PPM Management Company Ltd

On this page: Overview » Responsibilities » Service Charge » General Regulations

Overview

The company is responsible for the overall management and upkeep of the building as stipulated within the lease. PPMMCL owns the freehold to the property and when you purchase a flat within the mansions you are issued with one share certificate. As a shareholder you are entitled to attend and vote at the Annual General Meeting and receive regular bulletins regarding the management of the building.

PPMMCL has been since November 2004 operating a self management model, which has comprised a number of sub groups undertaking key areas of work on a voluntary basis e.g. company secretary, finance and debt management, repairs and renewals and employee support. The purpose of the self-management arrangement is to reduce administration costs and to ensure that shareholders get best value for their service charge. New shareholders are welcome to join the board.

Princes Park Management Company Ltd is registered in England and Wales, Company number: 1768248

Responsibilities

The management company's key responsibilities are to ensure:

• There are effective financial management and service charge collection procedures in place.
• Compliance with company law, health and safety and current legislation requirements under the Commonhold and Leasehold Reform Act 2000.
• That essential repairs and an on going renewals programme is undertaken.
• Shareholder involvement and accountability.
• Effective utilisation of PPM assets.
• That there is consistent employee support and supervision.
• That shareholders concerns are dealt with in an efficient and professional manner.

Visit our Contact Us page for ways to contact PPMMCL.

Service Charge

Service charge payments are a condition of the lease and a must be paid to PPMMCL. Non-payment of service charge can result in forfeiture of your lease and PPMMCL can take ownership of you property. Service charge payments ensure that the company can provide an onsite caretaker service, building insurance, communal lighting and cleaning, grounds maintenance and undertake essential repairs and renewals programme which will contribute to enhancing the value of your property. Service charge levels are set each year by the board of management and approved by shareholders at the AGM.

Service charge rates for the year 2014/15 are as follows:

Payments can be made by cheque to:

Princes Park Mansions Company Ltd
c/o Blundellsands Properties Ltd
Byron Road
Crosby
Liverpool
L23 8TH

Alternatively, payments can be made by standing order - bank details are avaialabe to residents on request.

Note: Half year payments fall due on December 1st and June 1st and payment must be made with 14 days of these due dates or payments will be calculated as if payment was being on a monthly basis. Service charge arrears are subject to 12% interest fee, which will be added to your statement. Non-payment of service charge will result in legal action.

General Regulations

See the Regulations page.