This one-day practical workshop (Or two 3 hour sessions over 2 days when run online) is intended to explore the liability for providing a reserve fund in residential management and the rules governing its accumulation and use. You should attend this course if you are responsible for advising clients on whether or not to use reserve funds and for the calculation behind their accumulation.
Course Contents
What you will get out of it:
- What is a Reserve Fund and what is the difference between it and a Sinking Fund
- When is it a requirement to provide for a Reserve Fund and why it is a good idea
- Requirements for calculation of a Reserve Fund; what you should include and why
- Looking at elements of building construction influencing a Reserve Fund calculation
- Life expectancies of building elements
- What time scale should be adopted for its calculation
- Use of the Tribunal when there is no liability for accumulation for the landlord to rely on
- Lessee disputes and resistance to Reserve Funds
- Consequences for landlord for “non-compliance” to obligations
- Accounting for Reserve Funds
- Use of Reserve Funds and how this impacted the “certified expenditure” in year-end accounting
- “Loans” from Reserve Funds and how to account and repay.
Intended For
Who should attend:
- Property managers who will be required to work with clients in a financial capacity.
This course would also be suitable for those in lettings moving into residential leasehold management.
Fees
| Membership level | Price |
|---|---|
| Members | £100.00 |
| Non Members | £175.00 |