How Can Block Management Maximise Your Investment Yield?
This is the age of outsourcing. For property owners, block management is key to getting the most out of their investment.
If there is one thing the last decade has taught us it is that our parents and grandparents were right – there is no better investment than bricks and mortar. Property has proved to be one of the safest and most resilient investment types, whether it is commercial or residential, and has largely withstood the economic challenges that the world has thrown at us since 2008.
However, this is no time for landlords and portfolio managers to be resting on their laurels. This year is going to throw up new challenges, particularly when the UK leaves the European Union. It is essential to identify ways to maximise the investment yield from your property, and our block management services in Essex and Suffolk are helping scores of property owners to do exactly that.
When purchasing a property for investment, it is all too easy to underestimate the burden of routine maintenance. It is no exaggeration to say there is always something that needs doing, and coordinating with cleaners, engineers, decorators, gardeners and so on can seem like an endless task.
A professional block management company has the know-how, contacts and processes to cut through the nonsense and ensure routine maintenance happens on time, every time. This serves to ensure the property remains in good condition, meaning your investment is protected and your tenants or leaseholders are living in a safe and enjoyable environment.
Admin and secretarial
The responsibilities attached to property ownership go beyond keeping the shared spaces clean and the grass cut, however. The administrative tasks can become overwhelming, but with block management, this is another weight that can be removed completely from the shoulders of landlords or directors.
Complete cradle to grave company secretarial services mean that your block management company acts as an agent and takes care of all leasehold, freehold and even debt recovery processes. It really is a “set it and forget it” process that allows you to get on with your day to day life, knowing any legal and administrative obstacles that appear will be dealt with quickly and professionally.
The UK is often cited as a global benchmark when it comes to health and safety. This is something we can all be justifiably proud of, but it is a record that comes on the back of hard work and commitment. Where leasehold properties are situated in communal facilities with shared space, there are various health and safety regulations that need to be met. These include rules relating to fire evacuation procedures, firefighting and suppression equipment, safety doors, asbestos regulations and numerous other considerations.
Ensuring compliance is not straightforward, but your block management company will always be on top of the latest regulations and will proactively ensure the property meets all applicable HSE requirements.
To find out more about how East Block Management can help you get the very best yield from your property, while minimising the time and energy you need to devote to it yourself, get in touch with us today.