A solid, legally-binding lease is essential, but a good building management company is the key to making sure the obligations in the lease are kept.
Who arranges repairs and maintenance for the building? Who sorts out the insurance? Who makes sure the bills are paid on time and in full? A landlord can’t do it all, and that’s where the services of an excellent block management company come in handy.
From converted houses to purpose-built blocks, buildings need to be managed effectively.
Here’s how it’s done;
Where buildings and blocks of flats are involved, careful and forward planning is crucial. These buildings sometimes need repairs, which can be costly and may need to be done at short notice, especially if the repair is affecting the living circumstances of the tenants. The building needs to be assessed ahead of time to anticipate these kinds of things – ideally over a year in advance.
There are many obligations set out in a lease and it’s important that these are clearly understood by whoever is managing the building so that necessary services can be carried out in the best way possible for the residents.
Leases can be very complex documents and the terms need to be fully studied so that the way the building is managed does not contradict any promises made in the lease.
To really make sure this is possible, it’s important to have an experienced, reputable and knowledgeable block management service to avoid problems later on down the line. The service must always consider the terms of the lease when it comes to their dealings and especially when managing things like:
In addition to this, the company will also need to be fully aware of the requirements of the Landlord and Tenant Act 1985.
With managing buildings comes many financial obligations and the block management company you choose needs to be effective in dealing with this. The landlord or building management company is obligated to inform tenants of extra charges – for example – when works need to be carried out that will cost the tenant more than £250 in service charges – and this must be done as a formal consultation where clear reasoning for the work is provided to the tenant. If this is not done, the landlord may have to pay out of their own pocket as the tenant will no longer be obligated to.
It’s also up to the landlord and building management service to ensure that service charges are always reasonable and fair.
The list of duties for a landlord is long. Among them is the requirement to make sure their residents are safe in their properties. This includes arranging regular inspections of electrical equipment and other machinery in the building. This is another very important task that can be passed on to a building management company.
Horizon Management is your best bet. Experienced, knowledgeable and reliable, we’re happy to answer any questions you may have. If you’d like to know more about how we can help you effectively manage your properties, don’t hesitate to reach out hello@horizonmanagement.co.uk
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