Managing blocks comes with its particular challenges. There may be several different leaseholders and a management company or resident management company. Every company usually has a distinct way of running things. There are service charge accounts, which need to be justified. There’s also a legal framework — Section 20 consultations, reserve funds, and insurance obligations — which doesn’t allow for shortcuts.
We look after blocks on behalf of freeholders, RMC’s, and management companies. If they’ve hired us, it’s because they want it done properly, to a high standard, and not to a low standard and sufficient. Some of the things we do to make it done properly are: ensuring service accounts reconcile, and most works are done at the right time in the process, rather than after the fact when most decisions have been made, and ensuring the reserve fund is right.
Most leaseholders think managing blocks is managing their relationships with leaseholders. Most complaints are not really complaints. They are usually complaints about not knowing things and poor communication. Poor communication usually leads to more complaints. We make all of our communication and most of our paperwork available to all of the leaseholders, which usually eliminates most complaints.
What this covers:
- Accounts and budgeting for service charge
- Section 20 consultations for major works
- Building insurance and claims management
- Coordination of repairs and maintenance
- Planning for reserve funds
- Liaising with leaseholders and managing AGM and committee
Getting these things right can be time-consuming. A major works consultation has a statutory time period and cannot be shortened. However, we can ensure that this is done right the first time and reduces the risk of future disputes.
If you are the freeholder, RMC director, or the managing agent, and would like to give this to someone who will actually do the work and keep on top of it, get in contact.