A Guide to Block Management3627358
Unfortunately, the property industry is awash with lots of technical jargon, which can confuse even the most intrepid flat owner. Nevertheless, it pays to know a little about these terms, as much more and more of us are turning to block management businesses in order to more effectively handle our blocks - but what exactly is "block management?"
Quite obviously a block management company will help residents to handle the entirely of their block. Numerous residents, understandably, might find the concept of handing more than the control of their block to a property company a small difficult to swallow however there are a lot of factors why a block management business could really save you time, difficulty and perhaps even a little cash.
It's worth contemplating the range of activities that go into the efficient management of a block of flats:
Rent and service charge should be collected: it can be tough collecting the ground rent and the right quantity of service charge in a block of flats. Let's face it, no-one wants to be the 1 to be the 1 who takes money out of their neighbour's pockets.
Sustaining a single home can be challenging, even for the keenest DIY enthusiast. So envision the difficulty involved in taking care of upkeep for a whole block of flats, managing internal and external repairs, hiring contractors etc cost successfully and with the agreement of all the other residents in your block.
Even with the very best will and intentions, living in close proximity with your neighbours can lead to all sorts of problems, whether or not they be emotional, financial, to do with the condition of yourblock. For instance, maybe your neighbours are noisy, have pets they are not supposed to (i.e. they are in breach of their lease) or they are causing a common nuisance.
Still feel like managing your block? Well luckily a block management company can handle all these activities and much more, no longer do residents have to go via a laborious decision process as to how a lot the service charge ought to be, or which contractors to hire, block management companies can help you with all of this.
Of course block management businesses price money, and with little regulation some managing agents ought to be avoided. With this in thoughts, in order to ensure that you select the right management company for block, look for guarantees such as "cheaper than managing agents or your money back.