This guide is for you if you’re seeking information on how to manage a residential property block. Everything will be covered, including how to choose the best professional managing agents for small blocks of flats — and what they actually do.

In a recent report, 18% of landlords opted for an agent for management services of multiple residential properties.

Residential property management doesn’t have to be a difficult and time-consuming procedure.

You may reduce the burden associated with managing your property by partnering with a reliable, knowledgeable, and skilled property management company. So let’s look at the question, do flats have to have a management company?

Managing agents for flats and block management: what are the options?

You can run a residential complex in a few different ways. You have the option of carrying it out yourself or having a management agent act in your place.

You can either hire a flat management company or form a residents management company (RMC) to take care of the property yourself.

If you choose to manage the property yourself, you’ll need to make sure that you are organised and have the time necessary as well as registering with Companies House.

Additionally, you will need to be knowledgeable about the pertinent laws and stay on top of maintenance and repairs.

If you lack the time or knowledge to manage the property yourself, hiring a managing agent or property manager is a viable choice.

The managing agents are in charge of all facets of block management, and they typically charge a monthly service fee.

What is block management for a small block of flats?

Block management is exactly what it sounds like: managing apartment buildings where each individual property is owned by a different leaseholder (or share of the freehold), while another person or business controls every property in that building. 

Managers have a number of significant legal obligations, including scheduling maintenance, collecting service fees, and maintaining common spaces.

A block management agency will be able to relieve you of a lot of the burden of managing your property. They may make sure everything runs well by taking care of any repairs, maintaining common areas, collecting rent from tenants, and making sure your property complies with all applicable laws.

Block management is a business, and you need a skilled individual to bring everything together if you want your business to be successful. By relieving you of the chore of managing your current properties or worrying about neglecting legal requirements.

Why use a block management company or managing agent?

Convenience

Block management businesses can handle all the routine duties involved in managing apartment buildings, including site visits and resolving maintenance issues.

By doing this, you can have more time to dedicate to other tasks.

Save money

You can reduce your property expenditures by working with a block management business. Contracts with suppliers can be negotiated, and they can obtain discounts for large orders.

They can also give you advice on ways to save energy that could lower your bill and prevent future service charges.

Peace of mind

You may feel more at ease if you know that your property is secure.

Employing a block management business gives you the peace of mind that your property is well-cared for.

What do block managing agents do? 6 services provided 

Service and Maintenance

Your residential building’s property management is handled by a block management firm. This includes overseeing and maintaining any shared amenities, such as parking lots or gyms, as well as the common areas.

Additionally, the block management will be in charge of overseeing any necessary repairs or maintenance as well as health and safety compliance.

Claims and Insurance

The block management business will also be in charge of handling any potential insurance claims if your building has tenants.

This includes handling any damage produced by the occupants as well as any potential legal disputes.

Financial

The accounting and financial administration of your apartment complex will also fall within the purview of the block management firm.

This includes overseeing any necessary repairs or maintenance as well as collecting service charges from tenants.

The purpose of the block management business is to ensure that all contractors are paid and that money is received. They can also provide administrative support, enabling direct contact amongst property managers.

Health and Safety Compliance

Additionally, the block management will be in charge of making sure that your building complies with all safety and health laws.

This includes taking care of any problems with fire safety or security as well as taking care of any asbestos that might be present in the structure.

Site Visits

Site visits play a significant role in the service that block management firms offer.

They can check on the building’s condition and ensure that repairs and maintenance are being carried out correctly thanks to these routine inspections, which will keep your property safe from any potential threats that can occur if adequate attention isn’t given to them in a timely manner.

Building surveying

The secret to effective property management is understanding when a building surveyor is necessary and working closely with them to realise the overall objectives of the property interest.

Understanding the complete process in which a building surveyor can be involved will be crucial for a landlord or property manager.

It might only be a standalone report or condition assessment on a single issue, or it might be a whole project management of a sizable renovation.

Only the first stage is typically taken into consideration, even if they have the skills to oversee actual contractor activities under rigorous guidelines from local planning bodies, predetermined expenditures, and health and safety issues like CDM.

What distinguishes block management from residential managing agents?

Property managers are in charge of running a single tenancy’s daily operations, whereas block managers look after the common areas, shared utilities and building maintenance in a block with several properties. 

Because some of their responsibilities—like basic maintenance—overlap, property managers will spend a lot of time talking with block managers to resolve issues on behalf of their clients.

Should I set up a residential management company?

A resident management company is thought to be in charge of managing about 50% of residential leasehold properties in the UK (RMC).

If the leaseholders jointly own the freehold, they are free to form a Residents’ Management Company (RMC) to handle the above responsibilities, but they are not required to.

It’s important to understand the duties that management personnel will have once resident management companies are established, such as completing a company tax return adhering to the present property law within the local authority.

Need expert help with managing your property?

With more than 25 years of experience, Scanlans Property Management is one of the top managing agents in the UK.

You may rest assured that the management of your block is in capable hands because we have assisted leaseholders and tenants with their block management procedure for a number of years and we are subject to ARMA regulation.

Because all of the elements of our services are included, you can unwind while we take care of the block’s needs.

Contact Scanlans right away to learn how we can help you with the creation process and continuing management of your residential block if you’re interested in exercising your Right To Manage.

Do flats have to have a management company FAQs

What is a flat management company?

Any firm established under the Companies Act that operates for the benefit of residents (or tenants) as opposed to operating as a for-profit enterprise is referred to as a flat management company, sometimes known as a property management company.

What is right to manage flats?

Some leasehold property owners are permitted to assume building management under the Right to Manage (RTM) even without the landlord’s consent. If your building’s leaseholders intend to do this, they must notify you as the building’s landlord in writing. If they are successful, they will administer the building even though you will still own it.

Who can manage a block of flats?

You can run a residential building in a few different ways. You have the option of carrying it out yourself or having a management agent act in your place. You can either hire a block management business or form a company to take care of the property.