This is our Guide to Residential Block Management
Residential block management refers to the service of managing residential blocks of flats or apartments on behalf of Residents, Leaseholders or landlords. Services are provided by the residential management company or freeholder in line with the lease in exchange for service charges due from the leaseholders. RMCs will usually appoint a professional managing agent to act on their behalf to provide the services and collect the service charges. Block management is referred to by other names such as leasehold management, estate management as well as remote property services in other cases. The managing company is usually tasked with carrying out management duties that will ensure that all communal areas are kept in good order. This includes things like garden areas and concierge, as well as ensuring repairs and maintenance of gates, lifts and communal lighting. Block Management is also managing the communication between freeholders and contractors, to ensure maintenance is at the highest standards. A managing agent is tasked with ensuring that not only do the contractors work effectively but that they are value for money.
So when someone purchases a flat or apartment that is part of a building or development, they are likely to be entering into a leasehold agreement. A leasehold gives the purchaser the right to occupy the property for the period specified in the lease agreement. The freeholder owns the structure itself and common parts of the building and the land it stands on, sometimes also referred to as the landlord. A lease is a contract that sets out the rights and duties of both parties. The freeholder is responsible for maintaining and repairing the building structure and communal areas and insuring the property itself. The leaseholder will agree to keep the property in good order, pay the service charge and ground rent, and abide by the lease restrictions. Some developments are sold as a share, Which means that the purchaser owns their leasehold plus a share in the property’s freehold. Generally, this done by creating a company that owns the freehold and each of the leaseholders owns shares in this company. Residential buildings take a lot of managing, It’s not just the building and finances but countless laws must also be complied with. Because of this, landlords or freehold companies usually appoint an agent to manage their block.
So to sum up contact us to get the ball rolling on your residential block of flats.
What is Block management
A block management company is responsible for maintaining all areas of shared space, including the building itself and any garden areas as we mentioned above. property management companies have contracts with a wide range of repair and maintenance professionals so they can deal with emergencies quickly and efficiently. They can also plan and implement longer term maintenance and repair services to ensure a streamlined approach to maintaining your block. Block management business’s will also manage maintenance contracts with third-party providers. This is just another point in this guide to residential block management. Managing a residential building is time consuming and requires professional skills. The building manager needs to understand landlord and tenant law, health and safety regulations, building maintenance, accounting and much more. Both landlords and leaseholders have an interest in the building being well managed as a poorly managed property will impact the buildings value and the tenants will cost likely look for alternative accommodation.
