Understanding Real Estate Property Management

Real estate property management is the maintenance, oversight, operation and control of properties. This is a demanding service-based industry that has many facets to it with the potential for good returns, but also many inherent risks. For property owners, management is an area where onboarding an experienced team with the right tools and knowledge at their disposal can pay dividends quickly.

The primary role of property management services is to oversee the daily tasks of maintaining a portfolio of properties. This could be a big block of flats or a string of freehold houses. An experienced property manager will have a list of helpful contractor contacts and an indexical knowledge of legal requirements for their clients, whatever the task at hand. For some property managers, their role can also extend to negotiating, helping retain the value of those properties and optimising income streams over time.

But, with rising interest rates and inflation, UK property managers are now not only dealing with ageing buildings but also with leaseholders who are on a tightened budget. The range of tasks is vast and can involve everything from collecting ground rents, overseeing service charge estimates, and setting up final annual budgets. So, when it comes to high value residential property management, every day will present its own unique challenges.

With rising materials and labour costs in 2022, delivering the required work in a cost-effective but compliant manner can be a real challenge. So, the important but seemingly minor details are all too easily missed in the commotion. With so much at stake, management teams need a strong support system that extends to practical contractor ticketing solutions.

Blocks Online’s remote access real estate property management software uses a customer-based approach that is combined with in-depth industry knowledge spanning decades. “While the software is pretty intuitive and easy to use there is an excellent support team who are knowledgeable about block management and are responsive and always willing to provide assistance when required,” said Lornham London.

Our current clients range from managing agents to private landlords and residential management companies. Whether it is everyday management, dealing with property financials or contractor ticketing, our software is here to help your team to act quickly and decisively. In the fast-moving property world, we can provide your management team with expertly designed software that is developed purely with their needs in mind.

We have organised our software around your management team’s business needs. We can help you to stay up to date with the latest legislative requirements, provide real-time financial information and generate pre-formatted leaseholder receipts all via a single login. Better still, transferring from your current provider to Blocks Online is easy.

There is nothing to install, we can assist with your data transfer and payment is monthly and standard pricing has no minimum term. We work currently with some of the best names in block management and you can check out our reviews here. Contact us for your free demonstration or to discuss your needs in more detail today.

 

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