What Is Block Management?
Most of the people live in cities, which are concrete jungles, filled with built-in blocks called flats. Managing these flats built on top of offices or shops or individually is a difficult task and also to manage the dealings between the landlords and the leaseholders.
Service and charges of block management
In the UK cities, landlords own flats and lease it to leaseholders for a period of up to 21 years. It is the executives of the block management company to make sure that both enter into a proper agreement of all terms including the service charges for maintaining the flats. The leaseholder pays to the landlord these charges as mentioned in the agreement. And in turn, the landlord pays the company service charges by quarterly, half-yearly, or annually services. It includes ensuring contracts, cleaning the commonplace, taking care of the building insurance, conducting all repairs of the flat and common area, and others that give value for the service charge money.
Features of the best block Management Company
Since block management is only gaining importance in the last few decades, at present it is not governed by any UK authorities. But there are self-regulatory bodies that these companies become members like the Property Ombudsman or the Information Commissioner’s Office for data protection. Finding the right company among many now is a difficult task for the landlord as it involves the dealing of the leaseholders and the low maintenance. There are many features of the best block management company for establishing their credibility and include
· A diverse range of knowledge in flat maintenance and other related information
· An excellent understanding of the local legislation and leasing legal information
· Ability to prepare budgets, annual accounts, insurance details, property tax payments, and others
· Should conduct a routine check on the flats and conduct any repair including plumbing, electrical, mason and other work to keep the flat in proper order
· Maintaining the flats in hygienic and secure conditions for ensuring the safety of the leaseholders
· Ability to provide customised services as per the need of the flat’s conditions and its landlord
· We should have an online portal with updated information on accounting, flat conditions, and insurance details. online payment of service charges among others
Contact the site of an excellent block management company to know more details for having their holistic services at affordable costs.