When is it time to say “Enough is enough” with your property management company?
All too often, people stay in a situation for way too long. Even when this situation no longer serves our best interests it can be tempting to hold on anyway and avoid change we might deem too complicated or too much effort. We’ve been amazed time and time again at how long landlords and property owners have been unhappy with the management of their building blocks when they eventually decide to come to us for help straightening the management of their building out.
We have heard countless stories from building owners who have told us their property management company has been at a very poor standard for a long time and has been causing them headache and undue stress. It could be from a repair perspective, and they have contracted in sub-standard workers who have delivered unacceptable repairs. We have also heard that some Property Management companies have not dealt adequately with service charge costs and the management of the spending of these service fees in line with contractual obligations.
Ultimately, a Property Management company can be the difference between a profitable, efficiently run building that is easy for you as a Landlord or, when poorly done, it can mean developing a bad reputation, constant complaints from unhappy tenants and poor cost-effectiveness. When blocks are poorly managed, living conditions can become unsuitable quickly, tenants become restless and unhappy, and the value of your building and individual flats can plummet.
So, when is it time to say “Enough is enough?”
If you are a Landlord or property owner and have been finding you are dealing with complaints of your building not being maintained properly, or if you have concerns about the transparency, honesty or communication from your current provider it is time to find a Block Management service you can rely on.
Changing your management company does not come without work, but it is worth it, in the end, to be with a company who has the best interests of your building and you as the client at the centre of the work carried out.
Do any of the below apply to your block building?
- Residents Associations. These associations can make crucial decisions; however, if they only meet once per month, it can take a long time for arrangements to be agreed on.
- Limited company (with non-executive directors) who represent the leaseholders within your building. This can be positive but can turn into a protracted process as all directors must be in agreement.
- Hostile freeholders. This may be someone who is taking the service charges from individual tenants and paying themselves significant sums of money in management fees without putting money back into essential repairs.
Some of these complexities can make change slightly more difficult, but by no means impossible. For example, in the last scenario, you can begin a ‘(RTM) Right To Manage’ process whereby if you have more than 50% of leaseholders who will agree that they want new management you can take back control of management.
There are many other possible complexities with ownership and responsibility of a block building, but when you have a stable, professional Block Management Company on your side, these issues will be dealt with promptly, expertly and efficiently.
If you are tired of dealing with poor service from your Property Management Company, then it’s time to say ‘Enough is Enough’ and move to a service you can rely on. Get in touch with Westcolt surveyors today and let us help you make the switch to a more comfortable, more profitable future for your property.