How Does Property Management Work?
If you are a leaseholder or part of a residents’ association or neighbourhood, you have probably heard about property management, but what is it? If you own or manage an estate or block, a property management company can take a lot off your plate.
A property management company acts as the middleman between leaseholders, freeholders, and residents, handling the daily running of a property. Services typically include:
- Coordinating contractors and fixing issues.
- Ensuring funds are in place for costs and future work.
- Meeting health, safety, and legal requirements.
- Addressing concerns and collecting payments.
- Handling urgent repairs and unexpected situations.
And the list goes on. A property management company makes your problems go away.
Why Hire a Property Management Company?
Managing an estate or block comes with many responsibilities. A property management company takes on these tasks so you don’t have to worry and can focus on other things.
- No more dealing with maintenance issues or chasing service charge payments.
- No more worrying about if everything is up to standard and compliant.
- Budgeting and service charge management help prevent unexpected costs.
- A well-managed property benefits everyone, and keeps everyone happy.
How Much Does Property Management Cost?
Costs are depend on the level of service or size of property(s). Most companies hide this behind a ‘Get a quote’. Modbury Estates are transparent about pricing and services offered. Our Estate Management services are £50 – £120 per unit, and our Block Management services are £170 – £320 per unit, (with a minimum fee of £1,440 per annum).
Choosing the Right Property Management Company
Not all property management companies are the same. Here is what to question yourself:
- Do they have a strong track record?
- Are charges clear and fair?
- Do they keep leaseholders and residents informed?
- Do they handle issues before they escalate?
It’s important for a property management company to cover these points, and more. You should make sure that your chosen property management company has the desired accreditations to prove that they are eligible.
Modbury Estates are qualified and are regulated by RICS, which means Modbury Estates‘ reach RICS eligibility criteria for regulation, the people who manage the company (Samuel Milne) are considered suitable to provide their services.
Modbury Estates is a local company, based in South West England, with offices across Plymouth, Exeter, Bristol and Taunton. We are able to provide eligible property management services across the South West and are expanding further every day.
Ready to Make Property Management Effortless?
Let Modbury Estates handle the hard work while you enjoy peace of mind. Get in touch today to discuss how we can support your estate or block. Call us, email us, or follow us on social media to learn more.