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As leasehold reform transforms the residential market throughout England, it is increasingly important for leaseholders, property owners and Residents Management Companies to remain compliant, reasonable and keep properties in good condition. The selection of a suitable property management company is not something that can be taken for granted. For quite a few homeowners, it’s an actual requirement.
The wider Kent property market has seen a steady demand for professional and estate management services over the years, and Canterbury is no exception. Many homeowners, whether they own a flat in an old-fashioned Victorian terrace or reside in a new apartment, simply don’t have the time or skillset to manage shared budgets, contractors, compliance and other aspects of communal living.
What is the Role of a Property Management Company?
It’s a reasonable question and, quite honestly, most don’t know exactly how much is involved until they have found themselves at the center of a dispute over service charges or a maintenance problem. A reputable property management firm is responsible for so much more than just ridding you of the service charges and making that odd repair.
The work is split between service charge budgeting and accounting, building repairs, planned preventative maintenance and Health and Safety compliance, at a suitable management level. The final one has been heightened since the Building Safety Act 2022 was brought in, which has placed new requirements on fire doors and building safety issues for residential buildings. All management companies now operating in Canterbury should be totally aware of these requirements and be proactively supporting their clients to meet them.
Compliance is not the only aspect of the day-to-day work as it ranges from gardening and ground maintenance to lift servicing. It also includes guidance on Rentcharges, snagging for new developments and leaseholders’ ‘sometimes baffling’ service charge budgets.
Understanding the Leasehold System
The leasehold system in England is a very complicated system indeed. Every year the majority of leaseholders are sent a service charge of demand, which supplies little or no details of where the charge is actually going. This can result in frustration, conflict, and even a lack of trust between the residents and their management company.
Interesting to note: education is a big part of this. A top-notch property management team doesn’t simply receive payments and call contractors. It clearly communicates the nature of the process, the cost and its justification, and the nature of what residents can expect.
Government level leasehold and freehold reform talks are continuing to bring fresh challenges for Directors of Residents Management Companies and Right To Manage companies. The need to stay one step ahead of the game means a management company that is committed to ongoing education and training as opposed to resting on what it knows.
Impact of the Building Safety Act 2022
As a comparison, the Building Safety Act 2022 has significantly altered the duties with regard to fire safety in residential buildings. Owners of flats in Canterbury will now have to make sure they have a very different kind of management agent who knows about and will be proactive in solving these obligations, rather than one that fills out boxes at the end of the month.
How to Choose the Right Property Management Company
Not every property management company in Canterbury will provide the same level of service and the distinction between a good agent and a bad one can only be seen when things go wrong.
Look for clear communication. The best agents leverage online portals and ensure that clients are well informed and not pursued. Second, see if the team conducts regular CPD activities. There’s a lot of property management law and regulation that’s moving at a good pace and your agent should be moving along, too.
Third, think about the contractor network. A management company that has a proven and reliable network of local tradespeople can provide a quicker response and is likely to be able to secure better rates than a management company that relies on tradespeople brought in on a one-off basis.
Lastly, look to see if the company belongs to an established ombudsman scheme. Leaseholders and freeholders should have a route to escalation if they have a genuine complaint about the management company that hasn’t been resolved by the company, for example by registering with The Property Ombudsman who are registered with firms operating in the Canterbury area.
What is the Impact of a Truly Client-Focused Management Agent?
The impact of a management company that responds to your requests and a management company that actually fights for your building (and its residents) is real! The best agents know that balancing the needs of the individual leaseholder, the Residents Management Company directors, and the building community is crucial.
This is the philosophy on which property management companies in Canterbury, such as Love Property Management have been established. They are based in Clover House in the John Wilson Business Park in Whitstable and provide services throughout the Canterbury area, and other areas of Kent such as Faversham, Sittingbourne, Maidstone, Ashford, Ramsgate, Folkestone and Deal.
They have the right mix of knowledge to serve 18th century buildings, or brand new developments, and are therefore truly versatile in a market that demands it.
They are not only administrators, they have a focus on education as well. They can help leaseholders, freeholders, and Directors learn about leasehold, which can minimize confusion, disputes, and foster more sustainable relationships with leaseholders.
Conclusion
The property market in Canterbury is becoming increasingly complex and the leaseholders and freeholders in it need management companies that are dedicated to fulfilling their duties. The Building Safety Act 2022 and the accurate breakdown of service charges, as well as the availability of a reliable contractor network, are just a few benefits that can make a tangible impact on the quality of life in any residential development, with the right management company.
FAQ
What services do property management companies in Canterbury provide?
They typically handle all elements of day to day management; estate management, service charge collection and accounting, building maintenance, Health and Safety compliance, contractor management, and advice on leasehold and freehold matters.
What is the Building Safety Act 2022 and why does it matter for Canterbury property owners?
The Building Safety Act 2022 introduced new responsibilities around fire safety, including fire doors, for residential buildings. Property management companies operating in Canterbury must ensure the buildings they manage comply with these updated requirements.
How do I know if a Canterbury property management company is reputable?
Look for membership with a recognised scheme such as The Property Ombudsman, transparency in communication and service charge reporting, a proven local contractor network, and a team that undertakes regular continuing professional development.
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