How our relationship with OM works

Our estate manager OM Property Management is part of a larger group of companies called the Peverel Group. Most of the properties on our development are leasehold and the freehold is owned by another subsidiary of the Peverel Group. The freehold owner has ultimate control over the running and maintenance of the development. They have appointed OM Property Management to carry out this duty on a day-to-day basis. OM Property Management charge leaseholders an annual Service Charge in order to maintain the development.

The owners of the freehold properties on Wren Way also pay a service charge to OM because they benefit, albeit to a lesser extent, from some communal facilities.

On an annual basis the leaseholders pay OM approximately £28,000 (as of 2011-12). This, we are sure you will agree, is not an insignificant amount of money. In addition, a large proportion of this sum is taken by OM solely for the purpose of ‘managing’. In light of this the Residents’ Association was formed to keep a close eye on the way OM spends this money. The Association wants to ensure that we receive value for money and good service.

The Bicester Parkland View Residents’ Association is formally recognised by OM Property Management as acting on behalf of the residents of Parkland Place and Wren Way in accordance with Section 29 of the Landlord and Tenant Act 1985.

OM Property Management has overall control of the day-to-day running of the development. However, we feel that it is essential that the owners and residents represented by the association understand that due to our existence we are able to exert a significant influence over how OM spend the money we pay them or even, if it is spent at all.

The Association has a democratically elected Committee that has direct contact with the Property Manager. We are provided with monthly expenditure reports and a weekly update on progress of all maintenance activity. We also insist on three quotations for any proposed work. The Committee also decides on what work needs to be done and when.

It should also be noted that if necessary we have the right to purchase the freehold and/or replace OM with a management company of our choice. This issue is reviewed regularly by the Committee based on the performance of OM and the service we receive.

It should be clear from the above that the Association plays a major role in how your money is spent. We are sure that you care about where your Service Charge is going and by joining the Association and getting involved you, as an individual, can have greater influence over our activities.

To get more involved please contact a member of the Committee.