When you see a block of flats or even lived in one it’s unlikely that you’ve given it much thought about how it is run. What you are actually looking at is a business and each one of those flats represents an income. It’s not an easy task to manage a block of flats and a Property Management Cheltenham company like https://www.completepropertygroup.co.uk/property-block-and-estate-management/ can provide you with an invaluable service to make sure those flats are performing to their full potential. It’s quite a specialist job but if you are a leaseholder it’s something that you should pay very close attention to. Read on to find out why.
It’s pretty fair to say that if you are a leaseholder the performance of the building providing rent to you and its general management plus upkeep is probably paramount to your own income and the protection of your own home. If the property is not manged well then it puts at risk so many factors including the continued use of the building and the value that it holds for you. The registered Landlord usually takes the full responsibility for the buildings management and this Landlord is a catch all title that could relate to any individual or to a local authority. It may be the leaseholders themselves who have formed a residents association and management company. Whilst it’s not inconceivable for the landlord to take personal responsibility it’s a lot more likely that they will choose to employ a management company to look after the properties maintenance and management. There are a number of reasons why.
The use of a management company brings in many skills that you may not have or have access to. Firstly they will be well versed in the art of tenant and landlord law, the construction cats relating to building, the all-important health and safety regulation knowledge plus ensuring that the basic accounts for the building are up to date. They will take orders only form the Landlord but the first thing they will tell you is to listen to the concerns and requests from tenants. Here is where the Management Company earns its pay as they will keep the lifts running and the communal areas, including gardens if there is one clean mow and weed. It means that the landlord has complete peace of mind that everything is taken care of they can just focus on the rents coming in and who they are personally allocated.
The residents will make a contribution so the cost to the landlords can be slightly offset and the skill of the management company is how they also maintain that relationship. They are a vital component to the Landlord and tenants alike.