Published: Saturday, 16 December 2017 21:08
When managing residential properties you often think of two scenarios. Firstly, where a single house is let out, often on a short-term AST agreement by maybe the property owner landlord direct.
The second is a larger blocks of flats with multiple dwellings which then involve various communal areas like a staircase or external garden, over-and-beyond the issues directly relating to each tenant. Typically these are ‘sold off’ on long leasehold interests, although you can have just multiple shorter-term residents paying a rent and which has developed into a new PRS (Private Rented Sector) market.
It’s this second scenario where property management skills are truly needed, not only to wade through all the obligations and legalities...
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Category: Non-Rent Monies
Published: Wednesday, 13 December 2017 21:18
When you’re progressing an important property deal, whether a sale of a flat or a letting of commercial property, all can be ticking along nicely until the world of service charges are discovered.
This is usually through solicitors as they weed through legal information on the property, but it could be another party like a managing agent or even an on-the-ball purchaser or tenant.
They’re the sort of charges that appear straightforward at face value. So much is paid every year towards communal running costs, maybe a shared entrance way in a block of flats or a rear yard at a parade of retail shops.
However, problems can appear when you talk about actual hard-fast accounts in detail. Suddenly these can be lagging, which means that...
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Published: Saturday, 09 December 2017 21:17
Signage can be an important part of a property, after all you may have the best-condition property in town, but if no one knows how to find it then it’s meaningless.
Whether it’s an owner advertising space to sell or let, or an occupier keen to have business advertising – it can place the property right on the map.
This actually encompasses a huge range of different types of signage, from small and straight-forward, to larger-than-life permanent fixtures. Likewise there can be a wide range of issues to be aware, both property-specific but also more marketing pointers to make the most of things.
Here are a few angles to consider in whatever situation you’re in. Not exhaustive, but certainly covering most of the basics to begin making the...
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Here are various blog resources related to the rent that is paid at properties, whether you're a landlord receiving, tenant paying, or middle-man managing. Right through from how to correctly charge and collect to how it needs to change over time, this is often the most important factor to managing let properties, and includes simular variations such as licence fees.
Here are various blog resources related to non-rent monies and payments, for example service charges, fees, and other costs and charges. These can be directly charged or hidden away, and are important to know what you may have to pay or might be able to charge another property interest for.
Here are various blog resources related to the insurance of properties, ranging from the main building cover to ancillary ones like contents. Whether it's the premium to pay or the policy to correctly arrange, these help explain what's needed from the perspective of different property interests.
Here are various blog resources related to all the different property interests, from landlords & tenants, to investors & occupiers, to all other third-party interests. These cover general factors to consider for a particular interest, to more detailed issues to resolve for a particular course of action.
Sales & Lettings
Here are various blog resources related to the sales & lettings of a property, and all related transactions. Whether you're involved in these directly yourself, or you're working with other sales/letting agents and interests, these help highlight important property managemnet factors to consider.
Leases & Titles
Here are various blog resources related to all forms of leases, titles, and legal documentation involved with property interests. Whether a straight forward lease agreement or complicated legal documentation, here is help to understand what you're trying to achieve and then practically how to easily do this.
Here are various blog resources related to all the taxes involved with property interests, from VAT and SDLT, to income and capital gains, to rates and council tax. These will help you work alongside other accounting and tax advisors to make sure you cover all bases to reduce your overall tax liabilities.
Services & Compliance
Here are various blog resources related to the services and compliance at a property. These range from say your fire and health and safety compliance, through to services like cleaning and utilitities. These resources help provide an overview of each area without getting too technical, so you can plan it all in at the right time and best cost.
Here are various blog resources related to any other general subjects involved with properties and their interests. So whether it's the basics of property management, or more specific property issues and queries that don't naturally fall in the other categories, you'll find them all here.
Condition & Repairs
Here are various blog resources related to the condition of a property and any repairs and alterations required. Whether it's a reactive roof repair, pro-active maintenance plan, or carefully-chosen contractor - these help explain how to effectively keep properties in the right condition.