Choosing the best block management company for you: A piece of cake

Whether you’re a landlord, tenant or future homeowner in the making, there’s plenty to consider and keep on top of when it comes to property. From repairs to rent payments, to optimum oven temperature. Using a block management company will really help you stay organised and keep those cakes in a row. But we won’t sugar coat it. For such a company to take the reins of something so important, you’re going to need to use your loaf and choose one you trust. Fortunately, our handy guide will help you sort the wheat from the chaff when choosing your organisation and give you more time to think about cake toppings. (Yes, we’re fully ensconced in Bake Off season). So let’s dig in!

They’re one smart cookie

You might be wondering exactly what a block management company does when it’s at home / your home. Think of them like a project manager. Or the Paul Hollywood to your bake off. With all their know how and experience, block management can help maximise your returns (and meringue peaks). By offering services such as service fees, scheduling repairs and taking over any or all administration duties – and that’s just for starters. It’s one large headache or five off your list, and gives you more headspace to focus on refining that custard mix.

Make sure they’re not half baked

Firstly, it’s worth checking to see if the company that takes your (fondant) fancy is independently licensed. You’ll find out whether they belong to any industry associations. Such as the Royal Institution of Chartered Surveyors (RICS) or The Property Ombudsman (TPO) through their website usually. Why is this so important? This is particularly helpful when it comes to the specialist legal requirements of property management which can get pretty complex. We’d recommend meeting with more than one company to begin with and get into the nitty gritty of what issues or major works need tackling before you sign on the dotted line. Make sure you’re all on the same page of the cookbook.

Get your slice of the pie

The most effective sort of block management company will maintain a flexible approach. Being comfortable with letting you take the lead with some areas. For example, if they’re the type to rigidly take over every aspect of administration or management, then the proverbial ‘too many cooks in the kitchen’ nightmare might play out. We all know what happens when Prue gets involved with the muffin mix and Noel Fielding distracts you from your piping. Don’t be shy to ask how much they charge as well. So you’re not met with any embarrassing costs later down the line.

Do they take the biscuit?

Whether their experience is in apartment blocks or rentals. It is integral that they have a wealth of experience with property management. Preferably for a number of years. Take Davies and Davies for example, and our thorough knowledge of real estate since 1927 – it’s in our DNA and a staple of our day like a Stroud Green bakery bagel. Be sure that they have a proven track record in the industry and have a well thumbed book of positive testimonials.

Don’t fall for a pie in the sky

While it’s tempting to plump for the tastiest looking cupcake in the window. Make sure you’ve waddled yourself into the bakery itself and asked the baker what dough they use first. In other words *dusts icing sugar from cheeks*, remember to get the important answers prior to making the big decision. Pertinent questions include asking: who will handle correspondence day to day, how often will you receive income and expenditure reports. Who will choose the contractors for repairs and refurb work and most importantly – who is in charge of coffee runs and donut buying?

Have your cake and eat it too

Once you’ve made the all important decision on who’s going to help your life run a lot more smoothly. It’s time to pop the kettle on and cut yourself a huge slice of Battenberg. Oh, and get some agreements drawn up. This is where the Royal Institution of Chartered Surveyors (RICS) or The Property Ombudsman (TPO) will come in handy. As they have rather convenient Policy and Procedures templates ready to steal and get implemented. Phew. Who’s for another slice?

Contact us:

alex@daviesdavies.co.uk – Lettings Director (contact for lettings and property management)

mark@daviesdavies.co.uk – Sales Director (contact for sales, new homes and chartered surveying)

Davies & Davies Estate Agents, 85 Stroud Green Road, London, N4 3EG

Article & images by Barefaced Studios

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