Block management offers a way of keeping any building you own maintained in a fashion that will help you to avoid long-term problems and in a way that will keep residents happy. Not only that, but the right maintenance will also ensure that your residential property is as appealing to new tenants as possible.
But how should it all work? Should residential property management companies be simply reactive, or should they be proactive, and how much of what gets done is really down to the owner of a property?
Ultimately, the best property management companies will take all the hassle of managing a property out of your hands. They perform regular inspections and ensure that all common areas are maintained to a high standard without the need for constant supervision from the owner. They will often oversee major work too, taking charge of every step from booking relevant external companies to managing the completion of the job.
It is not just maintenance either. The best block management companies will also either assist with or prepare for you a huge range of different types of documentation at all different stages of property ownership. Furthermore, the best will offer service charge management facilities, making a whole range of relevant payments for you and preparing financial reports that are easy to understand so you can see exactly where your money is going.
Not all block management companies will be the same, and it will be important to find out what a certain company will be doing for you, as well as how reputable they happen to be, before you sign on that dotted line.