If you are a leaseholder of a flat, it is your own interest to understand who manages the building you live in, how they manage it and the legal arrangements of the ownership.
Living in a property that is being managed poorly can negatively affect the overall enjoyment of living in your home as well as adversely impact its future value.
Usually, it is the responsibility of the landlord to take on the role of managing a building. However, it could also be a leaseholder’s responsibility as part of a RMC (residents’ management company). Although there are landlords who prefer to manage their buildings themselves, it is becoming increasingly popular for them to employ a professional management agency that acts on their behalf to deal with the maintenance of the property.
Why Do Landlords Use Block Management Services?
To manage a building of flats not only requires a professional manner, it also requires time in order to do it successfully. A block management service agency, such as http://www.completepropertygroup.co.uk/property-block-and-estate-management/, needs to have sound knowledge of current landlord and tenant legislation, construction, regulations relating to health and safety, accounts, as well as a variety of other skills. They should also be able to help you remain informed of your obligations and your rights.
Although managing agents are instructed by the landlord (instead of the leaseholder), they should take into consideration the needs and wants of flat owners. Agents play a vital role in the seamless running of the building in which you live, whether it’s maintaining the gardens or painting communal hallways. Since it is the leaseholder who pays for the managing agent, through their service charge, it is in their interest that the agent provides a high-quality service that is efficient and professional. For more information on service charges, click here.
So what should you expect from the management service?
In short, a professional service should:
• Provide excellent customer service, including the provision and access to budgeting, end-of-year accounting and service charges. They should also support leaseholders by safeguarding how service charge money is spent.
• Abide by the necessary codes of practice and regulations.
• Offer a complaints procedure that is unbiased and independent.
• Be transparent in all its dealings, including any connections they forge with other services providers and their commissions.
• Receive external scrutiny.