trustworthy and approachable
Our staff are trustworthy and approachable specialists for whom strong relationships and providing excellent service really matter. We are proud that Caxtons’ brand is synonymous with good quality property expertise, best practice and a warm, personal approach, whilst we are not afraid to go that extra mile to ensure a job is done properly. This shows through our long-standing clients, repeat business and the recommendations and testimonials we receive.
To keep apace of advice from sector bodies and best practice, Caxtons is a member of:
- Royal Institution of Chartered Surveyors (RICS)
- Association of Residential Letting Agents (ARLA)
- Association of Residential Managing Agents (ARMA)
- Tenancy Deposit Scheme (TDS)
- National Approved Letting Scheme (NALS)
- UK Landlord Accreditation Partnership
- London Landlord Accreditation Scheme
Caxtons is also regulated by the Financial Conduct Authority (FCA).
As a member of RICS and ARLA, Caxtons is bound by strict client accounting regulations, rules of ethical conduct and codes of practice, ensuring:
- Our accounting and other records are regularly audited for compliance
- Our clients’ funds are fully protected at all times through the RICS Client Money Protection Scheme
For advice and more information please get in touch with the commercial property management team who will be happy to discuss your requirements.
looking for something else...
A longstanding Caxtons’ client acquired a new property investment in the Kent coastal town of Deal, which presented them with an attractive return from a mixed use commercial building, let to a mix of national and local tenants, situated in a prime positon in the town centre.
The former owner of the building had long neglected the repair and maintenance of the property, leaving it in need of a comprehensive restoration programme.
Many of the tenants were aggrieved by the condition of the building, as it had begun to impact on their
premises internally, and also created a negative image for their businesses. Our client was also concerned about the longer-term damage being caused by the continued neglect, including the impact on the reversionary value of their asset.
Having been appointed to deal with the management of the property, with our client’s agreement we immediately instructed a building surveyor from a trusted local firm to prepare a schedule of the remedial works needed to bring the property into full repair.
We carefully reviewed each of the tenant’s leases to ascertain our client’s liability for repair of the common parts and the structure of the building, and also their ability to recover the cost of this. Whilst we noted that there was a provision for a service charge, which would allow us to recover the costs from tenants, we also noted that some of them had capped service charge contributions meaning they were only obliged to pay a limited amount each year.
We consulted with the tenants about the extent and cost of the works required, which were likely to exceed their normal service charge contributions and were going to need to be demanded from them as interim or balancing charges. The tenants expressed concern that this could impact their cash flow.
To overcome this difficulty we worked closely with the building surveyor to devise a programme of works to the building, which would be undertaken in two phases: phase one included immediate, urgent works required, to prevent further deterioration of the building; and phase two dealt with non-urgent, but still essential work such as redecoration. The phases were scheduled to be undertaken across two separate service charge years so that all costs could be recovered, to prevent each phase individually exceeding the caps on the tenants’ service charge contributions.
We had successfully devised and managed a significant programme of remedial works which prevented further deterioration to the property and impact on the tenants’ businesses, addressing urgent works immediately, and those less pressing at the next available opportunity.
This satisfied our client’s requirement to preserve the capital value of their investment and ensure their tenants were appeased, whilst still being able to
recover 100% of the cost of the works. It also meant the tenants were provided with significantly improved business conditions, with minimal impact on their cash flow.
The improved condition of the building brought the added benefit of making it less of an insurance risk and Caxtons’ Insurance department were able to secure wide ranging insurance cover at the most competitively priced premium, bringing further cost savings to the tenants.
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