Within a residential block, individual units will likely have different lease terms to which owners need to stay on top of. In this article, we’ll outline how a residential block management company like Valor Properties can help enforce tenant leases, and ensure compliance on both sides of the contract.
What is Residential Block Management?
A residential block management company is responsible for the maintenance and management of residential shared spaces such as apartment blocks. Block management involves a variety of services from repairs and maintenance, to accounting, facilities management, and secretarial services. Learn more about what is included in block property management in our recent blog.
What Does Lease Enforcement Involve?
A residential block management company must first ensure that they know what each unit owner is legally allowed to do, as outlined in individual leases, and what compliance services they, as lease enforces, are permitted to do on the owner’s behalf.
What Are Lease Compliance Services?
Once the residential block property management company is fully aware of the legal requirements of their lease enforcement responsibilities, they must ensure that both the tenant and the owner of the property comply with the terms and conditions set out in the lease or contract.
This means ensuring that any payments are made on time, that the property is kept to an agreed standard (which may mean property inspections), and that any disputes are handled appropriately. The block management agent may also be responsible for handling repairs and maintenance within the property (as laid out in the contract), and will be charged with handling any disputes regarding damage to the property when a tenant moves out.
Lease Enforcement Services with Valor Properties
Valor Properties’ residential block management service includes lease enforcement and lease compliance services for freehold and leasehold properties. Get in touch with us today to learn more about our block management service in Leeds and West Yorkshire, and to see how we can benefit your residential block.