Initiative Property Management: Elderly residents left housebound

The impact of Initiative Property Management ceasing training has had a widespread impact on people across the BCP area.

Since the company folded last Monday, the Daily Echo has been approached by scores of residents and property owners saying they have lost money.  

Alan Davison, a freeholder at a block of flats in Branksome, believes that between £45,000 and £55,000 could have been lost from an account with IPM. 

Ashton Court, Branksome (Image: Google Maps)

He thinks around £13,000 is owed to contractors for external painting and rendering work at Ashton Court where he lives. 

“But then there is the lift, which is a huge problem because it isn’t working,” the 69-year-old said. “It should have taken six weeks to fix and it’s now week 12. 

“The lift people haven’t been paid by IPM and despite our continued request to pay, it wasn’t acted upon. 

“It’s inconvenient; we are only four storeys high, but some residents are elderly and two I know of are housebound because of this. 

Read more: Initiative Property Management sparks economic crime investigation

“Their carers would take them out for walks in their wheelchairs but they can’t anymore because they can no longer get down. 

“I’m on the fourth floor and I can get down okay, but I struggle to come up because I have two medical conditions including a compression fracture of my lower spine and chronic fatigue syndrome.” 

Meanwhile, John Reynolds, a lawyer living in flats in Spencer Road, Bournemouth, estimates around £10,000 is in the hands of IPM. 

He said: “I have got damp coming in the building and it was set up to get the roof repaired. I have around £10,000 in the maintenance pot and I don’t know how the work is going to be paid for. 

“Our builder had prepared everything... the scaffolding was up, but we were waiting for him to be paid by Initiative, who had assured me it would be paid on Monday (September 18). 

IPM's office is locked (Image: Daily Echo)

“This is causing me a huge amount of hassle trying to get things sorted out and our freeholder is now having to pay for the insurance out of his late wife’s insurance money – that's a £2,500 bill.” 

IPM managed more than 2,000 properties across the BCP area and parts of the South.

Previously based in Branksome, it is now being investigated by the Dorset Police  Economic Crime Unit.

The Echo has made multiple attempts to contact one of the former managers, however, has had no response. 

Meanwhile, the whereabouts of director Steven Greaney is unknown.  

Anyone with information that could help the police investigation is urged to call 101 quoting Operation Interest or occurrence number 55230141924.