A property management London company is able to take the weight off the shoulders of any leaseholder or freeholder property owners who acquire their services, as they deal with the maintenance, managing the accounts and finances of the property and pretty much all other aspects of property management that such individuals would find quite stressful to handle. There are many London management companies with particular expertise in block management. They often specialize in dealing with leaseholder owned management companies in and around London and the South East.
The advantages of a leaseholder drive company are that they will give leaseholders good value for money from their service charge. A property management company always acts in the best interests of their client and this means helping leaseholders in any possible when dealing with block management. Good ones want their clients to have the lowest service charge possible without compromising on a first-class service in block management. As highlighted on many advisory websites, they will deal with the everyday tasks such as estimating the annual service charge cost, invoicing that cost to the lessees in accordance with the terms of the lease, maintaining client bank account (funds held in trust), negotiation of cleaning/gardening contracts, payment of all invoices incurred, ensuring accounts are prepared and submitted to companies house, ensuring the property is correctly fire risk assessed, managing major works and section 20 consultations, arranging and purchasing insurance for the building and grounds, 24 hr contact for emergencies and full access to an online portal for lessees.”
This is part and parcel of what a property management London company needs to deal with in managing blocks, ensuring these tasks are carried out to the best of their company’s ability, and conveying the importance of giving leaseholders what they asked for.
Many companies also help with the scheme of right to manage, which gives leaseholders the power to take over their block without the permission of existing agents. They will help with the process from start to finish, including securing the support of at least half of leaseholders if not yet achieved. Right-to-manage has legal procedures which must be followed rigorously, including checking eligibility of the premises, registration of the RTM company at companies house, service of notices on all leaseholders, service of claim notice on freeholder (and others if required), and correspondence with the freeholder to prove validity of the claim.
This is an overview of property management services and what companies offer as a block management company.