Property management companies have to navigate complex regulations, anti-money laundering rules, cash flow issues as well as managing demanding landlords and tenants. Its not an easy business.
Here’s how we helped our client set up in the UK and lessons learned along the way.
Challenges our client faced
- No systems to check for compliance
- No process for admin
- Documentation and contracts were haphazard
- Vendor selection and management was ‘off-the-cuff’
Solution
- Creating a compliance role within the firm.
- Streamlining documentation and contracts, producing a range of ‘off the shelf’ templates that could easily be adopted for tenants and landlords.
- Drafting legal documents and templates with legal assistance from within our network.
- Generating cash flow forecasts to identify potential issues and making sure the company wouldn’t face any liquidity issues.
- Ensuring facilities were in place with banks and sponsors to give access to cash when needed.
- Forming policies for requesting, receiving and reviewing vendor proposals on key suppliers.
End result
This was six-month project from start to finish, at the end of which our client had a functioning operation with established processes and a scalable platform from which to grow.
