Residential Property Block Management
The freehold management and administration of purpose built blocks of flats, converted houses and privately run residential estates is a quite unique form of property management requiring specialised skills and an in-depth knowledge of legislation.
The typical UK Residential Lease defines the management responsibilities of the Landlord or Freeholder which will usually cover all aspects of maintenance, repairs, insurance, ground rent and the collection of ground rent and service charges. Many Freeholders appoint property management agents or residential block management professionals to carry out these landlord duties.
Freehold property management companies are increasingly looking for professional help to deal with the burden of more onerous procedures and liabilities. The need to comply with new, and seemingly ever changing, legislation and regulations is making the appointment of such a residential block management specialist a preferable option. Choosing a property managing agent can be a difficult task, particularly for those less experienced in residential freehold matters. Historically, the residential property block management sector has been subject to constantly evolving Government legislation and with the introduction of the Commonhold and Leasehold Reform Act 2002, and the more recent changes to Health and Safety Legislation requiring risk assessments, it is clear that this trend is set to continue.
In addition, there are various Codes of Practice by professional bodies such as The Royal Institution of Chartered Surveyors and Association of Residential Managing Agents setting out guidelines and procedure for the residential block management sector.
It is perhaps not surprising that the combined effect of this can often cause confusion requiring careful consideration in the management of freehold property.
VFM Property Management Profile
VFM Property Management is a division of the development consultancy, VFM Procurement Limited. At VFM, we offer a dynamic approach to management of the property asset and understand that property owners want to protect their investments both now and in the future.
We take a proactive interest in the properties we manage, with the view that the value should not only be maintained but enhanced wherever possible. One of the key features of our services involves implementing a carefully planned maintenance programme and smoothly facilitating any emergency works that may arise.
To achieve this, we work closely with leaseholders, freeholders, landlords, property management companies and representatives of RTM and resident management associations to prepare professional programmes of planned service charge expenditure. Whether you are a freehold or leasehold client, you are eligible to take full advantage of our assured quality services. In addition, significant financial benefits can be realized through our value focused, cost effective approach to block management.
We aim to maximise the capital value of our clients’ land and buildings invested in our freehold portfolio while continuing to maintain the annual service charge at a sustainable, economic level.
Our property block management services are benchmarked to the quality standards set out by The Royal Institution of Chartered Surveyors under the RICS Service Charge Residential Management Code.
VFM has been established since 1993 and is experienced in all aspects of residential property block management, surveying, project management and cost control including maintenance, repairs and general development advice. Since its inception VFM has grown steadily securing new clients and repeat business on a wide range of projects and commissions including many residential developments, refurbishments and alterations works contracts.
Our Residential Block Management Property Services
Our core professional capabilities in the property block management London field extend beyond the typical duties and include surveying and project management of major works. Supplemented by flexible and broad ranging property and facilities management services we also offer specialist client representative and advisory solutions tailored to meet individual needs.
Experience has shown that working closely with all participants is the most effective way of achieving results and ensuring that property is maintained to the quality standards agreed. There are many facets to achieving this goal including:
- Property maintenance - planned maintenance, access to competent independent contractors at competitive rates.
- Building repairs - identify defects, arrange for remedial works at a reasonable cost and in good time
- Statutory requirements - implement suitable health and safety arrangements including testing installations and risk assessments
- Expenditure - setting and agreeing limits and controlling costs.
- Budgeting - realistic annual service charge budgets, tailored to the needs of the estate and the wishes of the residents.
- Customer service and response - professional, efficient, diplomatic, sensitive and succinct.
- Cash flow - securing service charge and ground rent payments.
- Client reporting and accounts - issued by Chartered accountants and presented in clear easy to read format.
- Lease compliance - regularly inform leaseholders and residents of their obligations taking effective action on non-compliance.
We will place the necessary people, implement procedures and procure contracts to facilitate our management function. We will regularly review to ensure that our clients are benefiting from the highest quality service.
Please click here to visit our Residential Property Block Management Website
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