Case study
The Exchange, Croydon
A 66-flat block with high service charges, an open fire enforcement notice and residents who had stopped expecting answers.
- Client
- The Exchange RTM Company
- Building
- 66 flats, Croydon
- Managed since
- 2024
The starting point
The RTM company appointed us after years of frustration with the previous managing agent. Residents described slow communication, delayed repairs and poorly kept communal areas, while service charges kept rising.
There was also a London Fire Brigade enforcement notice to resolve, and a multi-million-pound cladding remediation programme to deliver.
What we did first
Our first priority was reducing the risk to residents and closing every item on the enforcement notice. Then we turned to the running of the building:
- a 24/7 emergency response for residents
- a detailed analysis of every cost line, and retendering of contracts
- local contractors who could respond quickly
- clear financial reporting to the directors
First-year results
What changed
- 11.5% lower service chargein the first year of our management
- £100k saved on fire safety workson the building’s fire safety programme
- £100k discount on an unpaid utility billon a legacy debt inherited from before our appointment
- London Fire Brigade enforcement notice resolvedevery item addressed and signed off
- Fire safety audit: “well managed”the finding of a subsequent fire safety audit
- CCTV across the common partsinstalled to improve safety and security
- 24/7 emergency responseset up for residents from the start
- Local contractor networkfaster response times for routine repairs
Cladding remediation
We coordinate the building’s cladding remediation programme, worth more than £10 million and funded through the Building Safety Fund. That means working with specialist contractors, professional advisers and the fund, and keeping residents informed throughout.
Genuinely good and professional service provided to our building, a massive step change compared to the previous management company.
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