Recovering £715,000 for Aviva through historic arrears To investigate outstanding tenant debt as at the commencement of the contract and recover as much as possible for the client
- Location Nationwide
- Key figures 200 properties with 150 tenants under management on a nationwide basis
- Contact Anne-Marie Renny, +44 (0)20 7338 4486
- Aviva had £715,000 returned to them in historic arrears collection in 2010.
- This allowed Aviva to re-invest the money recovered back in to the business
- The previous incumbent had not put a strategy in place for collecting historic arrears from tenants. Aviva needed a team to put in a formal collection process and collect the arrears they were due. Aviva did not have the in house capability to chase down these arrears.
What we did
- Our dedicated Credit Control team focussed upon tenants arrears.
- Agreed with Aviva a strategy and timeline for recovering the arrears.
- Instigated a regular reporting regime so that Aviva could see the progress we were making.
- Enhanced the service charge reconciliation processes.
- Chased down outstanding invoices so we could reconcile service charges and re-charge outstanding sums to tenants.
- Historic service charges were also reconciled and outstanding rentals were vigorously pursued and collected.
- We have put a process in place for further analysis and reporting of VAT to the Aviva team and ensure delivery of service charge year ends to their set timetable.