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FORTIS ESTATE MANAGEMENT

FREQUENTLY ASKED QUESTIONS

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We hope our frequently asked questions cover any queries you may have, however if not, please get in contact and we will be happy to assist. 

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> WHO ARE FORTIS STUDENT LIVING?

If you are the leaseholder for a student apartment, the property is managed through Fortis Estate Management who, along with Fortis Lettings and Management, operate the brand Fortis Student Living.

Visit www.fortisstudentliving.com for more information.

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> WHO ARE FORTIS LETTINGS AND MANAGEMENT?

Fortis Lettings and Management are a student lettings and management company who, along with Fortis Estate Management, operate the brand Fortis Student Living.

landlords@fortislm.com

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> WHO ARE FORTIS RESIDENTIAL?

Fortis Residential are a residential lettings and management company. 

info@fortisresidentiallettings.com

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> WHAT IS A PROPERTY MANAGEMENT AGREEMENT (PMA)?

Your original Property Management Agreement (PMA) was confirmation of lettings terms, guaranteed rental values and service charge costs during the initial rental guarantee period.


Once your PMA expires, guaranteed terms within the agreement no longer apply. It will be necessary to replace the PMA with a Lettings & Management Agreement (LMA) if you wish for the aforementioned lettings companies to continue to let and manage your apartment.

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> WHAT IS SERVICE CHARGE?

Service charges are levied to recover costs incurred in providing services to a building, the terms of which are provided under the terms of the lease.

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> HOW DOES ANNUAL SERVICE CHARGE OPERATE FOR MY STUDENT APARTMENT?

Service charge is established on an annual cycle between the 1st September and 31st August and coincides with the student academic year. A budget is set before the start of each year and the 'on account' charges are established as quarterly payments (in advance) from this total budget.

If you would like further information on Service Charge, please email enquiries@fortis-em.com.

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> HOW DOES ANNUAL SERVICE CHARGE OPERATE FOR MY RESIDENTIAL APARTMENT?

Service charge is established on an annual cycle between 1st January to 31st December.

A budget is set before the start of each year and the 'on account' charges are established as quarterly payments (in advance) from this total budget.

If you would like further information on Service Charge, please email enquiries@fortis-em.com.

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> HOW IS SERVICE CHARGE SPLIT BETWEEN ALL APARTMENTS IN THE BUILDING?

It is apportioned based on either the floor area of each apartment, by equal division or relative rental values. The method of apportionment used is dictated by the lease and, therefore, changes for each property.

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> WHY HAS THE ANNUAL SERVICE CHARGE ESTIMATE INCREASED/DECREASED?

The service charge budget is calculated annually from the previous years’ actual costs, in addition to forecasting additional required services and/or any major works required.

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> HOW DO I PAY MY SERVICE CHARGE?

Formal Service charge demands will be issued in accordance with the lease to all leaseholders. If their unit is occupied and the apartment is let through Fortis Lettings and Management or Fortis Residential, this can be paid directly from the rental income. If there is no rental income, Fortis Estate Management will issue a demand.

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> WHAT IS A SINKING FUND?

A sinking fund is a provision made within each annual budget to set aside an amount for future repairs of replacements. The accumulation of a sinking fund is considered by ARMA (Association of Residential Managing Agents) and RICS (Royal Institution of Chartered Surveyors) to be ‘good estate management practice’.

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> WHAT HAPPENS WHEN MY APARTMENT NEEDS NEW FURNITURE?

Leaseholders are charged individually by their letting’s agent for any replacement furniture in their apartment.

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> WHAT HAPPENS IF EXPENSIVE WORKS ARE REQUIRED FOR THE BUILDING?

In the event that major works or emergency works are required and the sinking fund does not have sufficient funds, then there is a statutory mechanism under Section 20 of the Landlord and Tenant Act 1985, (as amended by the Commonhold and Leasehold Reform Act (CLRA) 2002), which allows a landlord to serve a series of notices on the investors (tenants) relating to the works and the costs of those works.

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> HOW IS MY APARTMENT LET?

Please contact your lettings agent for details on how your apartment is let.

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> WHEN DO I RECEIVE RENTAL INCOME FOR MY PROPERTY?

Please contact your lettings agent for details on when you are due to receive income.

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> HOW CAN I SELL MY UNIT?

Fortis Estate Management are unable to sell apartments on behalf of the leaseholder. Various sales agents are available in the market, and we can recommend names if necessary.

enquries@fortis-em.com

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> CAN I VISIT THE BUILDING AND VIEW MY APARTMENT?

Leaseholders are welcome to visit the building to meet with our site staff and view your apartment.

We prefer to arrange these visits during holiday periods to avoid disturbance to the students, as with all tenancies 24-hour notice to the tenant is required.

Please contact your lettings agent if you would like to visit your apartment.

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> ARE UTILITY BILLS INCLUDED IN SERVICE CHARGE BUDGET?

Utility bills are included in the service charge budget within all student properties, this may or may not be the case within residential properties.

Please get in touch if you wish to clarify whether or this is the case within your residential property.

enquiries@fortis-em.com

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> WHAT IS GROUND RENT?

All leasehold units will be charged ground rent by the freeholder, which may or may not be collected by Fortis Estate Management.

It is a condition of a leaseholder to pay ground rent and if not, the freeholder can forfeit their lease. Please note our Scottish buildings are not leasehold and, therefore, no ground rent is due.

If you would like details on who charges ground rent, please speak with a member of the Fortis Estate Management team. 

enquiries@fortis-em.com

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CONTACT US TODAY


TELEPHONE 

ADDRESS

EMAIL

+44 (0)161 924 3868

Fortis Estate Management

Bank House

Old Market Place

Altrincham

WA14 4PA

enquiries@fortisestatemanagement.com