Rendall and Rittner – 16 x contract inflation on cladding remediation and 27% commission?
An article in the Sunday Telegraph details claims that freeholders and managing agents, including Rendall and Rittner, are alleged to be making unjustifiable commissions and inflated quotes:
One example given relates to No 1 West India Quay in London which
“had two panels of Grenfell-style ACM (aluminium composite material) cladding. Initially, a contractor quoted £2,790 to remove them. The building’s managing agents, Rendall & Rittner, applied to the Government’s ACM fund to pay for the work – but for an amount 16 times higher than the first quote. In total the ACM remediation fund granted No 1 West India Quay £44,654 to replace the panels. Of this, £12,120 was a fee paid to Rendall & Rittner.”
The commission of £12,120 on a total remediation fund claim of £44,654 amounts to 27%!
See also https://chelseabridgewharf.org.uk/2021/04/09/rendall-and-rittner-stand-to-make-20-40-million-from-contracts-around-cladding-remedial-work/
Rendall and Rittner said in June 2020 that they welcomed the launch of the Government’s £1 billion Building Safety Fund for cladding remediation – I think I understand why!