We don’t charge any other fees whatsoever for arranging contractors. We have a procurement function whose role it is to source the best value contracts for customers through bulk tendering, but the cost of this function is included in our management fee. We believe this is unique in the industry.
If we do receive a commission on anything, we are transparent and declare it, in keeping with our codes of practice. For instance, sometimes we place insurance on behalf of the freeholder. When they do, FirstPort Insurance Services Limited takes a commission on arranging the insurance. This is something that is completely normal in the insurance industry. You can find information on any commission payments in the notes on your annual accounts.
We also have an open and transparent process for awarding contracts. When a formal tender process is necessary we invite at least three independent contractors (the only exceptions to this are out of hours monitoring and some fire systems and alarm installation works, where a FirstPort connected business may be invited to tender). Information about whether a FirstPort connected business has provided services at your development and earned a fee is disclosed in the annual service charge accounts.