You might have been wondering if you really need a block management company to handle your residential block property. In this article, we outline 5 key benefits of using a residential block management company.
What is Block Management?
Block management is a service run by block management companies in residential property blocks that handles the running, maintenance, repairs, legal, and accounting duties on behalf of property owners.
Block property management companies look after the communal areas of property blocks, such as gardening, cleaning, maintenance, repairs and, in some cases, concierge services, but can also offer services to landlords, where they will also manage individual properties.
5 Reasons Why a Residential Block Management Company Will Benefit Your Property
Legal assistance & financial assistance
A residential block management company can assist you with financial and legal matters. This may include budget reviews, insurance, tenancy agreements, lease enforcement, legislation advice, and arrears management.
It can be difficult to know what your legal and financial rights and obligations as a landlord are. Block property management companies can alleviate the stress and complexities of these matters, leaving you to get on with other things.
Tenant sourcing & communications
It can be difficult to know if a potential tenant is going to be a good tenant, but block management companies can assist with tried and tested methods that weed out the good from the bad.
We’ll also handle tenant communications, maintenance requests, any disputes, and requests for inspection, as well as the legal matters surrounding lease agreements, and the move-out process.
Quick repairs from approved contractors
One of the key benefits of using a block management company is quick, quality repairs from reliable, approved contractors. This means that your tenants aren’t left waiting too long for important repairs, and you can rest assured that the contractors in your property know what they’re doing.
Unfortunately, sometimes disputes arise between tenants in a residential block property, be it noise complaints, damage, smells, or general disruption. It can be difficult for landlords to handle this with other property owners, however when a block property management company is involved, such disputes can be resolved quickly and efficiently as they will usually manage multiple, if not all, properties in the block.
We can also act as a neutral party between landlords and tenants, should anything go wrong. We understand both landlord and tenant rights, as per tenancy agreements and the law, and can help to resolve any issues.
Health and safety compliance
Health and safety compliance for landlords can be a minefield. It can be difficult to know what is the responsibility of the landlord, and what is the responsibility of the tenant.
Block management companies can help to ensure that everything in your property is safe and above board.
Block Property Management in Leeds
Valor Properties offers a block property management service in Leeds and West Yorkshire. We have a wealth of experience in property management, leasehold accounting, and health and safety compliance.
Regardless of size, all our managed developments receive a service second to none. If your current development is in need of a new block management company, we will ensure a swift transition with minimal input from the freeholder.
Get in touch with us today to learn more about block management in Leeds.