The
What are we looking for?
BlockAwards seeks to champion blocks that are, on balance, worth more than others because they are well run. Our awards are always 'honest, fair and scientific' because that is what is important.
We evaluate what matters to owners who know that, compared to other nearby blocks that are not so well run, their property is worth more . Achieving a 'BlockAward' sends a clear message to potential purchasers that your block has been independently and robustly assessed against a whole range of indicators. So, like a food label that tells you the sugar content, our BlockAwards give a health check against what matters most.
To achieve any level of BlockAward is a huge achievement, as it means that your block has its affairs in order and is organised enough to apply. Our awards also help blocks that could sharpen their management practices to get zoom focus on what can be done to improve. This is why we take the time to put together and issue all entrants an Advice Note o advise them on the areas where improvement can be made
Accounts
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Service charge accounting year end matches the lease
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Clean balance sheet
- no hidden money owed
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Owners arrears below industry average (below 4%)
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Balancing charges applied
(accounting surpluses / deficits up to date)
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Section 20B Notice served
(if the accounts are late)
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RTM costs separated from service charges
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Intercompany loans not addressed
Insurance
- Water damage excess = £0
- Subsidence excess <= £1,000
- Building sum insured reasonable for type of build
- Premium reasonable based on given build cost
- Disclosed insurance commissions reasonable
A Good Lease
- Service charges collectable in advance
- With a reserve fund
- Collection adds up to 100%
- Interest Clause: to deter non-payment
BUILDING MANAGEMENT & BUILDING SAFETY
- It has been established that the building is over/under 11 metres, or over/under 18 metres
- Fire door inspections (if necessary) have been commissioned
- For buildings over 18 metres whether the Building Height regulations applied and the route map deduced and progress made
- EWS1 obtained if necessary
- Developer defects covered by either:
- The Self Remediation Contract' in Wales, or
- the 'Developer Remediation Contract' in England
- PAS9980 carried out
- Defective Premises Claim Act 1972 made
- (holds developer to account retrospectively for 30 years i.e., from 1992 and 15 years from 2022)
Service Charges
- Reasonable compared to national averages
- Well managed = costs within 10% of budget
- Any reserves are reasonable, given likely next works due
- A Planned Preventative Maintenance ‘PPM’ plan is in place
This page is dedicated to Blocks of Flats that have achieved a BlockAward. Each BlockAward signifies that a blocks is better run and safer to buy than other blocks which cannot achieve the discerning standards we set.
The judges carry out a practical and financial healthcheck of the key factors that will protect a block from running into difficulties, e.g., the leases need to add up to 100%, allows a reserve plan, and the service charge accounts must be in compliant form, balance sheets healthy, i.e., with no 'other debtors', and low arrears and insurance premiums need to be reasonable with no nasty excesses and overall service charge levels below the annual average.