KMPM's Block Management Service
KMPM was established in February 2007 to specialise in Property and Block Management. Since that date it has grown from strength to strength and currently has 700 properties which it manages within Limerick City and Suburbs and 10 Block Management Companies both commercial and residential and varying in size from large to small companies.
The directors of KMPM are Kersten Mehl who is a member of the Institute of Valuers and has over thirty years' experience both in managing and selling property in Limerick and Susanne Moloney who is a member of the Institute of Chartered Certified Accountants and had sixteen years' experience working as Financial Controller to both Irish and Multinational Companies before she started with KMPM in February 2007. KMPM employs another 5 staff all with third level qualifications with Susanne being the main point of contact for the directors and members of block management companies.
Susanne approaches block management companies like a Financial Controller and looks at every item of expenditure within the company to ascertain that it is bringing adequate service and value and in this regard she has a proven track record of reducing costs in every block company she manages.
All invoices are checked before being paid so a proper approvals process is in place. KMPM can also bring cost savings through economies of scale as they deal in volume with many service providers to block management companies eg Waste Disposal, Fire Alarm Maintenance, Insurance, Key Holding Companies, Cleaning, Lift Maintenance, Electrical and Plumbing Repairs Etc. There is also a large pool of contractors they hire and as a result there is never a problem KMPM cannot resolve.
In addition the staff of KMPM has the educational background to deal with legal problems and are constantly being up skilled and trained to deal with new legislation as it is enacted. In this regard Susanne has full knowledge of Company Law, Fire Regulations, Taxation, Auditing Standards and the recent Multi Unit Development Act and can advise directors of block management companies as well as enforce these laws while carrying out her duties as Managing Agent.
Due to her knowledge of company Law Susanne usually includes with the managing agents duties the role of Company Secretary and there are cost savings involved in this as there are no additional costs for this service whereas auditors usually charge €500 + Vat Per Annum for the service. This includes calling AGM's, General Meetings within requirements of the MUD legislation, Directors Meetings, documenting and filing minutes, keeping company registers and filing any CRO forms as required.
KMPM have an IT system specifically programmed for Block Management, this enables accounts to be reconciled monthly, reports printed and statements sent for service charges due, this results in savings in auditors fees as the file is presented with the minimal audit work required.
KMPM values communication as key and there is full transparency to the members and directors at all times. Budgets are set and approved as per MUD legislation, insurance valuations disclosed, fire precautions demonstrated and any accounts queries answered by back up documentations at general meetings. In addition any exceptional expenditure is approved by directors before being carried out and quotes from different suppliers given. KMPM are the managing agents but the control of the company lies with the directors while they are in office.