Property management is big business, with lots of landlords and freeholders needing the services of a property management agent to ensure their buildings are looked after. Property management and block management mean that a property will be kept in good working order by the management company, and the freeholders will pay a certain amount of money to the management company to pay for these services. Freeholders wanting property management Leicester will have the choice of different management companies in the area, or those further afield. If you can, it is always useful to choose a management company close by, so you know they can carry out inspections and send round local contractors to carry out work on your property.
What does a property management company do?
Property management companies are usually set up to serve freeholders within communal blocks. They might also serve freeholders of houses, who buy to let, though this may be carried out by a letting agent as opposed to a property management company. Property managers will usually take care of a whole building, which might also be known as block management. They make sure that everything is in good working order, and they carry out any repairs and maintenance that are needed, using the money that comes from freeholders’ and leaseholders’ service charges. These are often paid directly to a management company, and are used in the day to day managing of the building. Usually, these charges will cover the costs of everything, though people who own flats in the building may occasionally be required to pay more money for major works, such as a new roof or new windows in communal areas.
Why is it beneficial to appoint a property management agency in Leicester?
Some properties are now moving away from having a freeholder who owns the building and land. Instead, the leaseholders are coming together to from residents’ management companies and they take control of the building themselves. However, it is still often beneficial for these residents’ management companies to appoint a management company on their behalf. If nothing else, all those residents are often not going to agree! It is also important that you look after your building to the best of your abilities, and what better way to do that than by appointing an experienced property manager who knows exactly how to look after your building. They will be able to carry out regular checks, and take care of any maintenance work, without you having to do anything, and they will act in the best interests of your building.
What can property management companies do?
Property management companies look after the day to day running of a building. If a management company in Leicester has various properties around the local area, they may carry out inspections to make sure everything looks ok, as well as looking after day to day maintenance activities like lawn mowing and window cleaning. They will also use local contractors who they know well to carry out any maintenance work, so you know this is being taken care of by professionals.