This is why so many experienced property investors agree that working with a good management company is the only way to ensure that landlords have peace of mind.
Here at Lint Estate Management, we are sharing our top 5 benefits why landlords choose a block management service:
1 Get Paid on Time:
Complete management of the collection of rent and ensuring late fees are avoided. This is extremely important for consistent and reliable cash flow; therefore, rent must be collected on time every month, and it’s important that tenants understand that. The property manager is the liaison between the landlord and the tenant when collecting the rent and handles any evictions if needed.
The eviction process is another important area that a property manager will handle. There are strict laws that regulate this process, and doing it the wrong way can be a big mistake. The estate management company will be experienced with any legalities, and processes are managed when they arise.
2. Getting the right tenants
Tenant screening can be a time–consuming process, and if you don’t have the experience in the estate management industry, you might end up choosing a bad tenant. This can be detrimental if policies and procedures are not followed correctly, which can cause problems if eviction becomes an option. Selecting the right tenant involves a reliable and verified screening process.
3. Management of On-site Staff/Concierge:
Completely managing on-site staff impacts in the success of services offered to the landlord and the satisfaction of the residents. Typically, an estate management company will have extensive experience managing teams of staff for developments including porters, concierges, building managers, estate managers and on-site cleaning teams. To ensure the satisfaction is maintained, they continuously monitor staff performance, providing a high-quality service.
4. Lower Repair and Maintenance costs
Blocks need consistent maintenance around the clock. When hiring the right estate management company, you can ensure happy tenants, not to mention that by doing that you also preserve the value of your assets. The service includes 24-hour emergency access to professional maintenance as well as licensed and insured contractors. Maintenance of all areas of shared space, whether it‘s fixing broken lifts or maintaining garden areas, is an example of services included by an experienced agency. Regular maintenance checks and inspections, a written maintenance schedule, and detailed documentation is crucial for any estate, whether it's residential or commercial. A reputable agency may also offer you valuable feedback and suggestions on health and safety guidance on your block.
5. Complete In-House Service
An estate/block management company is part of your team. In the long run, it is cost-effective to hire an agency rather than setting up your own department. Some of the key service‘s provided by a fully managed agency includes:
- Insurance and Claims
- Site Visits
- Health and Safety compliance
- Accounts and support services
- Point of contact for tenants
- Complete site management
Self-management may seem attractive when reducing the leaseholder’s costs. However, with it comes significant legal and regularity responsibilities for those taking on this role.
Lint Estate Management provides a complete property management service for both residential, commercial and mixed-use blocks, including anything from converted townhouses to large industrial estates.
Tailoring a property management solution to your needs, Lint Estate Management takes a personalised approach to residential property management, delivering high-quality customer service and professional practice. Each property is allocated a dedicated Property Manager who will ensure that issues are dealt with before they develop. They will also attend client and resident meetings and inspect the property regularly.
For further information, please get in touch with our Estate and Block Management team by calling 020 8554 9999.