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Case studies

Faraday provides a comprehensive service to managed residential buildings. Whilst client needs and requirements may differ, we seek to provide a high standard of service provision, and where achievable, implement suitable improvements with cost savings. Please see below a few case study examples supported by client testimonials:
 

Examples

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Insurance

When Faraday became responsible for the management of Wynnstay Gardens, one immediate requirement agreed with the client was the need to demonstrate that clear value for money was being provided for all services/facilities into the future. One such service included the arrangement and payment of buildings’ and terrorism insurance for their property.

As per standard practice, Faraday not only arranged for independent brokers to carry out a detailed market exercise over a range of underwriters to obtain competitive and comprehensive buildings’ insurance quotes, but we also tabled those quotes to the client well in advance of any renewal date.

This enabled the client to consider the quotes and cover terms at their own leisure, and make an informed decision regarding not only the degree of annual insurance cover required (including any excess thresholds) but also the level of any associated premium charges payable.

In this instance, Faraday not only reduced the premium charges by 18.5% from their existing level, but ensured there were no detrimental effects or changes to the current level of cover provided. Moreover, Faraday was able to agree via FCA registered brokers to maintain unaffected terms, both on cover and price, at the point of renewal the following year.

Client’s comments:
“On renewal of our buildings insurance, Faraday Property Management Ltd. was able to obtain a £15,000 less alternative quote through one of their specialist brokers and a main insurer. There was also no increase in the premium on renewal in the following year”
Chairman, Wynnstay Gardens Residents Management Ltd.

 
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