When you let a property there are a whole host of things you need to take into account, such as how you will attract tenants, how you’ll gather rent and how the building will be managed. With apartment blocks or residential estates these concerns become even more challenging because there are more properties and public spaces to worry about, so the scale of the job is much higher. The best solution is to hire a block management specialist to handle everything for you.
Block management is the collective term used when you have a company manage more than one property in the same building or location. The service will usually include collection of rent and other fees, conducting inspections and organising maintenance. Some companies will have their own tradesmen to carry out the work where others have working relationships with local practitioners. The responsibility for seeing work completed is on the manager’s shoulders. You can save a great deal of effort and reduce the risk of problems by hiring a specialist.
As well as being more convenient, choosing a company that offers block management can also help you save on fees. By having one provider handle everything, you should see lower administration expenses to start with. On top of that there should be savings in terms of management and upkeep costs. Working with a single company makes it easier to plan a budget because there will only be one bill to worry about. It also helps to improve transparency; with only one set of charges it is easier to keep track of the various expenses and make sure you don’t overpay.
Some property specialists will offer block management alongside their other services so you can find a comprehensive service to cover every aspect of managing your properties. This is by far the easiest solution for landlords and offers the best returns for the least amount of effort. With one provider you can keep closer control over standards and make sure every part of the property is looked after, from the gardens and hallways to individual apartments.