The client was signing a new lease and we were instructed to audit the existing lease that was due to expire and review the completion statement.

Challenge

To reconcile the client’s ledger with the Managing Agent system.

Constraints

The client’s system was not accurate and had transactions that were unreconciled against historic payments.

Resolution

We worked with the Managing Agents to explain our client’s rights to the benefits that were legally due to them on assignment of the tenancy.

Result

We worked with the managing agent’s completion statement of the previous lease and reconciled the client’s system resulting in credit notes totalling £68,000 that the client was unaware was due to them.