Residential block management includes the process of maintaining the communal shared areas of several residential properties. This is also commonly referred to as property management, estate management and block management. A property manager will most commonly be appointed when a significant number of properties require attention.
But, this can be a challenging position. Residential block managers must report to the freeholders, leaseholders or tenants, and contractors and follow relevant legislation. Residential blocks also have significant legal and financial requirements placed upon them that need to be expertly managed in order to limit any potential liability. So, the scope and demands of the role are vast.
Residential Property Finance Management
Financial records and accounts are a key area of property management services, as this is how funds are monitored for essential maintenance and upkeep. This can include serious matters such as safety checks like fire risk assessments and asbestos reports for residential managing agents. These must be conducted in a regular and timely fashion to limit any potential health hazards and associated liability.
But in apartment blocks, this also extends to simple actions such as minor repairs, rubbish removal from communal areas, gardening and window cleaning. These can be conducted by onsite staff, or by appointed contractors. Residents who fail to pay their associated service charges in a timely fashion may need to be pursued in a compliant fashion to ensure that payment is made.
Expert Advice On Developments
In the UK, freeholders may also wish to explore the possibility of skyline developments, which require extensive documentation and research. Adding further buildings with communal areas to obtain further revenue from acquisition and undertaking major works may be a further consideration. These must be actioned in line with appropriate legal documentation while serving the appropriate notice within the correct timeframe.
A managing agent alongside chartered surveyors and relevant legal counsel will typically be responsible for advising developers and ensuring that best practice is upheld on these matters. While there may be great profit potential, there are also many potential legal pitfalls, as this area of the law is closely regulated. A property management company will often act as a go-between to ensure that this is undertaken to the highest standards.
Why Block Management Software Is Key
Getting lost in the latest regulatory requirements is all too easily done. Therefore, a management company will benefit greatly from simplifying the process through the latest residential block management software. At Blocks Online, this is exactly why we provide our block management customers with a straightforward and comprehensive remote access user interface.
With so much going on in the world of property services, having a reliable and efficient workflow system is undoubtedly key to delivering an excellent service level. Our system simplifies all of these processes for you without the need for the software and you being physically present at the office. Leaseholder documents, ticketing and credit control are presented consistently in line with current legislative requirements with automated backups for added security. So, you can get on with the important stuff.
