A Guide to Block Management4109616
Sadly, 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 more and more of us are turning to block management companies in order to much more effectively handle our blocks - but what exactly is "block management?"
Fairly clearly a block management company will help residents to manage the completely of their block. Numerous residents, understandably, might discover the concept of handing over the manage of their block to a property business a little difficult to swallow however there are plenty of reasons why a block management business could truly save you time, difficulty and perhaps even a little cash.
It's worth considering the variety of activities that go into the effective management of a block of flats:
Rent and service charge must be collected: it can be difficult collecting the ground rent and the correct quantity of service charge in a block of flats. Let's face it, no-1 wants to be the one to be the 1 who takes money out of their neighbour's pockets.
Maintaining a single property can be difficult, even for the keenest DIY enthusiast. So imagine the difficulty involved in taking care of maintenance for a whole block of flats, managing internal and external repairs, hiring contractors etc price effectively 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 issues, whether they be emotional, financial, to do with the situation of yourblock. For instance, perhaps 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.
Nonetheless really feel like managing your block? Well luckily a block management business can deal with all these activities and more, no longer do residents have to go via a laborious decision procedure as to how much the service charge ought to be, or which contractors to employ, block management companies can assist 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 make sure that you choose the right management company for block, look for guarantees such as "less expensive than managing agents or your cash back.
