works will be Authorised on the property on behalf of the clients provided there are sufficient funds in the maintenance budget to proceed. More significant expenditure is always presented to the clients for consultation before approval to start is given to the contractors.
Another method of advance financing development maintenance is through a managed contingency fund, sometimes know as a "sinking fund". A contingency fund is managed by the company on behalf of the clients enabling maintenance work to be planned. In all cases except for extreme emergencies competitive tendering is used to achieve best value for our clients.
Emergency repairs which by their nature may be expensive, are assessed by an Property Manager, who will determine whether it is absolutely necessary to engage the first available approved contractor to effect the repair, or whether waiting for quotations to do the work is preferable.