When it comes to managing blocks of flats, residents’ property management companies can be vulnerable and need specialist, tailored advice from professional block managing agents.
If you are a volunteer director acting for your property’s residents’ leasehold or freehold property management company you will be all too aware of the myriad of red tape, health and safety requirements and leasehold legislation constantly threatening with liabilities from all directions.
Many property management companies which are responsible for the maintenance and safe running of their blocks of flats are run and managed by volunteer directors and leaseholders. Often these volunteers have never received formal training and may not have any particular expertise in the complex world of property. For this reason the professional advice we offer to your property management company as management agents requires to be clearly explained taking account of the expertise of the directors and leaseholders concerned.
Whether your property management company owns the freehold of your block of flats or apartments or is a leasehold management company, the same principals apply. Many leasehold management companies include residents’ management associations and ever increasingly the new breed of RTM company. Alternatively the management company may have been given its standing by virtue of being a party named in the property lease with duties and responsibilities described therein. Whatever the nature of your requirements, property management services provided to your company need to take account of your specific needs including those of your leaseholders and residents.
This requires a flexible approach recognising the background of the individuals involved
in the management structure of your organisation and the leaseholders concerned. There will undoubtedly be strengths and weaknesses relating to the expertise and experience available and it is therefore our responsibility to understand and pro-actively ensure that
you receive the management input you require. The board of directors of your property management company can then proceed safely in the knowledge that you are receiving the correct professional advice from an established managing agent, Regulated by RICS, corporate member of ARMA and The Property Ombudsman.
Code of practice : RICS Service Charge Residential Management Code
In addition, there are various Codes of Practice by professional bodies such as The Royal Institution of Chartered Surveyors (RICS) and Association of Residential Managing Agents (ARMA) setting out guidelines and procedure for the residential leasehold sector.
Your managing agent can clarify your requirements
It is perhaps not surprising that the combined effect of this can often cause confusion requiring careful consideration in the management of property.
VFM property managing agents are chartered surveyors and have the necessary skills and expertise to lead freeholders, developers, property management companies and landlords through the management process.
Clearly identify your responsibilities under the property lease
Responsibilities under the property lease will be identified in the early stages and plans drawn up to implement suitable professional services and maintenance arrangements to comply.
Financial arrangements and leaseholders’ service charges/ money
Financial arrangements will be carefully set up and calculated ensuring that funding of property expenditure is covered by planning and forecasting future commitments.
Accounting for leaseholder service charge client monies
Accounting for service charge expenditure, compliance with client money regulations and transparent reporting procedures are also important factors in our comprehensive property management service.
How to maintain your property in good condition and repair
Insurance, repairs and maintenance will be arranged ensuring that the property is kept in good condition at all times.
Health and safety duties and obligations made easy
And of course suitable health and safety arrangements will be implemented to ensure the safety of residents, their visitors and all others who may enter the building.
Find out what notices you require to issue
VFM also has the necessary expertise to advise on and issue notices which may be required under statutory legislation and other regulatory requirements keeping freeholders properly informed of their statutory duties.
Project management of major works is easy without the need for other consultants
Other professional services are available to assist with the project management of major works programmes as and when required.
Property letting services are also provided at a discount
Lettings management services are available to all of our leaseholders and freeholders, As a result of our ongoing block management services special discount is available for lettings managed by VFM on blocks of flats where we are currently employed as your block managing agent.
Why not benefit from our no risk, comprehensive property management services
By employing experienced, qualified staff, we provide a friendly, expert service covering all aspects of the property management process. VFM is well equipped to provide any client with everything necessary to manage its properties and estates.