Kay & Co’s Asset Management team have years of experience in block management and last year we managed to deliver a reduction of 15% in fees to our leasees, illustrating that a first- class service can also be budget conscious.
If you think your block is being neglected, would like to revisit management fees, have had enough of self-management or would just like a refresher on why professional block management is essential, read on.
Here are our top six reasons why professional block management should be your first choice:
1. Block management is a business, so it should be undertaken professionally and impartially. It is essential to create a safe, legally-sound environment for freeholders, leaseholders and any tenants who may live in the block and this takes time and specialist knowledge. Professional management agents will be up-to-date with landlord and tenant law, building construction, health and safety regulations and compliance, amongst other things.
2. A professional block manager will help preserve the value of the building by keeping it in good condition, making it easier for you to rent or sell when the time comes. They will control service charge payments, ensuring there is enough money in the pot when work is due to be carried out and will source contractors and manage the work while it is taking place.
3. A professional block manager will be responsible for the condition of communal areas inside and out and will schedule maintenance work required for the structure and fabric of the building. Regular inspections will ensure standards are being met; small niggles resolved before they turn into major issues and value-for-money delivered.
4. A professional block manager will be the first port-of-call if there is an emergency relating to the building. They will already have the experience, the right contacts and the procedures in place to deal with the unforeseen.
5. Communication is crucial when it comes to block management, and professional block managers such as Kay & Co will ensure there is an open dialogue between leaseholders, the designated block manager and all related service suppliers/ contractors.
6. When you’re paying for a block management service, it’s good to know where your fees are going. There should be clear, transparent and accurate reporting back to leaseholders – with an emphasis on accountability.
Kay & Co does not charge management fees as a percentage of the service charge. Instead, it charges a fixed and fair fee per flat, which means there is no incentive to see service charges rise, unless there is a valid reason.
If you are considering changing your current block manager or wish to appoint a new one, contact Kay & Co today for further information. We already successfully manage multiple blocks for leaseholders in Bayswater, Hyde Park, Marylebone, Paddington, Regent’s Park, Mayfair, Knightsbridge, Westminster, Pimlico, South Kensington, Wandsworth and Fitzrovia and would be delighted to discuss your requirements.