If you’re a landlord or leaseholder, the time may come when you need to hire a property management company. And if you’re like most people, you’ll probably do some research before making your decision.
In this article, we’ll give you a number of reasons why you might hire a block property management service, alongside the many benefits that these services have to offer.
What is Block Management?
Block management is a professional management service offered by firms or individuals who specialise in the management of blocks of flats and apartments. There are many situations in which you may need a block manager, including:
- When you are part of the RMC of a block of flats or apartments and want to employ professional management of the property.
- When you own a block of flats or apartments and want to ensure that they are managed professionally and in the best interests of your tenants.
- When you are a tenant living in a block of flats or apartments and want to know that your landlord is managing the property effectively and in your best interests.
Related Reading: The Roles of Freeholders, RMCs and Managing Agents in Block Management
Why Use Block Property Management?
Legal & Financial Assistance
One of the key reasons to use a block property management service is that you can access legal and financial assistance when required. This can be invaluable when it comes to resolving disputes or dealing with difficult situations, saving you money and potential risks in the long run.
A block property manager will have extensive legal and financial knowledge and be able to provide you with the support you need when required.
Tenant Sourcing & Communications
Another key reason to use a block property manager is that they can help you to source and check new tenants as well as manage communications with them. This can be particularly beneficial if you are not able to dedicate the time needed to carry out these tasks yourself.
A block property manager will have extensive experience in sourcing quality tenants and will be able to manage all communications with them on your behalf. This will help to ensure that the process runs smoothly and that you are able to attract the best tenants possible.
Support With Inspections
One of the main reasons to hire a block manager can be to help you ensure that regular inspections are carried out. This helps to identify any potential problems early on and can prevent them from escalating, without it eating up your time.
A block property manager will be responsible for organising and carrying out regular inspections of your property. This will help to ensure that everything is running smoothly and that any potential problems are identified and dealt with quickly.
Dispute Resolution
If disputes do arise, it is important to have a process in place for dealing with them. A block property manager will be able to help you to resolve any disputes that may occur between tenants or between landlords and tenants.
They will have extensive experience in dispute resolution and will be able to help you to reach a resolution quickly and effectively. This can save you time and money in the long run.
Support With Repair Contractors
Another reason to employ a block manager is if you need support with managing repair contractors. A block property manager will have extensive experience in working with repair contractors and will be able to help you to get the best possible deals on repairs.
They will also be able to manage all communication with the contractors, ensuring that the repairs are carried out quickly and to a high standard.
Health & Safety Compliance
If you are concerned about the health and safety compliance of your block, it could be a good time to hire a block manager. They will be able to help you to ensure that all safety regulations are complied with and that your block is safe for tenants.
They will also be able to provide health and safety training for your staff and tenants, helping to ensure that everyone is aware of any risks or precautions that they need to take.
You Might Like: The Complete Spring Maintenance Guide For Block Property Managers
7 Benefits of Using Block Property Management Services
Better marketing strategy
One key benefit of using block management services is that they can help you refine your marketing strategy. They will understand key market data and information about tenant audiences, including what type of properties they are interested in and what rents they are willing to pay.
This information can be used to develop a targeted marketing strategy that will help you to attract the best possible tenants for your block.
More efficient rent collection
Hiring a block property manager boasts the benefit of refining your rent collection process. They will be able to help you by providing a well-developed system for rent collection that is tailored to your block.
This can help to ensure that rents are paid on time and that there are no disputes over payments. It also frees up your time so that you can focus on other important tasks without having to worry about rent not being paid.
Lower repair costs
Another benefit of using a block property manager is that they can help you to negotiate better deals with repair contractors.
As they have experience working with contractors, they should be able to get the best possible prices for repairs. They will also be responsible for organising and carrying out the repairs, ensuring that they are carried out quickly and to a high standard without disturbing you or the tenants too drastically.
Higher quality tenants
Great property management companies will have a verified and reliable screening process that helps them choose only the tenants who will:
- Pay their rent on time
- Rent long-term
- Cause few problems
- Minimise overall wear and tear of the block.
This can be a great relief as it means that you will not have to waste time dealing with difficult or problem tenants. In turn, this allows for a more peaceful and enjoyable living environment for all residents.
Fewer legal problems & risks
As mentioned, one of the main benefits of using a block management company is that they will take care of all the legalities and risks associated with owning and managing a block property. This includes tasks such as health and safety compliance, contract management, and rent collection.
This can help to reduce the number of legal problems and risks that you are exposed to, allowing you to rest assured that your block is in safe hands.
Better tenant retention
A good block management company will also be able to help you to retain your current tenants. They will have extensive experience in dealing with tenants and will be able to offer them a wide range of services, including access to health and safety training, repairs, and support with managing their leases.
This can help to keep your tenants happy and encourage them to stay in your block for a long period of time. This can be especially beneficial if you are looking to maximise your rental income.
Peace of mind
Finally, one of the biggest benefits of using a block management company is the peace of mind that it brings. By entrusting the management of your block to a professional company, you can be sure that everything is being taken care of efficiently and effectively. What more can a landlord want?
Looking For Expert Block Management Services?
At Scanlans Property Management, we specialise in residential block management services.
Our services are tailored to meet the specific needs of blocks of flats and we take pride in our reputation for providing a high-quality, reliable service.
We have a wealth of experience in dealing with all aspects of block property management, and we can ensure that your block is run smoothly and efficiently.
Call Our North West Team
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