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Case study

Cutting costs without cutting quality

1

The challenge

We were contacted to assist with the day to day running of an LPA Receivership portfolio. The portfolio was constantly dealing with new instructions and disposals. One of the biggest issues was maintenance spend and high arrears, as the landlord had allowed the properties to deteriorate into a state of disrepair.

2

The method

Internal maintenance mandates and check points were implemented so contractor quotes would require authorisation. The team oversaw more than 500 exit strategies, which involved a six month review. Recommendation was presented per property with rent, capital values, and pay back periods. We also created a bespoke portal to allow an overview of their portfolio.

3

The outcome

Maintenance costs dropped by 25%+, meaning the strategy of a lot of properties changed from a sell to a hold and let, thus increasing monthly income and reducing debt. This allowed both ACCS and the client to outperform our competitor, based on rent collection, arrears, voids and maintenance spend.

I’ve found ACCS provide an excellent professional, yet personal service. They have a wealth of experience in dealing with lenders, banks and building societies. They have been invaluable in driving performance of residential assets, ensuring the maximum income is achieved whilst adhering to stringent audit requirements. It is reassuring to know that they can handle complex issues in a sensitive manner, especially when dealing with difficult borrowers”.

Anthony Salata, Avison Young. August 2017

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