UK inflation is now at painfully high levels and interest rates are on the rise. While it can be tempting to cut corners in these leaner times, effective block management is now more important than ever. As purse strings tighten and wages fail to catch up, more people will fall behind on their bills. Unfortunately, service charges can often be given a lower priority when it comes to repayments. But, by using Blocks Online, property managers can ensure their blocks remain compliant and financially on top all from one remote access login.
While we have already experienced a challenging few pandemic years, the coming year in block management is likely to see further demands placed on management teams. Thanks to more economic challenges, plus there is every chance of budgets tightening and leaseholder complaints rising as a result. So the last thing that your management team needs is clunky software and accidentally incurred costs or fines. Good credit control software will see your team through with ease and reduce the risk of unnecessary oversights.
Blocks Online offer an easy access credit control database that is secure and straightforward. Rather than inputting data into multiple applications over extended periods, admin teams can reconcile and access all of their data from a singular point. Once your data is successfully transferred, you can then issue standardised and compliant financial documents to leaseholders via a handy leaseholder portal. You can then instantly identify non-payers, track your communication history and record payment plan agreements. This can save your property managers time, stress and money.
There’s no need to send repeat demands or spend time explaining bills on the phone. Leaseholder communications can be easily tracked, so both sides know exactly where they stand with a readily available electronic document history. Overdue service charge demand letters can be issued to an entire block at once, with a clear record of dates and chases. So if a payment is overdue for a substantial period, admin teams can act accordingly knowing that they are fully compliant. This lowers the time burden of chasing payment and ensures that the block finances are consistently managed in an optimal way.
With an easily understood financial statement for each block, contractor repair and maintenance work also becomes much simpler. Budgets for required work can be allocated with ease and statements processed instantly for review. An automatic reminder can be set when a fire risk assessment, insurance renewal, or gas safety check becomes due. Management teams and contractors will find the entire process less stressful and more straightforward. But most importantly, this will free them up to get on with other more important things and this is what will ultimately improve your bottom line.
Transferring from your current software to Blocks Online is easy. There is no software to install and payment is monthly and standard pricing has no minimum term. We work currently with some of the best names in block management and have received rave reviews. Contact us for your free demonstration or to discuss your needs in more detail today.