One of the biggest requests from many of our customers (and their leaseholders who use our mobile app) was to provide more in-depth service charge information within the app. Residents and leaseholders wanted this information as the app has become the first port of call for matters relating to their building, and it was more convenient for them to be able to review this information via the mobile, rather than having to log into a seperate portal or to find paper versions of the documents.

For our clients, the impulse to provide this information was to standardise how financial information was shared across developments, and to ready themselves for incoming regulatory guidance related to providing service charge information to leaseholders.

Working hand in hand with clients and leaseholders, Ark is pleased to announce the launch of a new cutting-edge feature that allows property managers to provide this information to residents without creating additional headaches for their internal teams.

Using the information already stored in back-end financial systems or created in PDF versions of your service charge budgets and end-of-year accounts, Ark extracts this information, runs it through our bespoke AI engine and codifies it into categories provided within the TPI Service Charge Annual Index. It then aggregates this data, performs some calculations and connects up all the different line items, ready for viewing by leaseholders within the app.

On the app, leaseholders will have an interactive dashboard and graphs to make their service charge more understandable and relevant, with full breakdowns, run rates and yearly trends.

For more information, please reach out to us at noah@projectark.co.uk for a quick demonstration.

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