Property management and property Block Management London agents can provide professional advice and guidance on multi-story, multi-unit residential and commercial properties. A professional management agent is flexible in terms and can manage you fully or assist you in managing your freehold or leasehold property.
A good property management specialist will have expertise in all aspects of multifamily and multifamily property management and should also have a demonstrated track record of qualifications and compliance.
Block management agents
In particular, preference should be given to those Block Management Agents that are regulated by RICS. RICS is the Royal Institution of Chartered Surveyors, which is at the forefront of regulating this sector.
ARMA (The Association of Residential Managing Agents) is also a leading, recognized body in regulating the property management profession.
Service fee housing
Both RICS and ARMA support the standards of the RICS Service Charge Residential Management Code, which sets out the guidelines that the profession should follow.
A key difference between the two regulators mentioned is that RICS actively enforces its strict standards by visiting its members’ offices and reviewing their files to ensure compliance.
Ownership or lease agreements
Some of the areas that the real estate or lease management agent should consider are discussed below.
Hiring and management of real estate personnel. These may be staff employed for property security and maintenance, construction and renovation personnel, direct employees and subcontractors or employees of the individual tenant.
Health & Safety
Health and safety is a key element in managing any development. This includes ensuring that the dwelling or development conforms to all applicable building codes, as well as all aspects of fire safety, risk assessment and evacuation regulations and procedures. It should also include regular testing of these procedures and regular testing of all fire safety equipment such as alarms, emergency lighting and fire extinguishers.
Conduct an asbestos survey
Another key consideration is the need to conduct an asbestos survey and have a formal strategy for dealing with asbestos in any property. Whenever work is required on the building, the asbestos report and information must be made available to the suppliers or contractors so that specific safety precautions can be taken.
Security – This includes both personnel and infrastructure security measures. Door phone maintenance , electronic gates, parking lots, porter and building access controls are all necessary elements of any security strategy for owned or leased properties.
building repairs and maintenance
This includes things like cleaning contracts, gardening, window cleaning , lighting and outdoor facilities. Regular maintenance and servicing of elevators, boilers, fire protection equipment, fire escapes and safety devices is not only essential, but in many cases required by law to ensure the safe operation of the property in accordance with applicable government regulations .
Service Expense Management
This includes budgeting of projected expenses (both setting and agreeing limits and preparing annual budgets), all aspects of customer service and response, cash flow management, client reporting and accounts. Arrears collection is an important aspect where a robust system should be put in place to collect unpaid utilities owed by tenants.
Property Management
Lease management and compliance must be the responsibility of the property management company. Issues of nuisance, noise, neighborhood disputes and other tenancy violations must be dealt with decisively and courteously by the professional caretaker. It should not be left to local residents to sort this out themselves. Members of resident property management companies should be reminded that they are still tenants and remain bound by their duties under the terms and covenants of the property lease.
Block real estate management company
A competent property manager or Block Management London company should compare their standards of service to those set by the Royal Institution of Chartered Surveyors (RICS) as described above. Adhering to the strict standards set by RICS means your lease management company goes beyond the basic legal requirements. It should also do whatever it takes to ensure the safe and efficient operation of your property, including the apartment buildings or blocks of flats.
Ultimate peace of mind guarantee
RICS compliance is the ultimate guarantee of peace of mind, giving you peace of mind that the risk of potential property issues arising and developing into problems is minimized as much as possible. This gives peace of mind and a kind of safety net to tenants, landowners and landlords who benefit from the protection it provides.
Hiring specialist consultants who are bound by this code of conduct. Is worth considering and could prove to be a worthwhile investment considering the value of the real estate assets.
