The major metropolitans in the world have been experiencing a mushroom growth in the number of vertically-developed high-rise buildings to cater to the housing of burgeoning population. A number of residential blocks have been cropping up in cities. Flats within these residential blocks are being rented out and in some cases leased to the people. The management of the communal areas of these housing blocks is what block management is all about. Since it is a task that requires expertise in residential management and a lot of dedicated time and effort, the property owner, landlord or leaseholder usually tasks block management to a company.
Block management is also known as property management, estate management or leasehold management. So if you come across any of these names, you will know that in case you want to have your property managed by a company by paying a service charge, you can get in touch with them.
Let’s take a look at how block management serves the purpose and why the services of block management companies like Canonbury Management are in demand.
When it comes to a structure like a residential block, regular maintenance is essential. The scale of maintenance of a building such as a residential block is difficult to manage and that’s where a management company can easily solve the problem. A lone individual or 3-4 people cannot deal effectively with multiple problems that may arise at the same time. Emergency maintenance or regular, a block management company is well-equipped to deal with both.
2. Budget management
Budget allocation for all the regular tasks in the management of a residential block is usually fixed. It can be hard to operate within that budget if all the things are not being managed systematically. That is where a block management company facilitates the process. Every task is assigned a budget and it is performed in accordance with that. The only hitch can be a natural disaster such as an earthquake or a typhoon but the repairs can be taken care of from the emergency budget.
3. Building Insurance
Insurance conditions must be strictly met and followed. It is imperative that the block is covered by insurance. The block management companies are well able to deal with insurance related matters and make sure that there is no hitch in the whole process. If and when the insurance has to be claimed, the block management company ensures that the block owner/s do not have to experience long delays. Moreover, they also have teams that are well-versed in all the legal matters that may arise.
It is the duty of the block management companies to take care of the cleaning of the common areas of the building. They usually hire contractors for that purpose. It includes cleaning of the communal areas, garbage disposal etc. Everything must operate smoothly and optimally in a residential block and cleaning is a matter that is no less important in the upkeep of such a place.
5. Dealing with Contractors
The provision of all the commodities in a residential block is handed over to the contractors who deal in the respective services. The block management companies hire these contractors; these companies manage any legal issue or overall dealing with contractors. All of that is included in the service charge that is due to the block management companies.
6. Rent collection
In a lot of cases, the block management company also provides the service of rent collection from the tenants or block residents. Rent collection can be a tedious and tiresome process, which is streamlined by these companies for the facilitation of the owner and the tenants both.
7. Health and Safety Management
Safety of any building is a serious matter and a residential block is no different. The safety protocols are outlined and enforced in the building by the block management company. In case of any disaster such as a fire, it is the responsibility of the company to ensure the safety of occupants and the building. Some companies also cover the provision of health services. It may include, but is not limited to the transportation of an individual to hospital on emergency basis.
With the rise in residential blocks throughout the big cities of the world, there is a great competition between the block management companies. It is usually word of mouth that provides credence to the services of a company; therefore, honesty in deliverance of their services is the top agenda of these companies. Technology has further facilitated block management, as the tech experts ensure availability of software for this purpose alone.