This workshop explores the strategic and legal considerations behind Reserve Funds in leasehold blocks. Participants will learn when to collect, how to calculate, and how to manage disputes or Tribunal challenges.
Presenter
Lisa Warren
Associate Director (Property Services & Finance) at Residential Management Group FIRPM AssocRICS
Lisa has over 17 years’ experience in the residential sector of block management and is an Associate Director for Client Finances within a nationwide property management firm, RMG. She is a Director of TPI and chairs our Technical Committee that is responsible for delivering guidance and advice to both TPI members and other stakeholders.
Neil Maloney (FRICS/FTPI)
Neil has a wealth of experience and has worked in property management for over 30 years. He has been a Fellow of the Royal Institution of Chartered Surveyors (RICS) since its amalgamation with the Incorporated Society of Valuers and Auctioneers (ISVA) back in 2000, as well as holding a Fellowship of The Property Institute. His dedication and expertise are things that his clients continue to trust year after year.
What You'll Learn
- 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.
Who Should Attend?
- Property managers advising clients financially
- Lettings staff transitioning to block management
Delivery Format
Online: One 4 hour session
Level / Qualification Mapping
General Level:
Beginners / Refresher
TPI Qualification Mapping:
The learning outcomes in this course would be helpful for those taking their Level 3 Qualification, especially in reference to Module 6 "Reserve Funds"
Fees
| Membership level | Price |
|---|---|
| Members | £60.00 |
| Non Members | £100.00 |