Category: People Interests
Published: Tuesday, 26 June 2018 20:45
You may well come across references to ‘management companies’ within property management, particularly with multi-use properties where this middle-entity can often crop up.
Now, one thing they are not is a ‘managing agent’, which can cause confusion. A managing agent is a separate agent that is simply instructed to carry out a service for a property interest, which might happen to be a management company (often abbreviated to a ‘man co’).
On the other hand, a management company has a legal interest in a property, maybe holding the freehold of the land or long leasehold interests.
An Example to Help Explain
So, imagine you have a block of six flats, or six office units if you’re dealing with commercial property. At this level...
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Category: People Interests
Published: Saturday, 16 June 2018 21:47
Having a ‘building guide’ for a property is worth its weight in gold as a form of go-to-guide for how a property is used.
You may hear of different names for these including residents’ guide, welcome pack, or property manual. They all have the same gist, to summarise all the nuts-and-bolts of using a property day-to-day.
And this is the secret, to make it as practical and usable as possible with little fuss. People don’t have the time to wade through separate instructions and documents, it’s handy to have in one easy-to-read place.
The Two Benefits
There’s a double-benefit to having one of these in place.
Firstly, it’s actually helpful for people, particularly occupiers who need to use the building day to day. It sounds simple, but it...
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Category: Condition & Repairs
Published: Wednesday, 13 June 2018 21:41
Flooding at a property is not only a nightmare in terms of what damage it causes, but in how quickly it suddenly appears.
One minute everything may be okay, and the next minute the phone goes or the door opens to find a whole lot of damage, particularly in lower ground and basement levels.
3 Steps to Quickly Know What to Do
Let’s cut to the chase, as you may be reading this with the dilemma at hand.
Here are 3 simple stages to go through from a property-management perspective, to get to the bottom of and begin resolving.
Whether you’re an interested owner, landlord, or tenant direct – or an external advisor like a managing agent – it’s all still applicable.
1. Agreeing the Repairs
It’s obvious of course, to stop the flooding and agree...
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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.